Clarkston Capital Partners LLC Sells 2,686,230 Shares of Molson Coors Beverage Company $TAP

Clarkston Capital Partners LLC reduced its stake in Molson Coors Beverage Company (NYSE:TAP) by 80.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 665,185 shares of the company’s stock after selling 2,686,230 shares during the period. Molson Coors Beverage accounts for 2.2% of Clarkston Capital Partners LLC’s portfolio, making the stock its 16th largest position. Clarkston Capital Partners LLC’s holdings in Molson Coors Beverage were worth $28,643,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Oak Thistle LLC acquired a new position in shares of Molson Coors Beverage in the fourth quarter worth $3,194,000. Delta Global Management LP acquired a new stake in Molson Coors Beverage during the fourth quarter valued at $2,360,000. Fairfax Financial Holdings Ltd. Can grew its stake in Molson Coors Beverage by 3.8% in the fourth quarter. Fairfax Financial Holdings Ltd. Can now owns 1,338,500 shares of the company’s stock valued at $62,495,000 after purchasing an additional 48,429 shares in the last quarter. Jefferies Financial Group Inc. increased its position in Molson Coors Beverage by 187.9% in the 4th quarter. Jefferies Financial Group Inc. now owns 43,318 shares of the company’s stock worth $2,022,000 after purchasing an additional 28,272 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of Molson Coors Beverage by 13,331.1% during the 4th quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 900,692 shares of the company’s stock worth $42,044,000 after purchasing an additional 893,986 shares in the last quarter. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

TAP has been the subject of several research reports. Barclays reduced their price target on Molson Coors Beverage from $43.00 to $41.00 and set an “underweight” rating for the company in a report on Friday, May 1st. Needham & Company LLC cut their price objective on shares of Molson Coors Beverage from $52.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, May 1st. UBS Group decreased their target price on shares of Molson Coors Beverage from $46.00 to $40.00 and set a “neutral” rating for the company in a research report on Thursday, July 16th. Deutsche Bank Aktiengesellschaft set a $41.00 price target on shares of Molson Coors Beverage in a research note on Wednesday. Finally, Sanford C. Bernstein cut their price target on shares of Molson Coors Beverage from $74.00 to $45.00 and set a “market perform” rating on the stock in a report on Tuesday, May 26th. Four research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $44.00.

Molson Coors Beverage Stock Down 2.4%

TAP opened at $40.06 on Friday. The firm has a market cap of $7.51 billion, a P/E ratio of -3.77 and a beta of 0.42. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.38 and a current ratio of 0.54. The business has a 50 day moving average price of $40.26 and a 200 day moving average price of $44.10. Molson Coors Beverage Company has a twelve month low of $38.04 and a twelve month high of $54.82.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Friday, May 1st. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.26. Molson Coors Beverage had a negative net margin of 16.14% and a positive return on equity of 9.79%. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same quarter last year, the firm posted $0.50 earnings per share. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. Research analysts forecast that Molson Coors Beverage Company will post 4.8 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, August 28th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, August 28th. This represents a $1.92 dividend on an annualized basis and a yield of 4.8%. Molson Coors Beverage’s payout ratio is currently -18.05%.

Insiders Place Their Bets

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,245 shares of the company’s stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $42.50, for a total transaction of $52,912.50. Following the completion of the sale, the director directly owned 9,871 shares in the company, valued at $419,517.50. This represents a 11.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.27% of the stock is currently owned by corporate insiders.

Molson Coors Beverage Company Profile

Molson Coors Beverage Company is a leading multinational brewing and beverage enterprise formed through the 2005 merger of Canada’s Molson and the United States’ Coors. The company develops, markets and distributes an array of alcoholic and non-alcoholic beverages, focusing primarily on beer and ready-to-drink products. Its portfolio spans flagship brands such as Coors Light, Molson Canadian and Miller Lite, alongside craft-style offerings like Blue Moon and global imports including Carling and Staropramen.

In addition to its core beer business, Molson Coors has expanded into adjacent categories to capture evolving consumer tastes.