Lecap Asset Management Ltd. Increases Holdings in Molson Coors Beverage Company $TAP

Lecap Asset Management Ltd. grew its position in shares of Molson Coors Beverage Company (NYSE:TAP) by 54.4% during the second quarter, according to its most recent filing with the SEC. The firm owned 9,656 shares of the company’s stock after acquiring an additional 3,403 shares during the period. Lecap Asset Management Ltd.’s holdings in Molson Coors Beverage were worth $464,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Twin Capital Management Inc. grew its holdings in shares of Molson Coors Beverage by 0.7% during the 1st quarter. Twin Capital Management Inc. now owns 24,791 shares of the company’s stock worth $1,509,000 after acquiring an additional 180 shares during the period. Geneos Wealth Management Inc. grew its holdings in shares of Molson Coors Beverage by 32.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock worth $49,000 after acquiring an additional 198 shares during the period. Signet Financial Management LLC grew its holdings in shares of Molson Coors Beverage by 3.7% during the 2nd quarter. Signet Financial Management LLC now owns 5,757 shares of the company’s stock worth $277,000 after acquiring an additional 208 shares during the period. Callan Family Office LLC grew its holdings in shares of Molson Coors Beverage by 5.0% during the 1st quarter. Callan Family Office LLC now owns 4,426 shares of the company’s stock worth $269,000 after acquiring an additional 209 shares during the period. Finally, Millstone Evans Group LLC grew its holdings in shares of Molson Coors Beverage by 151.8% during the 1st quarter. Millstone Evans Group LLC now owns 423 shares of the company’s stock worth $26,000 after acquiring an additional 255 shares during the period. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Barclays reiterated an “underweight” rating and set a $50.00 target price (up previously from $49.00) on shares of Molson Coors Beverage in a report on Friday, September 12th. Piper Sandler cut their price target on Molson Coors Beverage from $53.00 to $52.00 and set a “neutral” rating on the stock in a research note on Tuesday. Evercore ISI cut their price target on Molson Coors Beverage from $58.00 to $53.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 6th. Needham & Company LLC cut their price target on Molson Coors Beverage from $65.00 to $58.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Finally, The Goldman Sachs Group cut their price target on Molson Coors Beverage from $67.00 to $57.00 and set a “buy” rating on the stock in a research note on Thursday. Six investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $56.88.

Molson Coors Beverage Stock Performance

TAP stock opened at $46.40 on Friday. The stock has a market capitalization of $9.17 billion, a PE ratio of 9.15, a price-to-earnings-growth ratio of 1.68 and a beta of 0.63. Molson Coors Beverage Company has a 12-month low of $43.80 and a 12-month high of $64.66. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 0.46. The stock’s 50 day simple moving average is $48.98 and its 200 day simple moving average is $52.62.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Tuesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.22. The business had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.12 billion. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%.The firm’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period in the prior year, the firm posted $1.92 EPS. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. As a group, research analysts forecast that Molson Coors Beverage Company will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were given a $0.47 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.88 annualized dividend and a yield of 4.1%. Molson Coors Beverage’s dividend payout ratio is 37.08%.

Molson Coors Beverage Company Profile

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers flavored malt beverages including hard seltzers, craft, spirits and energy, and ready to drink beverages.