Skylands Capital LLC Purchases 70,440 Shares of Molson Coors Beverage Company $TAP

Skylands Capital LLC raised its position in shares of Molson Coors Beverage Company (NYSE:TAP) by 63.9% in the third quarter, Holdings Channel reports. The fund owned 180,650 shares of the company’s stock after buying an additional 70,440 shares during the quarter. Molson Coors Beverage comprises approximately 1.1% of Skylands Capital LLC’s investment portfolio, making the stock its 26th biggest holding. Skylands Capital LLC’s holdings in Molson Coors Beverage were worth $8,174,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Root Financial Partners LLC acquired a new position in shares of Molson Coors Beverage during the 3rd quarter worth about $25,000. Clearstead Trust LLC grew its holdings in Molson Coors Beverage by 952.8% in the 2nd quarter. Clearstead Trust LLC now owns 558 shares of the company’s stock valued at $27,000 after buying an additional 505 shares during the last quarter. Smartleaf Asset Management LLC increased its position in Molson Coors Beverage by 64.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock worth $27,000 after buying an additional 221 shares during the period. Geneos Wealth Management Inc. lifted its holdings in shares of Molson Coors Beverage by 32.9% during the first quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock worth $49,000 after buying an additional 198 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of Molson Coors Beverage by 175.7% during the third quarter. Versant Capital Management Inc now owns 1,202 shares of the company’s stock worth $54,000 after buying an additional 766 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TAP. BNP Paribas Exane downgraded shares of Molson Coors Beverage from a “hold” rating to a “strong sell” rating and set a $40.00 price objective on the stock. in a research note on Friday, January 16th. Piper Sandler decreased their price target on shares of Molson Coors Beverage from $52.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, November 21st. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $50.00 price objective (down previously from $53.00) on shares of Molson Coors Beverage in a research report on Wednesday, November 19th. Barclays reiterated an “underweight” rating and issued a $49.00 target price on shares of Molson Coors Beverage in a research note on Friday, January 16th. Finally, Jefferies Financial Group decreased their target price on Molson Coors Beverage from $51.00 to $48.00 and set a “hold” rating on the stock in a research report on Tuesday, November 4th. Five analysts have rated the stock with a Buy rating, ten have issued a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $53.18.

Molson Coors Beverage Trading Up 2.2%

Shares of TAP stock opened at $52.00 on Wednesday. The stock has a market cap of $10.28 billion, a price-to-earnings ratio of -4.87 and a beta of 0.48. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.45 and a current ratio of 0.60. Molson Coors Beverage Company has a 52-week low of $42.94 and a 52-week high of $64.66. The firm has a fifty day moving average of $48.02 and a 200-day moving average of $47.72.

Molson Coors Beverage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were issued a dividend of $0.47 per share. The ex-dividend date was Friday, December 5th. This represents a $1.88 dividend on an annualized basis and a yield of 3.6%. Molson Coors Beverage’s payout ratio is currently -17.60%.

Molson Coors Beverage 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.