Beer giant Molson Coors (NYSE:TAP) outpaced the market month as the stock gained 12% compared to a 2% increase in the S&P 500, according to S&P Global Market Intelligence. The boost wasn't enough to significantly closer the gap with the wider market, though, and Molson Coors shares are flat so far in 2019 compared to an 18% surge in the S&P 500.
September marked an important transition in leadership as CEO Mark Hunter stepped down and Gavin Hattersley took over at the struggling beer brewer. Hattersley is hoping to find ways to speed growth back up after several years of declining results as U.S. consumers shift away from brands like Miller and Coors and toward premium imported franchises such as Heineken and Corona. Molson Coors' latest move into alcohol-infused coffee shows how it is trying to advance into those higher-growth areas itself.
The consumer staples titan is set to report earnings results on Oct. 30, and investors will be closely following that announcement for signs of firming demand in the key U.S. market. That report will also be an opportunity for Hattersley to reveal any major strategic changes he has in mind that might help in his core priority of restoring shareholder value.