Intech Investment Management LLC Sells 112,032 Shares of Molson Coors Beverage (NYSE:TAP)

Intech Investment Management LLC decreased its stake in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 84.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,183 shares of the company's stock after selling 112,032 shares during the period. Intech Investment Management LLC's holdings in Molson Coors Beverage were worth $1,218,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of TAP. Family Firm Inc. bought a new stake in shares of Molson Coors Beverage during the 2nd quarter valued at about $26,000. Altshuler Shaham Ltd bought a new stake in Molson Coors Beverage during the second quarter worth about $27,000. GPS Wealth Strategies Group LLC boosted its stake in Molson Coors Beverage by 83.8% during the second quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company's stock worth $33,000 after acquiring an additional 294 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in Molson Coors Beverage during the third quarter worth about $35,000. Finally, Gladius Capital Management LP bought a new stake in Molson Coors Beverage during the third quarter worth about $42,000. Institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Stock Up 1.2 %

TAP opened at $61.41 on Wednesday. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46. The firm has a 50 day moving average price of $56.94 and a 200-day moving average price of $54.44. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The stock has a market capitalization of $12.65 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 2.34 and a beta of 0.82.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.13. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The firm had revenue of $3.04 billion during the quarter, compared to analysts' expectations of $3.13 billion. During the same period in the previous year, the company earned $1.92 earnings per share. The firm's quarterly revenue was down 7.8% on a year-over-year basis. Equities research analysts forecast that Molson Coors Beverage will post 5.78 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.76 annualized dividend and a yield of 2.87%. Molson Coors Beverage's dividend payout ratio (DPR) is 39.64%.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Hsbc Global Res lowered shares of Molson Coors Beverage from a "hold" rating to a "moderate sell" rating in a research note on Friday, November 8th. UBS Group boosted their price objective on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the stock a "hold" rating in a research note on Wednesday, August 7th. Wells Fargo & Company raised shares of Molson Coors Beverage from an "underweight" rating to an "overweight" rating and boosted their price objective for the stock from $52.00 to $74.00 in a research note on Friday, November 8th. Finally, Barclays boosted their price objective on shares of Molson Coors Beverage from $49.00 to $51.00 and gave the stock an "underweight" rating in a research note on Monday, November 11th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Molson Coors Beverage has an average rating of "Hold" and an average price target of $60.57.

Molson Coors Beverage 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.