Molson Coors Beverage (NYSE:TAP) Shares Sold by GSA Capital Partners LLP

GSA Capital Partners LLP lessened its position in Molson Coors Beverage (NYSE:TAP - Free Report) by 34.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 22,672 shares of the company's stock after selling 11,654 shares during the quarter. GSA Capital Partners LLP's holdings in Molson Coors Beverage were worth $1,304,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Entropy Technologies LP purchased a new stake in Molson Coors Beverage in the third quarter worth about $1,885,000. Loudon Investment Management LLC purchased a new position in shares of Molson Coors Beverage during the 3rd quarter valued at $443,000. Venturi Wealth Management LLC lifted its stake in Molson Coors Beverage by 428.6% in the 3rd quarter. Venturi Wealth Management LLC now owns 2,733 shares of the company's stock worth $157,000 after purchasing an additional 2,216 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Molson Coors Beverage in the 3rd quarter worth about $35,000. Finally, Tompkins Financial Corp grew its holdings in Molson Coors Beverage by 33.3% during the 3rd quarter. Tompkins Financial Corp now owns 2,000 shares of the company's stock valued at $115,000 after purchasing an additional 500 shares during the last quarter. 78.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

TAP has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the company a "hold" rating in a research note on Wednesday, August 7th. Jefferies Financial Group decreased their target price on shares of Molson Coors Beverage from $61.00 to $57.00 and set a "hold" rating on the stock in a report on Thursday, July 18th. TD Cowen dropped their price objective on shares of Molson Coors Beverage from $58.00 to $56.00 and set a "hold" rating on the stock in a research report on Tuesday, October 8th. Wells Fargo & Company upgraded shares of Molson Coors Beverage from an "underweight" rating to an "overweight" rating and increased their price target for the company from $52.00 to $74.00 in a report on Friday, November 8th. Finally, Barclays raised their price target 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. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $60.31.

Molson Coors Beverage Stock Down 1.5 %

NYSE TAP traded down $0.95 during trading hours on Thursday, reaching $62.93. 666,200 shares of the company's stock traded hands, compared to its average volume of 1,913,011. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.74. The firm has a market cap of $13.04 billion, a PE ratio of 14.18, a PEG ratio of 2.41 and a beta of 0.82. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The firm has a 50-day simple moving average of $55.96 and a 200 day simple moving average of $54.31.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, topping analysts' consensus estimates of $1.67 by $0.13. The business had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The company's revenue was down 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.92 earnings per share. Sell-side analysts anticipate that Molson Coors Beverage will post 5.74 EPS for the current fiscal year.

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.