Quantbot Technologies LP Sells 132,803 Shares of Molson Coors Beverage (NYSE:TAP)

Quantbot Technologies LP cut its stake in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 92.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,970 shares of the company's stock after selling 132,803 shares during the period. Quantbot Technologies LP's holdings in Molson Coors Beverage were worth $631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of TAP. Family Firm Inc. purchased a new stake in Molson Coors Beverage in the 2nd quarter valued at about $26,000. Altshuler Shaham Ltd purchased a new stake in Molson Coors Beverage in the 2nd quarter valued at approximately $27,000. Ashton Thomas Securities LLC acquired a new position in shares of Molson Coors Beverage during the 3rd quarter valued at about $35,000. GPS Wealth Strategies Group LLC raised its position in Molson Coors Beverage by 83.8% in the second quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company's stock valued at $33,000 after purchasing an additional 294 shares during the period. Finally, Gladius Capital Management LP acquired a new position in shares of Molson Coors Beverage in the 3rd quarter valued at approximately $42,000. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on TAP shares. Barclays lifted their target price on Molson Coors Beverage from $49.00 to $51.00 and gave the stock an "underweight" rating in a report on Monday, November 11th. BNP Paribas assumed coverage on shares of Molson Coors Beverage in a research report on Monday, November 25th. They issued a "neutral" rating and a $64.00 price target for the company. JPMorgan Chase & Co. upped their target price on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the stock a "neutral" rating in a research report on Friday, October 18th. Hsbc Global Res cut shares of Molson Coors Beverage from a "hold" rating to a "moderate sell" rating in a research report on Friday, November 8th. Finally, Wells Fargo & Company raised Molson Coors Beverage from an "underweight" rating to an "overweight" rating and increased their price objective for the company from $52.00 to $74.00 in a report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Molson Coors Beverage presently has an average rating of "Hold" and a consensus price target of $60.00.

Molson Coors Beverage Trading Down 0.7 %

NYSE TAP traded down $0.46 on Tuesday, reaching $61.35. The stock had a trading volume of 955,106 shares, compared to its average volume of 1,906,385. The stock has a fifty day moving average price of $57.57 and a two-hundred day moving average price of $54.56. The firm has a market capitalization of $12.64 billion, a price-to-earnings ratio of 13.91, a P/E/G ratio of 2.40 and a beta of 0.85. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18.

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 (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.13. The firm had revenue of $3.04 billion during the quarter, compared to analysts' expectations of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The firm's revenue for the quarter was down 7.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.92 earnings per share. As a group, sell-side analysts forecast that Molson Coors Beverage will post 5.78 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

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

About Molson Coors Beverage

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.