Quantinno Capital Management LP Buys 30,830 Shares of Molson Coors Beverage (NYSE:TAP)

Quantinno Capital Management LP lifted its position in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 43.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 101,841 shares of the company's stock after buying an additional 30,830 shares during the period. Quantinno Capital Management LP's holdings in Molson Coors Beverage were worth $5,858,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Cetera Investment Advisers raised its stake in Molson Coors Beverage by 613.8% during the first quarter. Cetera Investment Advisers now owns 44,954 shares of the company's stock worth $3,023,000 after purchasing an additional 38,656 shares during the period. Park Avenue Securities LLC raised its stake in Molson Coors Beverage by 136.0% during the second quarter. Park Avenue Securities LLC now owns 13,430 shares of the company's stock worth $683,000 after purchasing an additional 7,739 shares during the period. CWM LLC raised its stake in Molson Coors Beverage by 99.2% during the second quarter. CWM LLC now owns 11,198 shares of the company's stock worth $569,000 after purchasing an additional 5,576 shares during the period. Manning & Napier Advisors LLC acquired a new stake in shares of Molson Coors Beverage in the second quarter worth $3,842,000. Finally, QRG Capital Management Inc. increased its position in shares of Molson Coors Beverage by 26.5% in the second quarter. QRG Capital Management Inc. now owns 112,445 shares of the company's stock worth $5,716,000 after acquiring an additional 23,521 shares in the last quarter. Hedge funds and other institutional investors own 78.46% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Needham & Company LLC assumed coverage on shares of Molson Coors Beverage in a report on Friday. They set a "buy" rating and a $72.00 price target for the company. BNP Paribas started coverage on shares of Molson Coors Beverage in a report on Monday, November 25th. They set a "neutral" rating and a $64.00 price target for the company. JPMorgan Chase & Co. raised their price objective on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the stock a "neutral" rating in a report on Friday, October 18th. Hsbc Global Res lowered shares of Molson Coors Beverage from a "hold" rating to a "moderate sell" rating in a report on Friday, November 8th. Finally, Barclays raised their price objective on shares of Molson Coors Beverage from $49.00 to $51.00 and gave the stock an "underweight" rating in a report on Monday, November 11th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $62.00.

Molson Coors Beverage Stock Up 0.3 %

NYSE TAP traded up $0.17 during trading on Friday, reaching $61.13. The company's stock had a trading volume of 2,207,038 shares, compared to its average volume of 1,963,675. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $12.59 billion, a PE ratio of 13.77, a PEG ratio of 2.39 and a beta of 0.85. The business has a 50-day moving average price of $58.05 and a 200-day moving average price of $54.73. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its quarterly earnings data 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. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The business 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. Molson Coors Beverage's revenue for the quarter was down 7.8% on a year-over-year basis. On average, research analysts forecast that Molson Coors Beverage will post 5.78 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Friday, December 6th. Molson Coors Beverage's payout ratio is 39.64%.

Molson Coors Beverage Company 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.