Robeco Institutional Asset Management B.V. Sells 392,740 Shares of Molson Coors Beverage (NYSE:TAP)

Robeco Institutional Asset Management B.V. cut its position in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 57.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 285,336 shares of the company's stock after selling 392,740 shares during the quarter. Robeco Institutional Asset Management B.V. owned 0.13% of Molson Coors Beverage worth $16,413,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of TAP. Family Firm Inc. acquired a new position in Molson Coors Beverage in the second quarter worth $26,000. Altshuler Shaham Ltd bought a new stake in Molson Coors Beverage during the 2nd quarter worth about $27,000. GPS Wealth Strategies Group LLC increased its holdings in shares of 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 in the last quarter. Crewe Advisors LLC bought a new stake in shares of Molson Coors Beverage during the first quarter worth approximately $43,000. Finally, Quarry LP acquired a new position in Molson Coors Beverage in the second quarter valued at about $54,000. Institutional investors and hedge funds own 78.46% of the company's stock.

Analysts Set New Price Targets

TAP has been the topic of several research reports. UBS Group boosted their price objective on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the company a "neutral" rating in a research report on Wednesday, August 7th. Barclays boosted their price target on shares of Molson Coors Beverage from $47.00 to $49.00 and gave the stock an "underweight" rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. boosted their price target 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. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the stock a "hold" rating in a research report on Wednesday, August 7th. Finally, Wells Fargo & Company boosted their price target on shares of Molson Coors Beverage from $50.00 to $54.00 and gave the stock an "underweight" rating in a research report on Wednesday, August 7th. Three equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Molson Coors Beverage presently has a consensus rating of "Hold" and an average target price of $58.62.

Molson Coors Beverage Price Performance

Shares of NYSE TAP traded up $0.29 during trading hours on Thursday, hitting $56.81. 1,941,129 shares of the stock were exchanged, compared to its average volume of 1,897,478. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.95. The company has a market cap of $11.77 billion, a PE ratio of 10.44, a price-to-earnings-growth ratio of 2.43 and a beta of 0.82. The company's fifty day simple moving average is $55.39 and its two-hundred day simple moving average is $54.42. 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 posted its quarterly earnings results on Tuesday, August 6th. The company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.68 by $0.24. The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.18 billion. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. The firm's revenue for the quarter was down .4% on a year-over-year basis. During the same quarter last year, the business posted $1.78 EPS. On average, sell-side analysts predict that Molson Coors Beverage will post 5.71 EPS for the current 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.