Los Angeles Capital Management LLC Sells 50,898 Shares of Molson Coors Beverage (NYSE:TAP)

Los Angeles Capital Management LLC decreased its holdings in Molson Coors Beverage (NYSE:TAP) by 45.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 61,888 shares of the company’s stock after selling 50,898 shares during the period. Los Angeles Capital Management LLC’s holdings in Molson Coors Beverage were worth $3,560,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of TAP. Farther Finance Advisors LLC lifted its position in shares of Molson Coors Beverage by 11.8% during the third quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company’s stock valued at $99,000 after buying an additional 182 shares during the last quarter. Perpetual Ltd boosted its stake in Molson Coors Beverage by 1.0% in the third quarter. Perpetual Ltd now owns 20,543 shares of the company’s stock valued at $1,182,000 after acquiring an additional 197 shares in the last quarter. William Blair Investment Management LLC grew its holdings in Molson Coors Beverage by 4.0% in the first quarter. William Blair Investment Management LLC now owns 6,989 shares of the company’s stock worth $470,000 after purchasing an additional 266 shares during the last quarter. SkyView Investment Advisors LLC grew its holdings in Molson Coors Beverage by 1.8% in the second quarter. SkyView Investment Advisors LLC now owns 15,102 shares of the company’s stock worth $768,000 after purchasing an additional 274 shares during the last quarter. Finally, Private Advisor Group LLC increased its position in shares of Molson Coors Beverage by 0.9% during the third quarter. Private Advisor Group LLC now owns 32,080 shares of the company’s stock worth $1,845,000 after purchasing an additional 277 shares in the last quarter. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Trading Up 2.3 %

NYSE TAP opened at $61.90 on Wednesday. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.75. The company has a market capitalization of $12.82 billion, a PE ratio of 13.94, a P/E/G ratio of 2.60 and a beta of 0.82. The company has a fifty day moving average of $55.80 and a 200 day moving average of $54.24.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.67 by $0.13. The business had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The company’s revenue for the quarter was down 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.92 EPS. Research analysts forecast that Molson Coors Beverage will post 5.74 earnings per share for the current year.

Wall Street Analyst Weigh In

TAP has been the topic of several research analyst reports. Barclays boosted their target price on Molson Coors Beverage from $49.00 to $51.00 and gave the stock an “underweight” rating in a research note on Monday. TD Cowen dropped their price target on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a research note on Tuesday, October 8th. Jefferies Financial Group decreased their price objective on shares of Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating for the company in a research report on Thursday, July 18th. UBS Group lifted their target price 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. Finally, JPMorgan Chase & Co. upped their price target on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $60.31.

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.