Quantbot Technologies LP Takes $7.31 Million Position in Molson Coors Beverage (NYSE:TAP)

Quantbot Technologies LP purchased a new position in Molson Coors Beverage (NYSE:TAP) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 143,773 shares of the company’s stock, valued at approximately $7,308,000. Quantbot Technologies LP owned about 0.07% of Molson Coors Beverage at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of TAP. Family Firm Inc. purchased a new stake in shares of Molson Coors Beverage during the 2nd quarter worth about $26,000. Raleigh Capital Management Inc. lifted its stake in Molson Coors Beverage by 2,087.5% in the fourth quarter. Raleigh Capital Management Inc. now owns 525 shares of the company’s stock valued at $32,000 after acquiring an additional 501 shares during the last quarter. Transcendent Capital Group LLC bought a new stake in Molson Coors Beverage in the fourth quarter worth approximately $36,000. Crewe Advisors LLC bought a new stake in Molson Coors Beverage in the first quarter worth approximately $43,000. Finally, GPS Wealth Strategies Group LLC grew 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 worth $33,000 after acquiring an additional 294 shares in the last quarter. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

TAP has been the subject of several analyst reports. Barclays lifted their price objective on shares of Molson Coors Beverage from $47.00 to $49.00 and gave the company an “underweight” rating in a research note on Thursday, August 8th. Bank of America decreased their price target on Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. Piper Sandler boosted their price objective on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Citigroup lowered their target price on shares of Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating on the stock in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Molson Coors Beverage from $54.00 to $57.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, Molson Coors Beverage has an average rating of “Hold” and an average price target of $60.53.

Molson Coors Beverage Stock Up 1.2 %

TAP opened at $54.94 on Monday. The company has a market capitalization of $11.38 billion, a P/E ratio of 10.99, a P/E/G ratio of 2.33 and a beta of 0.81. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.75. The firm’s fifty day moving average price is $53.30 and its two-hundred day moving average price is $57.12. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Tuesday, August 6th. The company reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.68 by $0.24. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. The business had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same period in the previous year, the business earned $1.78 EPS. The firm’s revenue was down .4% on a year-over-year basis. On average, analysts anticipate that Molson Coors Beverage will post 5.75 EPS for the current year.

Molson Coors Beverage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 30th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a $1.76 annualized dividend and a dividend yield of 3.20%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 35.20%.

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.