Quantinno Capital Management LP Reduces Stock Position in Molson Coors Beverage Company $TAP

Quantinno Capital Management LP trimmed its holdings in Molson Coors Beverage Company (NYSE:TAP) by 44.8% during the first quarter, HoldingsChannel.com reports. The firm owned 524,398 shares of the company’s stock after selling 425,146 shares during the period. Quantinno Capital Management LP’s holdings in Molson Coors Beverage were worth $22,581,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in TAP. Geneos Wealth Management Inc. grew its position in shares of Molson Coors Beverage by 32.9% during the first quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock worth $49,000 after buying an additional 198 shares in the last quarter. UMB Bank n.a. increased its stake in shares of Molson Coors Beverage by 16.5% in the fourth quarter. UMB Bank n.a. now owns 1,467 shares of the company’s stock worth $68,000 after buying an additional 208 shares during the last quarter. New York Life Investment Management LLC raised its holdings in Molson Coors Beverage by 0.9% in the fourth quarter. New York Life Investment Management LLC now owns 22,904 shares of the company’s stock valued at $1,069,000 after acquiring an additional 210 shares in the last quarter. Smartleaf Asset Management LLC boosted its stake in Molson Coors Beverage by 64.2% during the 2nd quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock valued at $27,000 after acquiring an additional 221 shares during the last quarter. Finally, SBI Securities Co. Ltd. boosted its stake in Molson Coors Beverage by 84.1% during the 4th quarter. SBI Securities Co. Ltd. now owns 534 shares of the company’s stock valued at $25,000 after acquiring an additional 244 shares during the last quarter. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. Barclays decreased their price objective on shares of Molson Coors Beverage from $43.00 to $41.00 and set an “underweight” rating for the company in a report on Friday, May 1st. Evercore reduced their price target on shares of Molson Coors Beverage from $50.00 to $47.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 21st. Sanford C. Bernstein reduced their price target on shares of Molson Coors Beverage from $74.00 to $45.00 and set a “market perform” rating on the stock in a research report on Tuesday, May 26th. UBS Group decreased their price target on Molson Coors Beverage from $46.00 to $40.00 and set a “neutral” rating for the company in a research note on Thursday, July 16th. Finally, Wall Street Zen lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $44.00.

Insiders Place Their Bets

In related news, Director Geoffrey E. Molson sold 1,245 shares of the stock in a transaction dated Thursday, May 21st. The shares were sold at an average price of $42.50, for a total transaction of $52,912.50. Following the sale, the director owned 9,871 shares in the company, valued at $419,517.50. This represents a 11.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.27% of the stock is currently owned by company insiders.

Molson Coors Beverage Stock Up 0.2%

TAP stock opened at $41.63 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.54 and a quick ratio of 0.38. Molson Coors Beverage Company has a 1-year low of $38.04 and a 1-year high of $54.82. The firm has a fifty day moving average price of $40.23 and a two-hundred day moving average price of $43.90. The firm has a market cap of $7.81 billion, a price-to-earnings ratio of -3.91 and a beta of 0.42.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Friday, May 1st. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.26. Molson Coors Beverage had a negative net margin of 16.14% and a positive return on equity of 9.79%. The company had revenue of $2.35 billion for the quarter, compared to analysts’ expectations of $2.33 billion. During the same period in the prior year, the company earned $0.50 earnings per share. The firm’s revenue was up 2.0% compared to the same quarter last year. Research analysts predict that Molson Coors Beverage Company will post 4.78 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, August 28th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Friday, August 28th. Molson Coors Beverage’s dividend payout ratio is currently -18.05%.

Molson Coors Beverage Company Profile

Molson Coors Beverage Company is a leading multinational brewing and beverage enterprise formed through the 2005 merger of Canada’s Molson and the United States’ Coors. The company develops, markets and distributes an array of alcoholic and non-alcoholic beverages, focusing primarily on beer and ready-to-drink products. Its portfolio spans flagship brands such as Coors Light, Molson Canadian and Miller Lite, alongside craft-style offerings like Blue Moon and global imports including Carling and Staropramen.

In addition to its core beer business, Molson Coors has expanded into adjacent categories to capture evolving consumer tastes.