Molson Coors Beverage Company $TAP Shares Sold by Quantinno Capital Management LP

Key Points

• Quantinno Capital Management cut its Molson Coors stake by 44.8% in the first quarter, selling 425,146 shares and retaining 524,398 shares worth approximately $22.6 million. Institutional investors collectively own 78.46% of TAP.
• Analysts maintain a largely cautious outlook, with a consensus “Hold” rating and an average price target of $44.00. Several firms recently lowered their targets, while the stock opened at $41.63.
• Molson Coors exceeded quarterly earnings expectations, reporting $0.62 in EPS versus a $0.36 consensus estimate and revenue of $2.35 billion. The company also declared a quarterly dividend of $0.48 per share, representing a 4.6% annualized yield.

Quantinno Capital Management LP reduced its stake in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 44.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 524,398 shares of the company's stock after selling 425,146 shares during the period. Quantinno Capital Management LP owned 0.28% of Molson Coors Beverage worth $22,581,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of TAP. SBI Securities Co. Ltd. raised its stake in Molson Coors Beverage by 84.1% during the fourth quarter. SBI Securities Co. Ltd. now owns 534 shares of the company's stock worth $25,000 after purchasing an additional 244 shares during the period. Basepoint Wealth LLC acquired a new position in shares of Molson Coors Beverage in the 4th quarter valued at $26,000. Smartleaf Asset Management LLC grew its stake in shares of 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 buying an additional 221 shares during the period. Larson Financial Group LLC grew its stake in shares of Molson Coors Beverage by 551.1% during the 4th quarter. Larson Financial Group LLC now owns 612 shares of the company's stock valued at $29,000 after buying an additional 518 shares during the period. Finally, Clearstead Advisors LLC increased its holdings in shares of Molson Coors Beverage by 223.0% during the 4th quarter. Clearstead Advisors LLC now owns 659 shares of the company's stock worth $31,000 after buying an additional 455 shares during the last quarter. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Molson Coors Beverage

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,245 shares of the business's stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $42.50, for a total value of $52,912.50. Following the transaction, the director owned 9,871 shares in the company, valued at $419,517.50. The trade was a 11.20% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 2.27% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wall Street Zen cut Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Sunday, May 17th. Jefferies Financial Group dropped their price target on Molson Coors Beverage from $43.00 to $41.00 in a research note on Friday, June 12th. Barclays cut their price objective on Molson Coors Beverage from $43.00 to $41.00 and set an "underweight" rating on the stock in a report on Friday, May 1st. Morgan Stanley reduced their price objective on Molson Coors Beverage from $52.00 to $46.00 and set an "equal weight" rating on the stock in a research note on Monday, May 4th. Finally, Sanford C. Bernstein decreased their target price on Molson Coors Beverage from $74.00 to $45.00 and set a "market perform" rating for the company in a report on Tuesday, May 26th. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $44.00.

Molson Coors Beverage Stock Up 0.2%

Shares of NYSE:TAP opened at $41.63 on Friday. The company has a market capitalization of $7.81 billion, a price-to-earnings ratio of -3.91 and a beta of 0.42. The company has a 50 day moving average of $40.23 and a two-hundred day moving average of $43.90. Molson Coors Beverage Company has a 52-week low of $38.04 and a 52-week high of $54.82. The company has a quick ratio of 0.38, a current ratio of 0.54 and a debt-to-equity ratio of 0.38.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its earnings results on Friday, May 1st. The company reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.26. The business had revenue of $2.35 billion for the quarter, compared to analysts' expectations of $2.33 billion. Molson Coors Beverage had a negative net margin of 16.14% and a positive return on equity of 9.79%. The business's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.50 earnings per share. As a group, analysts forecast that Molson Coors Beverage Company will post 4.78 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

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

Molson Coors Beverage 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.

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