Quantinno Capital Management LP Purchases 12,144 Shares of Molson Coors Beverage (NYSE:TAP)

Quantinno Capital Management LP grew its holdings in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 11.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 113,985 shares of the company's stock after buying an additional 12,144 shares during the quarter. Quantinno Capital Management LP owned 0.06% of Molson Coors Beverage worth $6,534,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in TAP. Mufg Securities Americas Inc. acquired a new stake in shares of Molson Coors Beverage during the fourth quarter worth approximately $148,000. Nomura Holdings Inc. acquired a new position in Molson Coors Beverage in the fourth quarter worth about $330,000. OMERS ADMINISTRATION Corp increased its holdings in Molson Coors Beverage by 19.9% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 7,918 shares of the company's stock valued at $454,000 after buying an additional 1,314 shares during the last quarter. Mork Capital Management LLC bought a new stake in Molson Coors Beverage in the fourth quarter valued at about $992,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in Molson Coors Beverage by 6.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,934 shares of the company's stock valued at $3,435,000 after buying an additional 3,589 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on TAP. Morgan Stanley dropped their price objective on shares of Molson Coors Beverage from $63.00 to $58.00 and set an "equal weight" rating on the stock in a research note on Friday, May 9th. UBS Group dropped their target price on Molson Coors Beverage from $63.00 to $59.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. JPMorgan Chase & Co. reduced their price target on shares of Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating for the company in a report on Thursday, January 30th. Barclays cut their price objective on shares of Molson Coors Beverage from $60.00 to $57.00 and set an "equal weight" rating on the stock in a research report on Monday, May 12th. Finally, Needham & Company LLC dropped their price target on shares of Molson Coors Beverage from $72.00 to $65.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Eleven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $62.71.

Molson Coors Beverage Trading Up 0.6%

Molson Coors Beverage stock traded up $0.34 during mid-day trading on Tuesday, hitting $56.95. 2,616,772 shares of the company's stock were exchanged, compared to its average volume of 2,119,263. The company's 50 day simple moving average is $58.55 and its 200-day simple moving average is $58.46. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $11.54 billion, a P/E ratio of 10.64, a PEG ratio of 1.52 and a beta of 0.73. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $64.66.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.30). Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The firm had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period in the prior year, the business earned $0.95 EPS. The business's revenue for the quarter was down 11.3% compared to the same quarter last year. On average, equities analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 3.30%. The ex-dividend date is Friday, June 6th. Molson Coors Beverage's payout ratio is 37.83%.

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.