Quest Partners LLC Has $92,000 Stock Position in Molson Coors Beverage (NYSE:TAP)

Quest Partners LLC cut its position in shares of Molson Coors Beverage (NYSE:TAP) by 90.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,605 shares of the company’s stock after selling 16,070 shares during the quarter. Quest Partners LLC’s holdings in Molson Coors Beverage were worth $92,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of TAP. AMG National Trust Bank boosted its stake in Molson Coors Beverage by 0.8% during the third quarter. AMG National Trust Bank now owns 315,038 shares of the company’s stock worth $18,121,000 after acquiring an additional 2,389 shares in the last quarter. Claro Advisors LLC bought a new position in Molson Coors Beverage during the third quarter worth $283,000. Gladius Capital Management LP bought a new position in shares of Molson Coors Beverage in the third quarter valued at $42,000. Natixis Advisors LLC lifted its stake in shares of Molson Coors Beverage by 20.4% in the third quarter. Natixis Advisors LLC now owns 39,687 shares of the company’s stock valued at $2,283,000 after buying an additional 6,723 shares in the last quarter. Finally, CIBC Asset Management Inc lifted its stake in shares of Molson Coors Beverage by 4.7% in the third quarter. CIBC Asset Management Inc now owns 31,049 shares of the company’s stock valued at $1,786,000 after buying an additional 1,388 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Price Performance

Shares of NYSE:TAP opened at $62.06 on Friday. The company has a 50 day moving average of $57.28 and a 200 day moving average of $54.55. The stock has a market cap of $12.79 billion, a P/E ratio of 13.98, a P/E/G ratio of 2.37 and a beta of 0.82. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Thursday, November 7th. The company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.67 by $0.13. The company had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. Molson Coors Beverage’s revenue for the quarter was down 7.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.92 earnings per share. As a group, sell-side analysts forecast that Molson Coors Beverage will post 5.78 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Shareholders of record on Friday, December 6th will be paid a $0.44 dividend. The ex-dividend date is Friday, December 6th. This represents a $1.76 dividend on an annualized basis and a yield of 2.84%. Molson Coors Beverage’s dividend payout ratio is presently 39.64%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. UBS Group raised their price target on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Wells Fargo & Company raised shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and raised their price target for the company from $52.00 to $74.00 in a research report on Friday, November 8th. Piper Sandler raised their price objective on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, BNP Paribas assumed coverage on shares of Molson Coors Beverage in a report on Monday, November 25th. They set a “neutral” rating and a $64.00 price objective for the company. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Molson Coors Beverage currently has a consensus rating of “Hold” and a consensus target price of $60.57.

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.