Molson Coors Beverage (NYSE:TAP) Shares Sold by GSA Capital Partners LLP

GSA Capital Partners LLP lowered its position in Molson Coors Beverage (NYSE:TAP) by 34.0% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,672 shares of the company’s stock after selling 11,654 shares during the period. GSA Capital Partners LLP’s holdings in Molson Coors Beverage were worth $1,304,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Empowered Funds LLC acquired a new position in Molson Coors Beverage in the 1st quarter worth about $1,334,000. Oppenheimer & Co. Inc. raised its stake in shares of Molson Coors Beverage by 4.5% during the 1st quarter. Oppenheimer & Co. Inc. now owns 10,673 shares of the company’s stock worth $718,000 after buying an additional 462 shares during the period. Sei Investments Co. lifted its position in shares of Molson Coors Beverage by 36.2% during the 1st quarter. Sei Investments Co. now owns 197,541 shares of the company’s stock valued at $13,285,000 after buying an additional 52,523 shares in the last quarter. Avantax Advisory Services Inc. acquired a new stake in Molson Coors Beverage in the 1st quarter valued at $254,000. Finally, ProShare Advisors LLC increased its holdings in Molson Coors Beverage by 2.3% in the 1st quarter. ProShare Advisors LLC now owns 44,316 shares of the company’s stock worth $2,980,000 after acquiring an additional 997 shares in the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Beverage Stock Performance

Molson Coors Beverage stock opened at $63.89 on Thursday. The firm has a 50 day simple moving average of $55.96 and a 200-day simple moving average of $54.31. The stock has a market cap of $13.24 billion, a price-to-earnings ratio of 14.39, a price-to-earnings-growth ratio of 2.41 and a beta of 0.82. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.74. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.13. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The company had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same period in the prior year, the business posted $1.92 earnings per share. The firm’s revenue for the quarter was down 7.8% compared to the same quarter last year. On average, analysts expect that Molson Coors Beverage will post 5.74 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have issued reports on TAP. UBS Group increased their price objective on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Jefferies Financial Group lowered their price objective on Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating on the stock in a report on Thursday, July 18th. JPMorgan Chase & Co. boosted their price objective on Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Barclays raised their target price on Molson Coors Beverage from $49.00 to $51.00 and gave the company an “underweight” rating in a research report on Monday. Finally, Hsbc Global Res cut Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Molson Coors Beverage presently has a consensus rating of “Hold” and a consensus price target of $60.31.

Molson Coors Beverage Profile

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.