Robeco Institutional Asset Management B.V. Sells 392,740 Shares of Molson Coors Beverage (NYSE:TAP)

Robeco Institutional Asset Management B.V. reduced its stake in Molson Coors Beverage (NYSE:TAP) by 57.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 285,336 shares of the company’s stock after selling 392,740 shares during the quarter. Robeco Institutional Asset Management B.V. owned about 0.13% of Molson Coors Beverage worth $16,413,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Family Firm Inc. bought a new stake in shares of Molson Coors Beverage during the 2nd quarter worth $26,000. Altshuler Shaham Ltd purchased a new stake in Molson Coors Beverage during the second quarter valued at about $27,000. GPS Wealth Strategies Group LLC lifted its stake in Molson Coors Beverage by 83.8% during the second quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock worth $33,000 after purchasing an additional 294 shares during the last quarter. Crewe Advisors LLC purchased a new position in shares of Molson Coors Beverage in the 1st quarter worth about $43,000. Finally, Quarry LP bought a new position in shares of Molson Coors Beverage during the 2nd quarter valued at about $54,000. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Price Performance

Shares of Molson Coors Beverage stock opened at $56.54 on Thursday. The business has a 50 day moving average of $55.39 and a 200 day moving average of $54.42. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The company has a market cap of $11.71 billion, a PE ratio of 10.36, a P/E/G ratio of 2.39 and a beta of 0.82. The company has a quick ratio of 0.75, a current ratio of 0.95 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Tuesday, August 6th. The company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.68 by $0.24. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. The firm had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same period last year, the company posted $1.78 EPS. The company’s quarterly revenue was down .4% compared to the same quarter last year. As a group, equities research analysts forecast that Molson Coors Beverage will post 5.71 earnings per share for the current year.

Analyst Ratings Changes

TAP has been the subject of several research reports. Piper Sandler upped their target price on Molson Coors Beverage from $57.00 to $59.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Bank of America cut their price objective on shares of Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating for the company in a research note on Wednesday, July 10th. TD Cowen decreased their target price on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a research report on Tuesday, October 8th. Wells Fargo & Company upped their price target on shares of Molson Coors Beverage from $50.00 to $54.00 and gave the company an “underweight” rating in a research report on Wednesday, August 7th. Finally, UBS Group lifted their price objective on Molson Coors Beverage from $55.00 to $58.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Molson Coors Beverage presently has a consensus rating of “Hold” and an average price target of $58.62.

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.