Molson Coors Beverage (NYSE:TAP) Shares Sold by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio cut its stake in shares of Molson Coors Beverage (NYSE:TAP) by 8.8% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 68,784 shares of the company’s stock after selling 6,613 shares during the period. Public Employees Retirement System of Ohio’s holdings in Molson Coors Beverage were worth $3,956,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Family Firm Inc. purchased a new stake in shares of Molson Coors Beverage during the second quarter worth about $26,000. Altshuler Shaham Ltd purchased a new stake in Molson Coors Beverage during the 2nd quarter worth approximately $27,000. Ashton Thomas Securities LLC acquired a new position in shares of Molson Coors Beverage during the third quarter valued at approximately $35,000. Gladius Capital Management LP purchased a new position in shares of Molson Coors Beverage in the third quarter valued at approximately $42,000. Finally, Quarry LP acquired a new stake in shares of Molson Coors Beverage in the second quarter worth approximately $54,000. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Price Performance

TAP stock opened at $61.07 on Monday. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46. The stock has a market cap of $12.58 billion, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 2.38 and a beta of 0.85. The business has a fifty day moving average of $58.53 and a two-hundred day moving average of $55.01.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period last year, the company earned $1.92 EPS. The company’s quarterly revenue was down 7.8% on a year-over-year basis. As a group, research analysts anticipate that Molson Coors Beverage will post 5.78 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a $0.44 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.76 annualized dividend and a dividend yield of 2.88%. Molson Coors Beverage’s dividend payout ratio is currently 39.64%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. BNP Paribas started coverage on Molson Coors Beverage in a research note on Monday, November 25th. They issued a “neutral” rating and a $64.00 price objective for the company. Hsbc Global Res downgraded shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. StockNews.com raised shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a research note on Friday. TD Cowen cut their price objective on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a report on Tuesday, October 8th. Finally, Bank of America upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $57.00 to $70.00 in a report on Friday, December 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Molson Coors Beverage presently has an average rating of “Hold” and an average target price of $62.00.

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.