Hsbc Holdings PLC Sells 250,898 Shares of Molson Coors Beverage Company $TAP

Hsbc Holdings PLC reduced its stake in shares of Molson Coors Beverage Company (NYSE:TAP) by 53.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 221,610 shares of the company’s stock after selling 250,898 shares during the period. Hsbc Holdings PLC’s holdings in Molson Coors Beverage were worth $10,356,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of TAP. Geneos Wealth Management Inc. lifted its holdings in shares of Molson Coors Beverage by 32.9% in the first quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock worth $49,000 after buying an additional 198 shares in the last quarter. UMB Bank n.a. grew its stake in Molson Coors Beverage by 16.5% during the fourth quarter. UMB Bank n.a. now owns 1,467 shares of the company’s stock valued at $68,000 after acquiring an additional 208 shares in the last quarter. New York Life Investment Management LLC increased its holdings in Molson Coors Beverage by 0.9% in the 4th quarter. New York Life Investment Management LLC now owns 22,904 shares of the company’s stock valued at $1,069,000 after acquiring an additional 210 shares during the last quarter. Smartleaf Asset Management LLC increased its holdings in Molson Coors Beverage by 64.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock valued at $27,000 after acquiring an additional 221 shares during the last quarter. Finally, SBI Securities Co. Ltd. lifted its stake in Molson Coors Beverage by 84.1% in the 4th quarter. SBI Securities Co. Ltd. now owns 534 shares of the company’s stock worth $25,000 after purchasing an additional 244 shares in the last quarter. Institutional investors own 78.46% of the company’s stock.

Insiders Place Their Bets

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,245 shares of Molson Coors Beverage stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $42.50, for a total transaction of $52,912.50. Following the completion of the transaction, the director directly owned 9,871 shares of the company’s stock, valued at $419,517.50. The trade was a 11.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 2.27% of the company’s stock.

Molson Coors Beverage Stock Down 1.1%

Shares of NYSE:TAP opened at $38.83 on Thursday. The company has a market cap of $7.28 billion, a price-to-earnings ratio of -3.65 and a beta of 0.42. Molson Coors Beverage Company has a 12 month low of $38.04 and a 12 month high of $54.82. The company has a current ratio of 0.54, a quick ratio of 0.38 and a debt-to-equity ratio of 0.38. The company has a 50-day moving average price of $40.68 and a 200 day moving average price of $44.60.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.26. The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.33 billion. Molson Coors Beverage had a positive return on equity of 9.79% and a negative net margin of 16.14%.The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.50 earnings per share. As a group, equities research analysts predict that Molson Coors Beverage Company will post 4.8 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 29th were issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 4.9%. The ex-dividend date was Friday, May 29th. Molson Coors Beverage’s dividend payout ratio is presently -18.05%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Needham & Company LLC cut their price objective on Molson Coors Beverage from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Friday, May 1st. JPMorgan Chase & Co. dropped their price target on Molson Coors Beverage from $45.00 to $43.00 and set a “neutral” rating for the company in a research note on Monday, April 27th. Wall Street Zen cut Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. Sanford C. Bernstein reduced their price objective on Molson Coors Beverage from $74.00 to $45.00 and set a “market perform” rating on the stock in a research note on Tuesday, May 26th. Finally, Evercore decreased their price objective on Molson Coors Beverage from $50.00 to $47.00 and set an “outperform” rating on the stock in a report on Tuesday, April 21st. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to MarketBeat, Molson Coors Beverage currently has an average rating of “Hold” and a consensus target price of $44.76.

About Molson Coors Beverage

Molson Coors Beverage Company is a leading multinational brewing and beverage enterprise formed through the 2005 merger of Canada’s Molson and the United States’ Coors. The company develops, markets and distributes an array of alcoholic and non-alcoholic beverages, focusing primarily on beer and ready-to-drink products. Its portfolio spans flagship brands such as Coors Light, Molson Canadian and Miller Lite, alongside craft-style offerings like Blue Moon and global imports including Carling and Staropramen.

In addition to its core beer business, Molson Coors has expanded into adjacent categories to capture evolving consumer tastes.