Hsbc Holdings PLC Decreases Stock Position in Molson Coors Beverage (NYSE:TAP)

Hsbc Holdings PLC decreased its position in shares of Molson Coors Beverage (NYSE:TAP) by 3.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 549,467 shares of the company’s stock after selling 20,637 shares during the period. Hsbc Holdings PLC owned approximately 0.26% of Molson Coors Beverage worth $27,932,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Family Firm Inc. purchased a new position in Molson Coors Beverage during the 2nd quarter valued at approximately $26,000. Raleigh Capital Management Inc. grew its stake in shares of Molson Coors Beverage by 2,087.5% in the 4th quarter. Raleigh Capital Management Inc. now owns 525 shares of the company’s stock worth $32,000 after buying an additional 501 shares in the last quarter. GPS Wealth Strategies Group LLC increased its holdings in shares of Molson Coors Beverage by 83.8% in the 2nd quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock worth $33,000 after buying an additional 294 shares during the last quarter. Transcendent Capital Group LLC purchased a new stake in shares of Molson Coors Beverage during the 4th quarter valued at about $36,000. Finally, Quarry LP lifted its holdings in shares of Molson Coors Beverage by 69.3% in the 4th quarter. Quarry LP now owns 657 shares of the company’s stock valued at $40,000 after acquiring an additional 269 shares during the last quarter. 78.46% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. TD Cowen cut Molson Coors Beverage from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $68.00 to $58.00 in a research note on Wednesday, August 7th. Bank of America lowered their price target on Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating for the company in a research report on Wednesday, July 10th. JPMorgan Chase & Co. boosted their price objective on shares of Molson Coors Beverage from $54.00 to $57.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Barclays raised their target price on shares of Molson Coors Beverage from $47.00 to $49.00 and gave the stock an “underweight” rating in a report on Thursday, August 8th. Finally, Piper Sandler upped their price target on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $60.53.

Molson Coors Beverage Stock Down 1.5 %

Shares of NYSE:TAP opened at $54.49 on Friday. The business’s 50 day moving average is $53.77 and its 200 day moving average is $56.90. The stock has a market cap of $11.54 billion, a P/E ratio of 10.90, a price-to-earnings-growth ratio of 2.33 and a beta of 0.81. 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 0.75, a current ratio of 0.95 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.68 by $0.24. Molson Coors Beverage had a return on equity of 9.58% and a net margin of 8.27%. The firm had revenue of $3.25 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same quarter last year, the firm posted $1.78 earnings per share. The business’s revenue for the quarter was down .4% on a year-over-year basis. Sell-side analysts predict that Molson Coors Beverage will post 5.75 EPS for the current year.

Molson Coors Beverage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 20th. Stockholders of record on Friday, August 30th were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, August 30th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.23%. Molson Coors Beverage’s dividend payout ratio is presently 35.20%.

Molson Coors Beverage Company 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.