SG Americas Securities LLC Sells 7,819 Shares of Molson Coors Beverage (NYSE:TAP)

SG Americas Securities LLC lowered its stake in shares of Molson Coors Beverage (NYSE:TAP) by 28.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 19,325 shares of the company’s stock after selling 7,819 shares during the quarter. SG Americas Securities LLC’s holdings in Molson Coors Beverage were worth $1,108,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new stake in shares of Molson Coors Beverage during the 3rd quarter worth approximately $35,000. Gladius Capital Management LP purchased a new position in Molson Coors Beverage in the 3rd quarter worth approximately $42,000. Quarry LP purchased a new stake in Molson Coors Beverage in the 2nd quarter valued at $54,000. True Wealth Design LLC acquired a new stake in shares of Molson Coors Beverage during the 3rd quarter worth approximately $59,000. Finally, Allworth Financial LP grew its holdings in shares of Molson Coors Beverage by 33.7% during the 3rd quarter. Allworth Financial LP now owns 1,179 shares of the company’s stock worth $68,000 after purchasing an additional 297 shares during the period. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Price Performance

NYSE:TAP opened at $54.85 on Wednesday. The firm has a market cap of $11.30 billion, a price-to-earnings ratio of 12.35, a price-to-earnings-growth ratio of 2.04 and a beta of 0.86. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. The company’s 50-day moving average is $58.15 and its two-hundred day moving average is $56.20.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Thursday, November 7th. The company reported $1.80 EPS for the quarter, beating the consensus estimate of $1.67 by $0.13. The company had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The firm’s revenue was down 7.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.92 EPS. Research analysts expect that Molson Coors Beverage will post 5.79 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.21%. The ex-dividend date was Friday, December 6th. Molson Coors Beverage’s payout ratio is currently 39.64%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on TAP shares. Barclays dropped their price objective on Molson Coors Beverage from $51.00 to $48.00 and set an “underweight” rating for the company in a research note on Friday, January 17th. TD Cowen dropped 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 upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and raised their target price for the stock from $52.00 to $74.00 in a research report on Friday, November 8th. StockNews.com upgraded Molson Coors Beverage from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, JPMorgan Chase & Co. raised their price target on Molson Coors Beverage from $57.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, Molson Coors Beverage currently has an average rating of “Hold” and a consensus target price of $61.79.

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.