Hsbc Holdings PLC Acquires 115,186 Shares of Molson Coors Beverage Company $TAP

Key Points

• Hsbc Holdings PLC increased its stake in Molson Coors Beverage Company by 32.8% during the first quarter, owning approximately 0.23% of the company, valued at $28.4 million.
• Molson Coors reported earnings of $2.05 per share for the recent quarter, exceeding estimates, with a revenue of $3.20 billion, although down 1.6% year-over-year.
• The company declared a quarterly dividend of $0.47 per share, reflecting a 3.6% dividend yield and a payout ratio of 37.08%.

Hsbc Holdings PLC boosted its position in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 32.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 466,666 shares of the company's stock after acquiring an additional 115,186 shares during the period. Hsbc Holdings PLC owned 0.23% of Molson Coors Beverage worth $28,424,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Randolph Co Inc raised its stake in Molson Coors Beverage by 26.2% during the 4th quarter. Randolph Co Inc now owns 477,187 shares of the company's stock worth $27,352,000 after acquiring an additional 98,984 shares during the period. Principal Financial Group Inc. raised its stake in Molson Coors Beverage by 14.7% during the 1st quarter. Principal Financial Group Inc. now owns 238,178 shares of the company's stock worth $14,498,000 after acquiring an additional 30,463 shares during the period. Nuveen LLC purchased a new stake in Molson Coors Beverage during the 1st quarter valued at approximately $22,253,000. Kendall Capital Management grew its holdings in Molson Coors Beverage by 42.7% during the 1st quarter. Kendall Capital Management now owns 19,995 shares of the company's stock valued at $1,217,000 after buying an additional 5,985 shares in the last quarter. Finally, Estuary Capital Management LP purchased a new stake in Molson Coors Beverage during the 4th quarter valued at approximately $39,052,000. Institutional investors own 78.46% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on TAP. Wells Fargo & Company cut their price objective on shares of Molson Coors Beverage from $65.00 to $58.00 and set an "overweight" rating for the company in a report on Wednesday, June 25th. Needham & Company LLC cut their price objective on shares of Molson Coors Beverage from $65.00 to $58.00 and set a "buy" rating for the company in a report on Wednesday, August 6th. Bank of America lowered shares of Molson Coors Beverage from a "buy" rating to a "neutral" rating and cut their price objective for the company from $65.00 to $50.00 in a report on Friday, June 27th. Barclays cut their price objective on shares of Molson Coors Beverage from $53.00 to $49.00 and set an "equal weight" rating for the company in a report on Thursday, August 7th. Finally, Citigroup cut their price objective on shares of Molson Coors Beverage from $56.00 to $51.00 and set a "neutral" rating for the company in a report on Tuesday, July 15th. Six equities research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $58.12.

Molson Coors Beverage Trading Up 1.5%

NYSE TAP traded up $0.77 on Wednesday, hitting $51.10. 790,618 shares of the stock were exchanged, compared to its average volume of 2,449,528. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.95. The stock has a fifty day moving average price of $49.85 and a two-hundred day moving average price of $54.87. The firm has a market capitalization of $10.33 billion, a P/E ratio of 10.08, a P/E/G ratio of 1.88 and a beta of 0.67. Molson Coors Beverage Company has a 52-week low of $46.94 and a 52-week high of $64.66.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.83 by $0.22. The company had revenue of $3.20 billion during the quarter, compared to analyst estimates of $3.12 billion. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. Molson Coors Beverage's quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.92 earnings per share. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. Research analysts forecast that Molson Coors Beverage Company will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.7%. The ex-dividend date of this dividend is Friday, September 5th. Molson Coors Beverage's payout ratio is presently 37.08%.

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.