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

Key Points

• HSBC Holdings PLC cut its Molson Coors position by 53.1% in the fourth quarter, selling 250,898 shares and ending with 221,610 shares worth about $10.36 million.
• Molson Coors reported better-than-expected quarterly results, posting EPS of $0.62 versus the $0.36 estimate and revenue of $2.35 billion, up 2.0% year over year.
• Analysts remain cautious on TAP, with a consensus rating of “Hold” and an average price target of $44.88, while the stock recently traded near $40.45 and offers a 4.7% dividend yield.

Hsbc Holdings PLC decreased its position in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 53.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 221,610 shares of the company's stock after selling 250,898 shares during the quarter. Hsbc Holdings PLC owned approximately 0.12% of Molson Coors Beverage worth $10,356,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GoalVest Advisory LLC bought a new stake in Molson Coors Beverage during the 4th quarter valued at $25,000. SBI Securities Co. Ltd. grew its stake in shares of Molson Coors Beverage by 84.1% during the fourth quarter. SBI Securities Co. Ltd. now owns 534 shares of the company's stock worth $25,000 after acquiring an additional 244 shares during the last quarter. Basepoint Wealth LLC purchased a new stake in Molson Coors Beverage during the 4th quarter worth approximately $26,000. Smartleaf Asset Management LLC grew its holdings in shares of Molson Coors Beverage by 64.2% during the second quarter. Smartleaf Asset Management LLC now owns 565 shares of the company's stock valued at $27,000 after buying an additional 221 shares during the last quarter. Finally, Larson Financial Group LLC lifted its position in Molson Coors Beverage by 551.1% during the 4th quarter. Larson Financial Group LLC now owns 612 shares of the company's stock worth $29,000 after acquiring an additional 518 shares during the period. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Trading Down 0.2%

TAP stock opened at $40.45 on Friday. The company has a current ratio of 0.54, a quick ratio of 0.38 and a debt-to-equity ratio of 0.38. Molson Coors Beverage Company has a 12-month low of $38.04 and a 12-month high of $54.82. The stock has a market cap of $7.59 billion, a price-to-earnings ratio of -3.80 and a beta of 0.41. The business's 50-day moving average is $41.39 and its 200 day moving average is $45.08.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.36 by $0.26. The firm had revenue of $2.35 billion during 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 firm's revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.50 EPS. On average, sell-side analysts anticipate that Molson Coors Beverage Company will post 4.8 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 29th were paid a $0.48 dividend. This represents a $1.92 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend was Friday, May 29th. Molson Coors Beverage's dividend payout ratio (DPR) is currently -18.05%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on TAP. Sanford C. Bernstein reduced their price objective on Molson Coors Beverage from $74.00 to $45.00 and set a "market perform" rating for the company in a research note on Tuesday, May 26th. Zacks Research upgraded Molson Coors Beverage from a "strong sell" rating to a "hold" rating in a research note on Monday, April 13th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $42.00 target price on shares of Molson Coors Beverage in a report on Friday, May 1st. Needham & Company LLC decreased their price target on Molson Coors Beverage from $52.00 to $50.00 and set a "buy" rating for the company in a report on Friday, May 1st. Finally, Evercore lowered their price objective on Molson Coors Beverage from $50.00 to $47.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 21st. Four equities research analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat.com, Molson Coors Beverage currently has a consensus rating of "Hold" and a consensus target price of $44.88.

Insiders Place Their Bets

In related news, Director Geoffrey E. Molson sold 1,245 shares of the company's stock in a transaction dated 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 sale, the director owned 9,871 shares of the company's stock, valued at approximately $419,517.50. This represents a 11.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.27% of the company's stock.

Molson Coors Beverage Company Profile

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.

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