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

Key Points

• HSBC Holdings PLC cut its Molson Coors stake by 53.1% in the fourth quarter, selling 250,898 shares and leaving it with 221,610 shares worth about $10.36 million.
• Molson Coors shares were down 1.1% and recently traded at $38.83, near the lower end of its 52-week range of $38.04 to $54.82.
• The company beat quarterly earnings expectations with EPS of $0.62 versus $0.36 expected, and it continues to pay a quarterly dividend of $0.48, equal to a 4.9% annualized yield.

Hsbc Holdings PLC lessened its stake in shares of Molson Coors Beverage Company (NYSE:TAP - Free Report) by 53.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 221,610 shares of the company's stock after selling 250,898 shares during the quarter. Hsbc Holdings PLC owned about 0.12% of Molson Coors Beverage worth $10,356,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. GoalVest Advisory LLC purchased a new position in shares of Molson Coors Beverage during the fourth quarter valued at approximately $25,000. SBI Securities Co. Ltd. boosted its holdings in Molson Coors Beverage by 84.1% in the fourth quarter. SBI Securities Co. Ltd. now owns 534 shares of the company's stock worth $25,000 after purchasing an additional 244 shares during the last quarter. Basepoint Wealth LLC bought a new stake in Molson Coors Beverage in the 4th quarter worth approximately $26,000. Smartleaf Asset Management LLC grew its position in Molson Coors Beverage by 64.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 565 shares of the company's stock worth $27,000 after purchasing an additional 221 shares during the period. Finally, Larson Financial Group LLC raised its stake in Molson Coors Beverage by 551.1% during the 4th quarter. Larson Financial Group LLC now owns 612 shares of the company's stock valued at $29,000 after buying an additional 518 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Geoffrey E. Molson sold 1,245 shares of the firm's stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $42.50, for a total value of $52,912.50. Following the transaction, the director owned 9,871 shares of the company's stock, valued at $419,517.50. This trade represents 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. 2.27% of the stock is currently owned by insiders.

Molson Coors Beverage Trading Down 1.1%

Shares of Molson Coors Beverage stock opened at $38.83 on Thursday. The company's fifty day simple moving average is $40.68 and its 200-day simple moving average is $44.60. The stock has a market capitalization of $7.28 billion, a PE ratio of -3.65 and a beta of 0.42. Molson Coors Beverage Company has a 1-year low of $38.04 and a 1-year high of $54.82. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.54 and a quick ratio of 0.38.

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, topping the consensus estimate of $0.36 by $0.26. Molson Coors Beverage had a positive return on equity of 9.79% and a negative net margin of 16.14%.The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same period in the prior year, the business posted $0.50 EPS. Molson Coors Beverage's revenue was up 2.0% on a year-over-year basis. As a group, equities analysts anticipate that Molson Coors Beverage Company will post 4.8 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

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

Analyst Upgrades and Downgrades

TAP has been the topic of several research analyst reports. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $42.00 price target on shares of Molson Coors Beverage in a report on Friday, May 1st. UBS Group reduced their price objective on Molson Coors Beverage from $50.00 to $45.00 and set a "neutral" rating for the company in a research report on Tuesday, April 7th. Weiss Ratings reissued a "sell (d)" rating on shares of Molson Coors Beverage in a report on Wednesday, June 24th. The Goldman Sachs Group raised their target price on Molson Coors Beverage from $48.00 to $50.00 in a research report on Friday, May 1st. Finally, Barclays cut their price target on Molson Coors Beverage from $43.00 to $41.00 and set an "underweight" rating for the company in a research note on Friday, May 1st. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have issued a Sell rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average price target of $44.76.

Molson Coors Beverage 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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