Hsbc Holdings PLC Sells 178,083 Shares of Molson Coors Beverage (NYSE:TAP)

Hsbc Holdings PLC reduced its position in shares of Molson Coors Beverage (NYSE:TAP - Free Report) by 33.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 351,480 shares of the company's stock after selling 178,083 shares during the period. Hsbc Holdings PLC owned 0.17% of Molson Coors Beverage worth $20,137,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Pallas Capital Advisors LLC lifted its stake in Molson Coors Beverage by 1.2% in the fourth quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company's stock worth $975,000 after acquiring an additional 199 shares during the period. Venturi Wealth Management LLC raised its position in shares of Molson Coors Beverage by 7.4% in the 4th quarter. Venturi Wealth Management LLC now owns 2,935 shares of the company's stock worth $168,000 after acquiring an additional 202 shares in the last quarter. Truvestments Capital LLC grew its stake in Molson Coors Beverage by 51.4% in the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company's stock worth $34,000 after purchasing an additional 202 shares during the period. SRS Capital Advisors Inc. lifted its position in Molson Coors Beverage by 38.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock valued at $42,000 after buying an additional 203 shares during the period. Finally, Lindbrook Capital LLC boosted its holdings in shares of Molson Coors Beverage by 21.2% during the 4th quarter. Lindbrook Capital LLC now owns 1,247 shares of the company's stock valued at $71,000 after buying an additional 218 shares in the last quarter. 78.46% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on TAP. JPMorgan Chase & Co. dropped their price objective on shares of Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating on the stock in a research note on Thursday, January 30th. UBS Group upped their price objective on Molson Coors Beverage from $58.00 to $63.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. Berenberg Bank initiated coverage on Molson Coors Beverage in a research report on Wednesday, April 2nd. They set a "buy" rating and a $86.90 price objective on the stock. Barclays decreased their target price on Molson Coors Beverage from $62.00 to $61.00 and set an "equal weight" rating for the company in a research report on Thursday, March 27th. Finally, StockNews.com lowered Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Friday, February 21st. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $64.39.

Molson Coors Beverage Price Performance

Shares of NYSE TAP traded up $0.46 during midday trading on Wednesday, reaching $57.52. 2,425,474 shares of the stock traded hands, compared to its average volume of 2,081,757. The company's 50 day moving average is $59.83 and its 200 day moving average is $58.37. Molson Coors Beverage has a one year low of $49.19 and a one year high of $64.66. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. The stock has a market capitalization of $11.65 billion, a PE ratio of 10.75, a P/E/G ratio of 1.52 and a beta of 0.69.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The company reported $1.30 EPS for the quarter, topping analysts' consensus estimates of $1.17 by $0.13. The business had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. On average, equities research analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were issued a $0.47 dividend. This is a boost from Molson Coors Beverage's previous quarterly dividend of $0.44. The ex-dividend date was Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.27%. Molson Coors Beverage's payout ratio is 35.14%.

Molson Coors Beverage 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.