Hsbc Holdings PLC Trims Stake in Molson Coors Beverage (NYSE:TAP)

Hsbc Holdings PLC reduced its holdings in Molson Coors Beverage (NYSE:TAP - Free Report) by 33.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 351,480 shares of the company's stock after selling 178,083 shares during the quarter. Hsbc Holdings PLC owned 0.17% of Molson Coors Beverage worth $20,137,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. HighTower Advisors LLC increased its position in shares of Molson Coors Beverage by 123.3% in the fourth quarter. HighTower Advisors LLC now owns 18,258 shares of the company's stock worth $1,047,000 after purchasing an additional 10,080 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Molson Coors Beverage by 1.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company's stock worth $2,046,000 after buying an additional 563 shares during the last quarter. US Bancorp DE raised its position in shares of Molson Coors Beverage by 103.9% during the 4th quarter. US Bancorp DE now owns 19,285 shares of the company's stock valued at $1,106,000 after buying an additional 9,825 shares in the last quarter. Unified Investment Management bought a new stake in shares of Molson Coors Beverage during the 4th quarter worth $871,000. Finally, Wilsey Asset Management Inc. grew its position in Molson Coors Beverage by 1.6% in the fourth quarter. Wilsey Asset Management Inc. now owns 550,539 shares of the company's stock worth $31,557,000 after acquiring an additional 8,679 shares in the last quarter. Hedge funds and other institutional investors own 78.46% of the company's stock.

Analyst Ratings Changes

TAP has been the subject of several research analyst reports. Citigroup raised Molson Coors Beverage from a "sell" rating to a "neutral" rating and lifted their price target for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. Needham & Company LLC reaffirmed a "buy" rating and issued a $72.00 target price on shares of Molson Coors Beverage in a research note on Monday, April 14th. Berenberg Bank initiated coverage on shares of Molson Coors Beverage in a research note on Wednesday, April 2nd. They set a "buy" rating and a $86.90 price target on the stock. UBS Group upped their price objective on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Finally, StockNews.com cut shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Friday, February 21st. Eleven analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $64.39.

Molson Coors Beverage Trading Down 2.6 %

NYSE TAP opened at $56.82 on Friday. The stock has a market cap of $11.51 billion, a P/E ratio of 10.62, a price-to-earnings-growth ratio of 1.52 and a beta of 0.69. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $64.66. The stock has a 50 day simple moving average of $59.96 and a two-hundred day simple moving average of $58.34. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94.

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

Molson Coors Beverage Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were given a dividend of $0.47 per share. The ex-dividend date was Thursday, February 27th. This represents a $1.88 annualized dividend and a dividend yield of 3.31%. This is a boost from Molson Coors Beverage's previous quarterly dividend of $0.44. Molson Coors Beverage's payout ratio is currently 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.

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