SG Americas Securities LLC Sells 7,819 Shares of Molson Coors Beverage (NYSE:TAP)

SG Americas Securities LLC reduced its stake in Molson Coors Beverage (NYSE:TAP - Free Report) by 28.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,325 shares of the company's stock after selling 7,819 shares during the period. SG Americas Securities LLC's holdings in Molson Coors Beverage were worth $1,108,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Ashton Thomas Securities LLC acquired a new position in Molson Coors Beverage in the 3rd quarter worth $35,000. Gladius Capital Management LP purchased a new position in Molson Coors Beverage in the third quarter valued at about $42,000. Quarry LP acquired a new stake in Molson Coors Beverage during the 2nd quarter valued at approximately $54,000. True Wealth Design LLC purchased a new stake in Molson Coors Beverage during the 3rd quarter worth approximately $59,000. Finally, Allworth Financial LP raised its position in shares of Molson Coors Beverage by 33.7% in the 3rd quarter. Allworth Financial LP now owns 1,179 shares of the company's stock valued at $68,000 after purchasing an additional 297 shares in the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms recently issued reports on TAP. UBS Group cut their price target on shares of Molson Coors Beverage from $60.00 to $58.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. StockNews.com upgraded shares of Molson Coors Beverage from a "hold" rating to a "buy" rating in a research note on Saturday. Needham & Company LLC assumed coverage on Molson Coors Beverage in a research note on Friday, December 6th. They issued a "buy" rating and a $72.00 price target for the company. Bank of America upgraded Molson Coors Beverage from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $57.00 to $70.00 in a research report on Friday, December 6th. Finally, Wells Fargo & Company raised Molson Coors Beverage from an "underweight" rating to an "overweight" rating and upped their price target for the company from $52.00 to $74.00 in a research report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $61.79.

Molson Coors Beverage Price Performance

Shares of NYSE:TAP traded up $0.17 during midday trading on Wednesday, reaching $55.07. The company's stock had a trading volume of 1,233,689 shares, compared to its average volume of 1,735,013. The business's fifty day simple moving average is $58.15 and its 200-day simple moving average is $56.20. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.74. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The company has a market capitalization of $11.35 billion, a P/E ratio of 12.40, a P/E/G ratio of 2.04 and a beta of 0.86.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its quarterly earnings data on Thursday, November 7th. The company reported $1.80 EPS for the quarter, beating analysts' consensus estimates of $1.67 by $0.13. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.13 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The business's quarterly revenue was down 7.8% compared to the same quarter last year. During the same period last year, the company earned $1.92 EPS. As a group, equities research analysts expect that Molson Coors Beverage will post 5.79 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.20%. The ex-dividend date of this dividend was Friday, December 6th. Molson Coors Beverage's payout ratio is 39.64%.

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.