Hsbc Holdings PLC Buys 115,186 Shares of Molson Coors Beverage Company $TAP

Hsbc Holdings PLC grew its stake in shares of Molson Coors Beverage Company (NYSE:TAPFree Report) by 32.8% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 466,666 shares of the company’s stock after acquiring an additional 115,186 shares during the quarter. Hsbc Holdings PLC’s holdings in Molson Coors Beverage were worth $28,424,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Fuller & Thaler Asset Management Inc. boosted its position in shares of Molson Coors Beverage by 69.8% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 22,625 shares of the company’s stock valued at $1,377,000 after buying an additional 9,300 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Molson Coors Beverage during the first quarter valued at $2,760,000. Wellington Management Group LLP boosted its position in shares of Molson Coors Beverage by 32.3% during the first quarter. Wellington Management Group LLP now owns 6,839 shares of the company’s stock valued at $416,000 after buying an additional 1,670 shares during the last quarter. Brooklyn Investment Group boosted its position in shares of Molson Coors Beverage by 344.7% during the first quarter. Brooklyn Investment Group now owns 1,632 shares of the company’s stock valued at $99,000 after buying an additional 1,265 shares during the last quarter. Finally, Elequin Capital LP purchased a new stake in shares of Molson Coors Beverage during the first quarter valued at $30,000. 78.46% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Beverage Trading Up 2.0%

Shares of NYSE:TAP opened at $52.7750 on Friday. The stock has a market capitalization of $10.67 billion, a price-to-earnings ratio of 10.41, a PEG ratio of 1.88 and a beta of 0.67. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.95. The stock’s 50-day simple moving average is $49.79 and its two-hundred day simple moving average is $54.91. Molson Coors Beverage Company has a 52-week low of $46.94 and a 52-week high of $64.66.

Molson Coors Beverage (NYSE:TAPGet Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.22. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%.The business had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.12 billion. During the same period last year, the firm posted $1.92 earnings per share. The business’s revenue for the quarter was down 1.6% on a year-over-year basis. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. Analysts expect that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Stockholders of record on Friday, September 5th will be given a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.6%. The ex-dividend date of this dividend is Friday, September 5th. Molson Coors Beverage’s payout ratio is presently 37.08%.

Wall Street Analyst Weigh In

TAP has been the topic of several recent analyst reports. Citigroup dropped their price objective on Molson Coors Beverage from $56.00 to $51.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 15th. Barclays dropped their price objective on Molson Coors Beverage from $53.00 to $49.00 and set an “equal weight” rating on the stock in a research report on Thursday, August 7th. Evercore ISI dropped their price objective on Molson Coors Beverage from $58.00 to $53.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 6th. UBS Group dropped their price objective on Molson Coors Beverage from $53.00 to $52.00 and set a “neutral” rating on the stock in a research report on Wednesday, August 6th. Finally, Roth Capital set a $71.00 price objective on Molson Coors Beverage and gave the company a “buy” rating in a research report on Tuesday, May 20th. Six research analysts have rated the stock with a Buy rating and ten have issued a Hold rating to the stock. According to data from MarketBeat.com, Molson Coors Beverage currently has a consensus rating of “Hold” and an average price target of $58.12.

Get Our Latest Report on Molson Coors Beverage

Molson Coors Beverage Company Profile

(Free Report)

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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Institutional Ownership by Quarter for Molson Coors Beverage (NYSE:TAP)

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