SG Americas Securities LLC Decreases Stock Position in Molson Coors Beverage (NYSE:TAP)

SG Americas Securities LLC cut its stake in Molson Coors Beverage (NYSE:TAP) by 28.8% during the 4th quarter, HoldingsChannel reports. The fund 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 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of TAP. Farther Finance Advisors LLC increased its position in Molson Coors Beverage by 11.8% in the third quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company’s stock worth $99,000 after buying an additional 182 shares during the period. Integrated Investment Consultants LLC raised its position in Molson Coors Beverage by 4.7% in the third quarter. Integrated Investment Consultants LLC now owns 4,154 shares of the company’s stock worth $239,000 after acquiring an additional 185 shares in the last quarter. Perpetual Ltd grew its position in Molson Coors Beverage by 1.0% in the third quarter. Perpetual Ltd now owns 20,543 shares of the company’s stock worth $1,182,000 after buying an additional 197 shares during the last quarter. Pallas Capital Advisors LLC boosted its position in shares of Molson Coors Beverage by 1.2% in the 4th quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company’s stock valued at $975,000 after purchasing an additional 199 shares during the period. Finally, Red Spruce Capital LLC lifted its position in shares of Molson Coors Beverage by 1.0% in the 4th quarter. Red Spruce Capital LLC now owns 27,010 shares of the company’s stock valued at $1,548,000 after acquiring an additional 273 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Price Performance

Shares of TAP stock opened at $54.85 on Wednesday. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18. The stock has a 50-day moving average price of $58.15 and a 200 day moving average price of $56.20. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46. The firm has a market cap of $11.30 billion, a price-to-earnings ratio of 12.35, a PEG ratio of 2.04 and a beta of 0.86.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Thursday, November 7th. The company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.13. The company had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. Molson Coors Beverage’s revenue was down 7.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.92 EPS. Research analysts expect that Molson Coors Beverage will post 5.79 EPS for the current year.

Molson Coors Beverage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.21%. The ex-dividend date of this dividend was Friday, December 6th. Molson Coors Beverage’s dividend payout ratio is 39.64%.

Analyst Upgrades and Downgrades

TAP has been the subject of a number of research analyst reports. StockNews.com raised shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a research report on Saturday. Barclays decreased their price target on shares of Molson Coors Beverage from $51.00 to $48.00 and set an “underweight” rating for the company in a report on Friday, January 17th. UBS Group dropped their price objective 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. TD Cowen dropped their price objective on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a research note on Tuesday, October 8th. Finally, Hsbc Global Res lowered Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $61.79.

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.