Molson Coors Beverage (NYSE:TAP) Given Average Rating of “Hold” by Analysts

Shares of Molson Coors Beverage (NYSE:TAP) have been given an average recommendation of “Hold” by the fifteen research firms that are covering the firm, Marketbeat reports. Ten analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $63.60.

A number of equities analysts have weighed in on TAP shares. Citigroup upgraded shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and increased their target price for the stock from $47.00 to $57.00 in a research report on Wednesday, February 5th. JPMorgan Chase & Co. cut their price objective on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. StockNews.com cut Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Morgan Stanley increased their price target on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $72.00 price target on shares of Molson Coors Beverage in a research note on Wednesday, February 12th.

Institutional Trading of Molson Coors Beverage

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Norges Bank bought a new position in Molson Coors Beverage in the 4th quarter worth $142,407,000. Fairfax Financial Holdings Ltd. Can purchased a new position in shares of Molson Coors Beverage during the fourth quarter valued at about $68,010,000. State Street Corp raised its stake in Molson Coors Beverage by 8.4% in the third quarter. State Street Corp now owns 8,792,196 shares of the company’s stock worth $505,727,000 after buying an additional 681,757 shares in the last quarter. Estuary Capital Management LP purchased a new stake in Molson Coors Beverage in the fourth quarter worth about $39,052,000. Finally, Freestone Grove Partners LP bought a new stake in Molson Coors Beverage during the 4th quarter valued at approximately $29,913,000. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Performance

TAP stock opened at $60.52 on Tuesday. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The firm has a market cap of $12.26 billion, a PE ratio of 11.31, a P/E/G ratio of 1.52 and a beta of 0.81. The business has a 50 day moving average of $58.11 and a 200-day moving average of $57.69. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.13. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The firm had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.71 billion. As a group, sell-side analysts expect that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were paid a dividend of $0.47 per share. The ex-dividend date was Thursday, February 27th. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a dividend yield of 3.11%. Molson Coors Beverage’s payout ratio is 35.14%.

Molson Coors Beverage Company 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.