Molson Coors Beverage (NYSE:TAP) Upgraded at StockNews.com

StockNews.com upgraded shares of Molson Coors Beverage (NYSE:TAP) from a hold rating to a buy rating in a research note issued to investors on Monday morning.

Other research analysts have also recently issued research reports about the stock. Wells Fargo & Company upgraded shares of 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 report on Friday, November 8th. TD Cowen reduced their target price 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. BNP Paribas assumed coverage on Molson Coors Beverage in a research note on Monday, November 25th. They issued a “neutral” rating and a $64.00 price target on the stock. Hsbc Global Res lowered Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. Finally, Bank of America upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $57.00 to $70.00 in a report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $62.00.

Molson Coors Beverage Price Performance

TAP opened at $54.52 on Monday. The stock has a market cap of $11.23 billion, a P/E ratio of 12.28, a P/E/G ratio of 2.36 and a beta of 0.85. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18. 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 company has a fifty day simple moving average of $59.22 and a 200 day simple moving average of $55.86.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.13. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The company had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the prior year, the company earned $1.92 earnings per share. The company’s revenue for the quarter was down 7.8% compared to the same quarter last year. On average, research analysts expect that Molson Coors Beverage will post 5.78 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a $0.44 dividend. The ex-dividend date was Friday, December 6th. This represents a $1.76 annualized dividend and a dividend yield of 3.23%. Molson Coors Beverage’s dividend payout ratio is presently 39.64%.

Institutional Trading of Molson Coors Beverage

Several institutional investors and hedge funds have recently added to or reduced their stakes in TAP. Altshuler Shaham Ltd acquired a new position in shares of Molson Coors Beverage during the 2nd quarter worth about $27,000. Ashton Thomas Securities LLC acquired a new position in Molson Coors Beverage during the third quarter worth approximately $35,000. Gladius Capital Management LP acquired a new position in Molson Coors Beverage during the third quarter worth approximately $42,000. Quarry LP bought a new stake in Molson Coors Beverage in the second quarter valued at approximately $54,000. Finally, True Wealth Design LLC acquired a new stake in shares of Molson Coors Beverage in the third quarter valued at approximately $59,000. 78.46% of the stock is owned by institutional investors.

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.