Molson Coors Beverage (NYSE:TAP) Receives Consensus Rating of “Reduce” from Analysts

Molson Coors Beverage (NYSE:TAP) has earned a consensus rating of “Reduce” from the fourteen analysts that are presently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $59.36.

Several research firms recently commented on TAP. Citigroup reduced their price objective on shares of Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating for the company in a research note on Wednesday, July 10th. Barclays raised their price objective on Molson Coors Beverage from $47.00 to $49.00 and gave the stock an “underweight” rating in a research report on Thursday, August 8th. JPMorgan Chase & Co. upped their target price on Molson Coors Beverage from $54.00 to $57.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. TD Cowen downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating and cut their price objective for the company from $68.00 to $58.00 in a report on Wednesday, August 7th. Finally, Piper Sandler boosted their target price on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Family Firm Inc. acquired a new stake in Molson Coors Beverage during the second quarter worth $26,000. Raleigh Capital Management Inc. raised its holdings in Molson Coors Beverage by 2,087.5% in the fourth quarter. Raleigh Capital Management Inc. now owns 525 shares of the company’s stock valued at $32,000 after acquiring an additional 501 shares in the last quarter. Altshuler Shaham Ltd purchased a new stake in shares of Molson Coors Beverage in the 2nd quarter valued at approximately $27,000. Transcendent Capital Group LLC acquired a new stake in shares of Molson Coors Beverage during the 4th quarter worth about $36,000. Finally, Crewe Advisors LLC purchased a new position in shares of Molson Coors Beverage in the 1st quarter valued at $43,000. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Down 1.8 %

NYSE TAP opened at $55.04 on Tuesday. The stock has a 50 day moving average price of $54.38 and a 200-day moving average price of $56.06. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18. The company has a market capitalization of $11.66 billion, a P/E ratio of 11.01, a P/E/G ratio of 2.38 and a beta of 0.81. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.95.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.68 by $0.24. The firm had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.18 billion. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. The firm’s revenue for the quarter was down .4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.78 EPS. As a group, equities analysts predict that Molson Coors Beverage will post 5.75 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 20th. Investors of record on Friday, August 30th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.20%. The ex-dividend date was Friday, August 30th. Molson Coors Beverage’s payout ratio is 35.20%.

About Molson Coors Beverage

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.