Molson Coors Beverage (NYSE:TAP) Receives $63.27 Consensus Target Price from Brokerages

Molson Coors Beverage (NYSE:TAP) has earned a consensus rating of “Hold” from the fifteen research firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating on the company. The average 1-year price objective among brokers that have covered the stock in the last year is $63.27.

Several equities analysts have recently commented on TAP shares. BNP Paribas initiated coverage on Molson Coors Beverage in a report on Monday, November 25th. They set a “neutral” rating and a $64.00 target price for the company. StockNews.com downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Citigroup upgraded Molson Coors Beverage from a “sell” rating to a “neutral” rating and boosted their price objective for the stock from $47.00 to $57.00 in a research report on Wednesday, February 5th. Morgan Stanley increased their target price 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, JPMorgan Chase & Co. decreased their target price on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th.

Institutional Trading of Molson Coors Beverage

Several large investors have recently added to or reduced their stakes in the business. Creative Planning boosted its holdings in Molson Coors Beverage by 14.7% in the third quarter. Creative Planning now owns 18,890 shares of the company’s stock worth $1,087,000 after purchasing an additional 2,418 shares in the last quarter. Private Advisor Group LLC lifted its position in shares of Molson Coors Beverage by 0.9% in the third quarter. Private Advisor Group LLC now owns 32,080 shares of the company’s stock worth $1,845,000 after buying an additional 277 shares during the last quarter. International Assets Investment Management LLC boosted its stake in shares of Molson Coors Beverage by 1,711.8% during the 3rd quarter. International Assets Investment Management LLC now owns 54,880 shares of the company’s stock worth $3,157,000 after acquiring an additional 51,851 shares in the last quarter. Assenagon Asset Management S.A. increased its holdings in shares of Molson Coors Beverage by 12.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 56,316 shares of the company’s stock valued at $3,239,000 after acquiring an additional 6,113 shares during the last quarter. Finally, Allworth Financial LP raised its stake in shares of Molson Coors Beverage by 33.7% in the 3rd quarter. Allworth Financial LP now owns 1,179 shares of the company’s stock valued at $68,000 after acquiring an additional 297 shares in the last quarter. 78.46% of the stock is owned by institutional investors.

Molson Coors Beverage Stock Performance

Molson Coors Beverage stock opened at $59.42 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18. The company has a fifty day moving average price of $56.72 and a two-hundred day moving average price of $57.05. The company has a market cap of $12.04 billion, a PE ratio of 11.11, a P/E/G ratio of 1.52 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.17 by $0.13. The business had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. Research 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 disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.16%. The ex-dividend date of this dividend is Thursday, February 27th. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 35.14%.

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.