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

Shares of Molson Coors Beverage (NYSE:TAP) have been assigned an average rating of “Hold” from the fifteen research firms that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $65.07.

TAP has been the subject of a number of research analyst reports. JPMorgan Chase & Co. decreased their price objective on shares of Molson Coors Beverage from $66.00 to $60.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. UBS Group decreased their price objective on shares of Molson Coors Beverage from $70.00 to $64.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. Barclays decreased their price objective on shares of Molson Coors Beverage from $62.00 to $55.00 and set an “equal weight” rating for the company in a report on Wednesday, May 29th. Evercore ISI cut their target price on shares of Molson Coors Beverage from $70.00 to $68.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 1st. Finally, Bank of America cut their target price on shares of Molson Coors Beverage from $72.00 to $62.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st.

Molson Coors Beverage Price Performance

Molson Coors Beverage stock opened at $50.83 on Friday. The firm has a 50-day moving average price of $55.09 and a 200-day moving average price of $60.65. The firm has a market capitalization of $10.77 billion, a PE ratio of 10.17, a price-to-earnings-growth ratio of 1.83 and a beta of 0.81. The company has a current ratio of 0.69, a quick ratio of 0.47 and a debt-to-equity ratio of 0.40. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $70.90.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.95 earnings per share for the quarter, beating analysts’ consensus estimates of $0.74 by $0.21. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. The company had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the business posted $0.54 EPS. The firm’s revenue for the quarter was up 10.7% on a year-over-year basis. As a group, equities research analysts forecast that Molson Coors Beverage will post 5.68 EPS for the current year.

Molson Coors Beverage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.46%. The ex-dividend date of this dividend was Friday, June 7th. Molson Coors Beverage’s dividend payout ratio is presently 35.20%.

Institutional Trading of Molson Coors Beverage

Large investors have recently bought and sold shares of the stock. Tennessee Valley Asset Management Partners purchased a new stake in Molson Coors Beverage during the 4th quarter worth approximately $29,000. Stone House Investment Management LLC purchased a new stake in Molson Coors Beverage during the 3rd quarter worth approximately $32,000. Montag A & Associates Inc. purchased a new stake in Molson Coors Beverage during the 4th quarter worth approximately $31,000. Raleigh Capital Management Inc. grew its position in Molson Coors Beverage by 2,087.5% during the 4th quarter. Raleigh Capital Management Inc. now owns 525 shares of the company’s stock worth $32,000 after purchasing an additional 501 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its position in Molson Coors Beverage by 46.6% during the 1st quarter. Venturi Wealth Management LLC now owns 585 shares of the company’s stock worth $39,000 after purchasing an additional 186 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

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.