Molson Coors Beverage (NYSE:TAP) Lowered to Hold Rating by StockNews.com

StockNews.com downgraded shares of Molson Coors Beverage (NYSE:TAP) from a buy rating to a hold rating in a report issued on Sunday morning.

Several other analysts also recently issued reports on the company. BNP Paribas started coverage on Molson Coors Beverage in a research report on Monday, November 25th. They issued a “neutral” rating and a $64.00 price objective on the stock. Barclays decreased their price target on shares of Molson Coors Beverage from $51.00 to $48.00 and set an “underweight” rating on the stock in a research note on Friday, January 17th. JPMorgan Chase & Co. cut their price objective on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. Wells Fargo & Company raised shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and lifted their target price for the stock from $52.00 to $74.00 in a research note on Friday, November 8th. Finally, Needham & Company LLC started coverage on Molson Coors Beverage in a research note on Friday, December 6th. They set a “buy” rating and a $72.00 price target on the stock. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $61.64.

Molson Coors Beverage Price Performance

Shares of NYSE TAP opened at $52.93 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. The company’s 50-day moving average price is $57.51 and its 200 day moving average price is $56.25. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The stock has a market cap of $10.90 billion, a price-to-earnings ratio of 11.92, a PEG ratio of 2.52 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.13. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The business had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same period last year, the company posted $1.92 EPS. The company’s revenue was down 7.8% on a year-over-year basis. As a group, research analysts forecast that Molson Coors Beverage will post 5.79 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.33%. The ex-dividend date was Friday, December 6th. Molson Coors Beverage’s dividend payout ratio is currently 39.64%.

Institutional Trading of Molson Coors Beverage

A number of institutional investors and hedge funds have recently bought and sold shares of TAP. Farther Finance Advisors LLC lifted its position in Molson Coors Beverage by 11.8% during the third quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company’s stock valued at $99,000 after buying an additional 182 shares in the last quarter. Integrated Investment Consultants LLC raised its stake in shares of Molson Coors Beverage by 4.7% in the 3rd quarter. Integrated Investment Consultants LLC now owns 4,154 shares of the company’s stock valued at $239,000 after acquiring an additional 185 shares during the period. Perpetual Ltd lifted its holdings in shares of Molson Coors Beverage by 1.0% during the 3rd quarter. Perpetual Ltd now owns 20,543 shares of the company’s stock valued at $1,182,000 after acquiring an additional 197 shares in the last quarter. Pallas Capital Advisors LLC boosted its position in Molson Coors Beverage by 1.2% during the 4th quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company’s stock worth $975,000 after purchasing an additional 199 shares during the period. Finally, Venturi Wealth Management LLC increased its holdings in Molson Coors Beverage by 7.4% in the 4th quarter. Venturi Wealth Management LLC now owns 2,935 shares of the company’s stock valued at $168,000 after purchasing an additional 202 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

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.