Molson Coors Beverage (NYSE:TAP) Price Target Raised to $63.00 at Morgan Stanley

Molson Coors Beverage (NYSE:TAP) had its price objective lifted by Morgan Stanley from $60.00 to $63.00 in a report released on Friday,Benzinga reports. They currently have an equal weight rating on the stock.

Several other research analysts have also weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 price target on shares of Molson Coors Beverage in a research report on Wednesday. Citigroup raised shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and upped their price target for the stock from $47.00 to $57.00 in a research report on Wednesday, February 5th. UBS Group decreased their price objective on shares of Molson Coors Beverage from $60.00 to $58.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. StockNews.com upgraded shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Bank of America upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and raised their target price for the company from $57.00 to $70.00 in a research note on Friday, December 6th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $62.73.

Molson Coors Beverage Stock Up 3.0 %

Shares of TAP stock opened at $60.33 on Friday. The firm’s fifty day moving average price is $56.50 and its two-hundred day moving average price is $56.31. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The firm has a market capitalization of $12.43 billion, a P/E ratio of 13.59, a PEG ratio of 2.07 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.13. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. On average, equities analysts predict that Molson Coors Beverage will post 5.79 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, February 27th will be issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.12%. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio is currently 39.64%.

Institutional Investors Weigh In On Molson Coors Beverage

Institutional investors have recently modified their holdings of the business. Ritholtz Wealth Management acquired a new stake in Molson Coors Beverage in the 3rd quarter worth about $223,000. Creative Planning raised its position in shares of Molson Coors Beverage by 14.7% in the third quarter. Creative Planning now owns 18,890 shares of the company’s stock valued at $1,087,000 after buying an additional 2,418 shares in the last quarter. Vontobel Holding Ltd. raised its position in shares of Molson Coors Beverage by 16.1% in the third quarter. Vontobel Holding Ltd. now owns 124,768 shares of the company’s stock valued at $7,177,000 after buying an additional 17,285 shares in the last quarter. Randolph Co Inc bought a new stake in shares of Molson Coors Beverage in the third quarter valued at approximately $21,754,000. Finally, V Square Quantitative Management LLC grew its position in Molson Coors Beverage by 7.5% during the third quarter. V Square Quantitative Management LLC now owns 5,344 shares of the company’s stock worth $307,000 after buying an additional 371 shares in the last quarter. Institutional investors 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.