Molson Coors Beverage (NYSE:TAP) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Molson Coors Beverage (NYSE:TAP) have been assigned a consensus recommendation of “Hold” from the fifteen ratings firms that are presently covering the company, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $65.07.

Several analysts recently issued reports on TAP shares. 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. JPMorgan Chase & Co. decreased their price target 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. StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Evercore ISI cut their price objective on Molson Coors Beverage from $70.00 to $68.00 and set an “outperform” rating for the company in a research report on Wednesday, May 1st. Finally, Citigroup lowered their target price on Molson Coors Beverage from $56.00 to $53.00 and set a “sell” rating on the stock in a report on Wednesday, May 1st.

Molson Coors Beverage Price Performance

Shares of NYSE:TAP opened at $50.95 on Friday. The stock has a market capitalization of $10.79 billion, a P/E ratio of 10.19, a P/E/G ratio of 1.83 and a beta of 0.81. The business has a 50-day moving average of $56.39 and a two-hundred day moving average of $61.06. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $70.90. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.69 and a quick ratio of 0.47.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Tuesday, April 30th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.21. Molson Coors Beverage had a return on equity of 9.47% and a net margin of 7.66%. The firm had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same period in the previous year, the company earned $0.54 EPS. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities research analysts predict that Molson Coors Beverage will post 5.68 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were paid a $0.44 dividend. The ex-dividend date of this dividend was Friday, June 7th. This represents a $1.76 annualized dividend and a dividend yield of 3.45%. Molson Coors Beverage’s dividend payout ratio is presently 35.20%.

Institutional Trading of Molson Coors Beverage

Several large investors have recently added to or reduced their stakes in the company. Czech National Bank increased its stake in shares of Molson Coors Beverage by 0.5% in the first quarter. Czech National Bank now owns 32,580 shares of the company’s stock valued at $2,191,000 after buying an additional 149 shares in the last quarter. Kestra Private Wealth Services LLC raised its stake in shares of Molson Coors Beverage by 1.5% in the fourth quarter. Kestra Private Wealth Services LLC now owns 11,589 shares of the company’s stock worth $709,000 after acquiring an additional 174 shares during the last quarter. IMPACTfolio LLC raised its stake in shares of Molson Coors Beverage by 4.6% in the fourth quarter. IMPACTfolio LLC now owns 4,027 shares of the company’s stock worth $246,000 after acquiring an additional 176 shares during the last quarter. Venturi Wealth Management LLC lifted its position in shares of Molson Coors Beverage by 46.6% during the first quarter. Venturi Wealth Management LLC now owns 585 shares of the company’s stock worth $39,000 after purchasing an additional 186 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC grew its stake in shares of Molson Coors Beverage by 1.8% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 11,607 shares of the company’s stock valued at $710,000 after purchasing an additional 200 shares during the last quarter. 78.46% of the stock is owned by institutional investors.

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.