Molson Coors Beverage (NYSE:TAP) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Molson Coors Beverage (NYSE:TAP) from a hold rating to a buy rating in a research report released on Monday morning.

Other equities analysts have also issued research reports about the stock. Bank of America upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and upped their target price for the stock from $57.00 to $70.00 in a research report on Friday, December 6th. Wells Fargo & Company raised 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 report on Friday, November 8th. Needham & Company LLC began coverage on Molson Coors Beverage in a research note on Friday, December 6th. They set a “buy” rating and a $72.00 price target for the company. Hsbc Global Res cut Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. Finally, BNP Paribas assumed coverage on Molson Coors Beverage in a report on Monday, November 25th. They set a “neutral” rating and a $64.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $62.00.

Molson Coors Beverage Stock Performance

NYSE:TAP opened at $53.82 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99. The stock has a 50-day simple moving average of $59.33 and a two-hundred day simple moving average of $55.82. The firm has a market capitalization of $11.09 billion, a PE ratio of 12.12, a P/E/G ratio of 2.38 and a beta of 0.86. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.13. The company had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The firm’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.92 EPS. Analysts forecast that Molson Coors Beverage will post 5.78 EPS for the current year.

Molson Coors Beverage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date of this dividend was Friday, December 6th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 39.64%.

Institutional Trading of Molson Coors Beverage

Large investors have recently added to or reduced their stakes in the company. Pallas Capital Advisors LLC lifted its stake 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 valued at $975,000 after acquiring an additional 199 shares during the period. Czech National Bank boosted its holdings in Molson Coors Beverage by 5.8% in the fourth quarter. Czech National Bank now owns 37,873 shares of the company’s stock valued at $2,171,000 after purchasing an additional 2,083 shares during the last quarter. Sage Capital Advisors llc grew its position in Molson Coors Beverage by 0.8% during the 4th quarter. Sage Capital Advisors llc now owns 150,077 shares of the company’s stock worth $8,602,000 after purchasing an additional 1,129 shares during the period. Wealth Enhancement Advisory Services LLC raised its stake in shares of Molson Coors Beverage by 1.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company’s stock valued at $2,046,000 after buying an additional 563 shares during the last quarter. Finally, First Hawaiian Bank lifted its holdings in shares of Molson Coors Beverage by 2.0% in the 4th quarter. First Hawaiian Bank now owns 20,195 shares of the company’s stock valued at $1,158,000 after buying an additional 394 shares during the period. 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.