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

Molson Coors Beverage (NYSE:TAP) has been assigned a consensus rating of “Hold” from the fifteen analysts that are presently covering the stock, Marketbeat reports. Ten investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have updated their coverage on the stock in the last year is $63.67.

A number of research firms recently commented on TAP. Morgan Stanley boosted their target price on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. UBS Group increased their price objective on Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Citigroup raised Molson Coors Beverage from a “sell” rating to a “neutral” rating and raised their price objective for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. Barclays raised Molson Coors Beverage from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $56.00 to $62.00 in a report on Thursday, March 13th. Finally, Bank of America upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their price target for the company from $57.00 to $70.00 in a research report on Friday, December 6th.

Institutional Investors Weigh In On Molson Coors Beverage

A number of institutional investors have recently modified their holdings of the stock. Truvestments Capital LLC raised its holdings in shares of Molson Coors Beverage by 51.4% during the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock worth $34,000 after acquiring an additional 202 shares in the last quarter. CoreCap Advisors LLC increased its position in Molson Coors Beverage by 10,716.7% in the 4th quarter. CoreCap Advisors LLC now owns 649 shares of the company’s stock worth $37,000 after purchasing an additional 643 shares during the last quarter. Quarry LP raised its stake in shares of Molson Coors Beverage by 55.1% during the 4th quarter. Quarry LP now owns 715 shares of the company’s stock worth $41,000 after purchasing an additional 254 shares in the last quarter. Catalyst Capital Advisors LLC lifted its holdings in shares of Molson Coors Beverage by 143.6% during the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock valued at $42,000 after buying an additional 428 shares during the last quarter. Finally, SRS Capital Advisors Inc. grew its stake in shares of Molson Coors Beverage by 38.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock valued at $42,000 after buying an additional 203 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Stock Performance

Shares of NYSE TAP opened at $59.36 on Tuesday. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The firm has a market cap of $12.03 billion, a P/E ratio of 11.10, a PEG ratio of 1.52 and a beta of 0.81. The stock has a fifty day moving average price of $57.67 and a two-hundred day moving average price of $57.57. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results 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 9.34% and a net margin of 8.17%. The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Research analysts forecast that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.17%. The ex-dividend date was Thursday, February 27th. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s dividend payout ratio is currently 35.14%.

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.