Molson Coors Beverage (NYSE:TAP) Given New $61.00 Price Target at Barclays

Molson Coors Beverage (NYSE:TAP) had its price objective reduced by Barclays from $62.00 to $61.00 in a research note issued to investors on Thursday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities analysts have also weighed in on TAP. StockNews.com lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. JPMorgan Chase & Co. lowered their target price on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Morgan Stanley increased their price target 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. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Molson Coors Beverage in a report on Wednesday, February 12th. Finally, Bank of America raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their target price for the stock from $57.00 to $70.00 in a research note on Friday, December 6th. Eleven research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $63.60.

Molson Coors Beverage Trading Up 0.7 %

NYSE TAP opened at $60.98 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. The firm has a market cap of $12.35 billion, a PE ratio of 11.40, a P/E/G ratio of 1.52 and a beta of 0.81. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18. The firm’s fifty day moving average is $58.00 and its two-hundred day moving average is $57.64.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Thursday, February 13th. The company reported $1.30 EPS 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 firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.71 billion. Analysts expect that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.08%. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date was Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio is presently 35.14%.

Institutional Trading of Molson Coors Beverage

Several institutional investors and hedge funds have recently modified their holdings of TAP. Wealth Enhancement Advisory Services LLC raised its position 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 worth $2,046,000 after purchasing an additional 563 shares during the last quarter. US Bancorp DE boosted its stake in shares of Molson Coors Beverage by 103.9% during the fourth quarter. US Bancorp DE now owns 19,285 shares of the company’s stock valued at $1,106,000 after acquiring an additional 9,825 shares during the last quarter. Unified Investment Management purchased a new stake in Molson Coors Beverage during the 4th quarter worth about $871,000. Wilsey Asset Management Inc. raised its stake in Molson Coors Beverage by 1.6% in the 4th quarter. Wilsey Asset Management Inc. now owns 550,539 shares of the company’s stock valued at $31,557,000 after purchasing an additional 8,679 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in Molson Coors Beverage by 4.7% in the 3rd quarter. Principal Financial Group Inc. now owns 211,812 shares of the company’s stock valued at $12,183,000 after purchasing an additional 9,510 shares in the last quarter. 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.