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

Shares of Molson Coors Beverage (NYSE:TAP) have been assigned a consensus recommendation of “Hold” from the fourteen research firms that are presently covering the firm, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $61.64.

Several analysts recently commented on the stock. Wells Fargo & Company raised shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and increased their price objective for the company from $52.00 to $74.00 in a research report on Friday, November 8th. TD Cowen lowered their price objective on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a research note on Tuesday, October 8th. Needham & Company LLC started coverage on shares of Molson Coors Beverage in a research note on Friday, December 6th. They issued a “buy” rating and a $72.00 price objective on the stock. Barclays reduced their target price on shares of Molson Coors Beverage from $51.00 to $48.00 and set an “underweight” rating for the company in a report on Friday, January 17th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday.

Institutional Trading of Molson Coors Beverage

A number of institutional investors have recently bought and sold shares of the stock. Clark Estates Inc. NY lifted its position in shares of Molson Coors Beverage by 18.1% during the third quarter. Clark Estates Inc. NY now owns 60,000 shares of the company’s stock worth $3,451,000 after purchasing an additional 9,200 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its stake in Molson Coors Beverage by 1.6% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company’s stock valued at $2,046,000 after purchasing an additional 563 shares during the last quarter. Qsemble Capital Management LP grew its stake in Molson Coors Beverage by 23.5% in the third quarter. Qsemble Capital Management LP now owns 48,474 shares of the company’s stock valued at $2,788,000 after purchasing an additional 9,234 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of Molson Coors Beverage by 4.7% during the third quarter. Principal Financial Group Inc. now owns 211,812 shares of the company’s stock worth $12,183,000 after acquiring an additional 9,510 shares during the last quarter. Finally, FMR LLC grew its stake in shares of Molson Coors Beverage by 23.2% during the third quarter. FMR LLC now owns 716,311 shares of the company’s stock worth $41,202,000 after acquiring an additional 134,689 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Stock Down 0.9 %

Shares of Molson Coors Beverage stock opened at $54.76 on Monday. The company’s fifty day simple moving average is $57.82 and its two-hundred day simple moving average is $56.25. The company has a market cap of $11.28 billion, a P/E ratio of 12.33, a PEG ratio of 2.09 and a beta of 0.86. 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 12-month low of $49.19 and a 12-month 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 for the quarter, topping analysts’ consensus estimates of $1.67 by $0.13. The firm had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The company’s revenue was down 7.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.92 EPS. Research analysts anticipate that Molson Coors Beverage will post 5.79 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were given a $0.44 dividend. The ex-dividend date was Friday, December 6th. This represents a $1.76 dividend on an annualized basis and a yield of 3.21%. Molson Coors Beverage’s dividend payout ratio is presently 39.64%.

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.