Molson Coors Beverage (NYSE:TAP) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Molson Coors Beverage (NYSE:TAP - Free Report) from a buy rating to a hold rating in a report published on Friday morning.

A number of other equities analysts have also weighed in on the company. JPMorgan Chase & Co. decreased their target price on Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating on the stock in a research note on Thursday, January 30th. UBS Group upped their price objective on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Citigroup upgraded shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and lifted their target price for the company from $47.00 to $57.00 in a research report on Wednesday, February 5th. Hsbc Global Res lowered shares of Molson Coors Beverage from a "hold" rating to a "moderate sell" rating in a report on Friday, November 8th. Finally, Morgan Stanley lifted their price objective 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. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $63.27.

Molson Coors Beverage Price Performance

NYSE:TAP traded up $0.84 during mid-day trading on Friday, hitting $61.17. 2,345,930 shares of the stock traded hands, compared to its average volume of 2,023,855. The business's 50-day moving average price is $56.44 and its 200 day moving average price is $56.69. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The company has a market cap of $12.60 billion, a PE ratio of 11.43, a price-to-earnings-growth ratio of 1.52 and a beta of 0.85. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, beating analysts' consensus estimates of $1.17 by $0.13. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.71 billion. On average, analysts expect that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be issued a dividend of $0.47 per share. The ex-dividend date of this dividend is Thursday, February 27th. This is a boost from Molson Coors Beverage's previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a yield of 3.07%. Molson Coors Beverage's dividend payout ratio is currently 35.14%.

Hedge Funds Weigh In On Molson Coors Beverage

A number of large investors have recently bought and sold shares of TAP. Truvestments Capital LLC boosted its stake 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 valued at $34,000 after purchasing an additional 202 shares during the period. Ashton Thomas Securities LLC purchased a new stake in Molson Coors Beverage during the 3rd quarter valued at $35,000. CoreCap Advisors LLC grew its holdings 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 acquiring an additional 643 shares during the last quarter. Quarry LP increased its position in shares of Molson Coors Beverage by 55.1% in the fourth quarter. Quarry LP now owns 715 shares of the company's stock valued at $41,000 after acquiring an additional 254 shares during the period. Finally, Gladius Capital Management LP purchased a new position in shares of Molson Coors Beverage in the third quarter valued at about $42,000. 78.46% of the stock is owned by hedge funds and other 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.