Molson Coors Beverage (NYSE:TAP) Given Consensus Recommendation of "Hold" by Analysts

Molson Coors Beverage (NYSE:TAP - Get Free Report) has earned a consensus recommendation of "Hold" from the fourteen analysts that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $62.00.

TAP has been the subject of several recent research reports. Barclays raised their price target on shares of Molson Coors Beverage from $49.00 to $51.00 and gave the company an "underweight" rating in a research report on Monday, November 11th. TD Cowen reduced their price objective on Molson Coors Beverage from $58.00 to $56.00 and set a "hold" rating for the company in a research note on Tuesday, October 8th. Hsbc Global Res cut shares of Molson Coors Beverage from a "hold" rating to a "moderate sell" rating in a research note on Friday, November 8th. StockNews.com downgraded shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Wednesday, January 1st. Finally, Needham & Company LLC started coverage on Molson Coors Beverage in a report on Friday, December 6th. They issued a "buy" rating and a $72.00 price objective on the stock.

Molson Coors Beverage Stock Performance

NYSE:TAP traded up $0.43 during midday trading on Thursday, hitting $55.62. The company's stock had a trading volume of 1,505,318 shares, compared to its average volume of 1,777,164. The firm has a market cap of $11.46 billion, a P/E ratio of 12.53, a P/E/G ratio of 2.38 and a beta of 0.86. The firm's 50 day moving average is $59.38 and its 200-day moving average is $55.75. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.74.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its quarterly earnings results on Thursday, November 7th. The company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.67 by $0.13. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The firm had revenue of $3.04 billion during the quarter, compared to analysts' expectations of $3.13 billion. During the same period in the previous year, the business earned $1.92 earnings per share. The firm's revenue for the quarter was down 7.8% on a year-over-year basis. Equities analysts anticipate that Molson Coors Beverage will post 5.78 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.16%. The ex-dividend date was Friday, December 6th. Molson Coors Beverage's dividend payout ratio is presently 39.64%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in TAP. Clark Estates Inc. NY grew its position in Molson Coors Beverage by 18.1% in the third quarter. Clark Estates Inc. NY now owns 60,000 shares of the company's stock valued at $3,451,000 after acquiring an additional 9,200 shares in the last quarter. Qsemble Capital Management LP increased its position in shares of Molson Coors Beverage by 23.5% during the third quarter. Qsemble Capital Management LP now owns 48,474 shares of the company's stock worth $2,788,000 after acquiring an additional 9,234 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Molson Coors Beverage by 4.7% in 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 in the last quarter. Quest Partners LLC boosted its holdings in Molson Coors Beverage by 252,400.0% in the second quarter. Quest Partners LLC now owns 17,675 shares of the company's stock valued at $898,000 after purchasing an additional 17,668 shares during the last quarter. Finally, 1832 Asset Management L.P. purchased a new stake in Molson Coors Beverage during the 2nd quarter worth approximately $1,237,000. 78.46% of the stock is owned by hedge funds and other institutional investors.

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.