Molson Coors Beverage (NYSE:TAP) Receives Consensus Rating of "Hold" from Brokerages

Shares of Molson Coors Beverage (NYSE:TAP - Get Free Report) have been assigned an average rating of "Hold" from the fifteen analysts that are covering the stock, Marketbeat.com reports. Ten investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $63.67.

Several analysts have recently weighed in on TAP shares. Barclays raised shares of Molson Coors Beverage from an "underweight" rating to an "equal weight" rating and increased their price target for the company from $56.00 to $62.00 in a research note on Thursday, March 13th. StockNews.com lowered Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Friday, February 21st. Bank of America upgraded Molson Coors Beverage from a "neutral" rating to a "buy" rating and lifted their target price for the company from $57.00 to $70.00 in a research report on Friday, December 6th. Citigroup upgraded Molson Coors Beverage from a "sell" rating to a "neutral" rating and increased their price target for the stock from $47.00 to $57.00 in a report on Wednesday, February 5th. Finally, JPMorgan Chase & Co. reduced their price objective 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.

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Molson Coors Beverage Trading Down 1.0 %

NYSE TAP traded down $0.58 on Tuesday, reaching $58.69. 1,295,267 shares of the company were exchanged, compared to its average volume of 1,955,421. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46. The business's fifty day moving average price is $57.67 and its 200 day moving average price is $57.57. The stock has a market capitalization of $11.89 billion, a P/E ratio of 10.97, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its quarterly 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 net margin of 8.17% and a return on equity of 9.34%. The firm had revenue of $2.74 billion for the quarter, compared to analysts' expectations of $2.71 billion. Analysts forecast 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 issued a $0.47 dividend. The ex-dividend date was Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.20%. This is a boost from Molson Coors Beverage's previous quarterly dividend of $0.44. Molson Coors Beverage's payout ratio is 35.14%.

Institutional Investors Weigh In On Molson Coors Beverage

Hedge funds have recently added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Molson Coors Beverage in the fourth quarter worth $142,407,000. Fairfax Financial Holdings Ltd. Can purchased a new position in Molson Coors Beverage in the fourth quarter valued at $68,010,000. State Street Corp grew its stake in Molson Coors Beverage by 8.4% during the 3rd quarter. State Street Corp now owns 8,792,196 shares of the company's stock worth $505,727,000 after purchasing an additional 681,757 shares in the last quarter. Estuary Capital Management LP purchased a new stake in Molson Coors Beverage during the 4th quarter worth about $39,052,000. Finally, Freestone Grove Partners LP acquired a new stake in Molson Coors Beverage in the 4th quarter valued at about $29,913,000. 78.46% of the stock is currently owned by institutional investors and hedge funds.

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.