StockNews.com Downgrades Molson Coors Beverage (NYSE:TAP) to Hold

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

Other analysts also recently issued reports about the company. Needham & Company LLC initiated coverage on Molson Coors Beverage in a research note on Friday, December 6th. They issued a "buy" rating and a $72.00 target price for the company. Wells Fargo & Company upgraded shares of Molson Coors Beverage from an "underweight" rating to an "overweight" rating and raised their price target for the stock from $52.00 to $74.00 in a report on Friday, November 8th. BNP Paribas assumed coverage on Molson Coors Beverage in a research report on Monday, November 25th. They issued a "neutral" rating and a $64.00 price objective for the company. Bank of America raised Molson Coors Beverage from a "neutral" rating to a "buy" rating and raised their target price for the stock from $57.00 to $70.00 in a research note on Friday, December 6th. Finally, JPMorgan Chase & Co. decreased their price target 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. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $62.36.

Molson Coors Beverage Price Performance

Shares of NYSE TAP traded up $0.36 during mid-day trading on Friday, reaching $53.31. The company's stock had a trading volume of 1,291,194 shares, compared to its average volume of 1,644,265. The stock has a market capitalization of $10.98 billion, a P/E ratio of 12.01, a P/E/G ratio of 2.52 and a beta of 0.85. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The stock has a 50-day moving average of $57.35 and a two-hundred day moving average of $56.23. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its earnings results on Thursday, November 7th. The company reported $1.80 earnings per share 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 business had revenue of $3.04 billion for the quarter, compared to analysts' expectations of $3.13 billion. During the same period in the previous year, the firm posted $1.92 EPS. The business's revenue for the quarter was down 7.8% compared to the same quarter last year. On average, equities research analysts anticipate that Molson Coors Beverage will post 5.79 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a $0.44 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.76 annualized dividend and a dividend yield of 3.30%. Molson Coors Beverage's dividend payout ratio (DPR) is 39.64%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of TAP. Ashton Thomas Securities LLC acquired a new stake in Molson Coors Beverage in the 3rd quarter valued at about $35,000. Gladius Capital Management LP acquired a new stake in Molson Coors Beverage in the third quarter valued at approximately $42,000. Catalyst Capital Advisors LLC lifted its stake in Molson Coors Beverage by 143.6% in the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company's stock worth $42,000 after acquiring an additional 428 shares during the last quarter. SRS Capital Advisors Inc. lifted its stake in Molson Coors Beverage by 38.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock worth $42,000 after acquiring an additional 203 shares during the last quarter. Finally, Private Trust Co. NA grew its holdings in Molson Coors Beverage by 53.1% during the 4th quarter. Private Trust Co. NA now owns 796 shares of the company's stock worth $46,000 after acquiring an additional 276 shares in the last quarter. 78.46% of the stock is currently 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.