Berenberg Bank started coverage on shares of Molson Coors Beverage (NYSE:TAP - Free Report) in a report issued on Wednesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $86.90 price objective on the stock.
TAP has been the topic of several other research reports. Needham & Company LLC reissued a "buy" rating and set a $72.00 target price on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. Citigroup raised Molson Coors Beverage from a "sell" rating to a "neutral" rating and upped their target price for the company from $47.00 to $57.00 in a research report on Wednesday, February 5th. Bank of America upgraded 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. StockNews.com lowered Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Friday, February 21st. Finally, UBS Group lifted their target price on Molson Coors Beverage from $58.00 to $63.00 and gave the stock a "neutral" rating in a report on Friday, February 14th. Eleven analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $65.06.
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Molson Coors Beverage Stock Down 2.0 %
NYSE TAP traded down $1.28 on Wednesday, hitting $61.19. The stock had a trading volume of 3,780,107 shares, compared to its average volume of 2,051,267. The business's fifty day moving average price is $58.76 and its 200 day moving average price is $57.91. The stock has a market cap of $12.40 billion, a price-to-earnings ratio of 11.44, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18.
Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.17 by $0.13. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.71 billion. Equities research analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current year.
Molson Coors Beverage Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.07%. The ex-dividend date of this dividend was Thursday, February 27th. This is a positive change from Molson Coors Beverage's previous quarterly dividend of $0.44. Molson Coors Beverage's payout ratio is presently 35.14%.
Institutional Trading of Molson Coors Beverage
Several institutional investors have recently modified their holdings of the stock. Norges Bank purchased a new position in shares of Molson Coors Beverage in the fourth quarter valued at approximately $142,407,000. Fairfax Financial Holdings Ltd. Can acquired a new stake in Molson Coors Beverage during the 4th quarter worth $68,010,000. State Street Corp grew its holdings in shares of Molson Coors Beverage by 8.4% during the third quarter. State Street Corp now owns 8,792,196 shares of the company's stock worth $505,727,000 after buying an additional 681,757 shares in the last quarter. Estuary Capital Management LP acquired a new stake in shares of Molson Coors Beverage in the fourth quarter valued at about $39,052,000. Finally, Freestone Grove Partners LP purchased a new position in shares of Molson Coors Beverage in the fourth quarter worth about $29,913,000. Institutional investors and hedge funds own 78.46% of the company's stock.
About Molson Coors Beverage
(
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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.
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