Barclays Issues Pessimistic Forecast for Molson Coors Beverage (NYSE:TAP) Stock Price

Molson Coors Beverage (NYSE:TAP - Free Report) had its price target reduced by Barclays from $51.00 to $48.00 in a research report released on Friday,Benzinga reports. They currently have an underweight rating on the stock.

A number of other brokerages also recently weighed in on TAP. Wells Fargo & Company raised shares of Molson Coors Beverage from an "underweight" rating to an "overweight" rating and boosted their price target for the stock from $52.00 to $74.00 in a report on Friday, November 8th. JPMorgan Chase & Co. increased their price objective on Molson Coors Beverage from $57.00 to $60.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. Needham & Company LLC started coverage on Molson Coors Beverage in a research note on Friday, December 6th. They issued a "buy" rating and a $72.00 price target for the company. StockNews.com upgraded Molson Coors Beverage from a "hold" rating to a "buy" rating in a report on Monday, January 13th. Finally, Hsbc Global Res downgraded Molson Coors Beverage from a "hold" rating to a "moderate sell" rating in a report on Friday, November 8th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $61.79.

Molson Coors Beverage Trading Up 0.6 %

Shares of NYSE:TAP traded up $0.35 during mid-day trading on Friday, hitting $55.33. The company had a trading volume of 1,944,811 shares, compared to its average volume of 1,421,203. The firm has a fifty day moving average price of $59.10 and a 200 day moving average price of $55.89. The company has a market capitalization of $11.40 billion, a PE ratio of 12.46, a price-to-earnings-growth ratio of 1.96 and a beta of 0.86. 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 has a one year low of $49.19 and a one year high of $69.18.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings data on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.13. The company had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. Molson Coors Beverage's revenue for the quarter was down 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.92 EPS. As a group, research analysts forecast that Molson Coors Beverage will post 5.79 EPS for the current year.

Molson Coors Beverage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date was Friday, December 6th. Molson Coors Beverage's payout ratio is currently 39.64%.

Institutional Trading of Molson Coors Beverage

A number of institutional investors and hedge funds have recently made changes to their positions in TAP. Clark Estates Inc. NY raised its stake in Molson Coors Beverage by 18.1% during the third quarter. Clark Estates Inc. NY now owns 60,000 shares of the company's stock worth $3,451,000 after acquiring an additional 9,200 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of Molson Coors Beverage by 1.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company's stock valued at $2,046,000 after acquiring an additional 563 shares during the period. Qsemble Capital Management LP boosted its holdings in 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 buying an additional 9,234 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Molson Coors Beverage by 4.7% during the third quarter. Principal Financial Group Inc. now owns 211,812 shares of the company's stock worth $12,183,000 after buying an additional 9,510 shares in the last quarter. Finally, 1832 Asset Management L.P. acquired a new stake in Molson Coors Beverage during the 2nd quarter valued at $1,237,000. 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.