Molson Coors Beverage (NYSE:TAP) Receives $63.27 Consensus Price Target from Analysts

Molson Coors Beverage (NYSE:TAP - Get Free Report) has received an average rating of "Hold" from the fifteen research firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $63.27.

A number of equities research analysts have recently issued reports on the company. Hsbc Global Res cut Molson Coors Beverage from a "hold" rating to a "moderate sell" rating in a research note on Friday, November 8th. Needham & Company LLC reissued a "buy" rating and issued a $72.00 price objective on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. Citigroup raised shares of 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 report on Wednesday, February 5th. Morgan Stanley lifted their price target on Molson Coors Beverage from $60.00 to $63.00 and gave the stock an "equal weight" rating in a report on Friday, February 14th. Finally, UBS Group upped their price objective on Molson Coors Beverage from $58.00 to $63.00 and gave the company a "neutral" rating in a research note on Friday, February 14th.

Molson Coors Beverage Stock Down 0.1 %

Shares of NYSE:TAP traded down $0.08 during midday trading on Friday, reaching $61.21. 1,072,812 shares of the company were exchanged, compared to its average volume of 1,903,453. The firm has a market cap of $12.40 billion, a PE ratio of 11.42, a P/E/G ratio of 1.52 and a beta of 0.85. The stock has a fifty day simple moving average of $56.64 and a two-hundred day simple moving average of $56.94. 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 quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, topping 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 business had revenue of $2.74 billion during the quarter, compared to analysts' expectations of $2.71 billion. As a group, sell-side 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 will be paid on Friday, March 14th. Shareholders of record on Thursday, February 27th will be paid a $0.47 dividend. This is a boost from Molson Coors Beverage's previous quarterly dividend of $0.44. The ex-dividend date is Thursday, February 27th. This represents a $1.88 annualized dividend and a yield of 3.07%. Molson Coors Beverage's payout ratio is 35.14%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in TAP. State Street Corp boosted its stake in shares of Molson Coors Beverage by 8.4% in the third quarter. State Street Corp now owns 8,792,196 shares of the company's stock valued at $505,727,000 after buying an additional 681,757 shares during the period. Geode Capital Management LLC lifted its position in shares of Molson Coors Beverage by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 4,291,048 shares of the company's stock valued at $245,308,000 after acquiring an additional 54,867 shares during the period. Invesco Ltd. grew its holdings in shares of Molson Coors Beverage by 4.2% during the 4th quarter. Invesco Ltd. now owns 3,789,258 shares of the company's stock worth $217,200,000 after purchasing an additional 152,622 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Molson Coors Beverage by 12.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,753,491 shares of the company's stock worth $215,146,000 after purchasing an additional 422,515 shares during the period. Finally, Bank of New York Mellon Corp lifted its position in Molson Coors Beverage by 14.0% during the fourth quarter. Bank of New York Mellon Corp now owns 3,535,604 shares of the company's stock worth $202,661,000 after purchasing an additional 434,250 shares during the period. Institutional investors and hedge funds own 78.46% of the company's stock.

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.