Molson Coors Beverage (NYSE:TAP) Receives $64.39 Average Target Price from Analysts

Shares of Molson Coors Beverage (NYSE:TAP - Get Free Report) have been given a consensus rating of "Hold" by the fifteen research firms that are presently covering the stock, Marketbeat reports. Ten equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $64.39.

A number of equities analysts have recently issued reports on TAP shares. StockNews.com downgraded shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Friday, February 21st. Morgan Stanley increased their price objective on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the company an "equal weight" rating in a research note on Friday, February 14th. Berenberg Bank started coverage on shares of Molson Coors Beverage in a research note on Wednesday, April 2nd. They set a "buy" rating and a $86.90 price objective on the stock. Citigroup upgraded shares of Molson Coors Beverage from a "sell" rating to a "neutral" rating and increased their price objective for the company from $47.00 to $57.00 in a research note on Wednesday, February 5th. Finally, JPMorgan Chase & Co. dropped 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 research note on Thursday, January 30th.

Molson Coors Beverage Trading Up 0.6 %

Molson Coors Beverage stock traded up $0.38 during midday trading on Friday, reaching $59.38. The stock had a trading volume of 71,637 shares, compared to its average volume of 2,264,233. 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 has a 52-week low of $49.19 and a 52-week high of $64.66. The firm has a market cap of $12.03 billion, a price-to-earnings ratio of 11.10, a price-to-earnings-growth ratio of 1.52 and a beta of 0.69. The company has a fifty day moving average of $60.11 and a 200 day moving average of $58.27.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, topping analysts' consensus estimates of $1.17 by $0.13. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. On average, analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.17%. This is a positive change from Molson Coors Beverage's previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Thursday, February 27th. Molson Coors Beverage's dividend payout ratio (DPR) is 35.14%.

Institutional Trading of Molson Coors Beverage

Hedge funds and other institutional investors have recently bought and sold shares of the stock. HighTower Advisors LLC grew its holdings in Molson Coors Beverage by 123.3% during the fourth quarter. HighTower Advisors LLC now owns 18,258 shares of the company's stock worth $1,047,000 after acquiring an additional 10,080 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in 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 worth $2,046,000 after purchasing an additional 563 shares in the last quarter. US Bancorp DE boosted its position in Molson Coors Beverage by 103.9% during the fourth quarter. US Bancorp DE now owns 19,285 shares of the company's stock worth $1,106,000 after purchasing an additional 9,825 shares in the last quarter. Unified Investment Management purchased a new position in Molson Coors Beverage during the fourth quarter worth approximately $871,000. Finally, Wilsey Asset Management Inc. boosted its position in Molson Coors Beverage by 1.6% during the fourth quarter. Wilsey Asset Management Inc. now owns 550,539 shares of the company's stock worth $31,557,000 after purchasing an additional 8,679 shares in the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

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.