Molson Coors Beverage (NYSE:TAP) Sees Strong Trading Volume - Should You Buy?

Molson Coors Beverage (NYSE:TAP - Get Free Report) saw an uptick in trading volume on Friday . 459,102 shares traded hands during trading, a decline of 32% from the previous session's volume of 675,410 shares.The stock last traded at $55.18 and had previously closed at $57.20.

Wall Street Analyst Weigh In

TAP has been the subject of several recent research reports. StockNews.com lowered Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Wednesday. Needham & Company LLC assumed coverage on Molson Coors Beverage in a research note on Friday, December 6th. They issued a "buy" rating and a $72.00 price objective for the company. Wells Fargo & Company raised Molson Coors Beverage from an "underweight" rating to an "overweight" rating and boosted their target price for the company from $52.00 to $74.00 in a research report on Friday, November 8th. Hsbc Global Res lowered Molson Coors Beverage from a "hold" rating to a "moderate sell" rating in a report on Friday, November 8th. Finally, Bank of America raised shares of Molson Coors Beverage from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $57.00 to $70.00 in a research note on Friday, December 6th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $62.00.

Molson Coors Beverage Price Performance

The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99. The firm has a fifty day simple moving average of $59.37 and a 200 day simple moving average of $55.61. The company has a market capitalization of $11.39 billion, a PE ratio of 12.45, a P/E/G ratio of 2.38 and a beta of 0.86.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The company reported $1.80 EPS for the quarter, beating 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 firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter last year, the firm posted $1.92 earnings per share. The business's revenue for the quarter was down 7.8% on a year-over-year basis. Equities analysts anticipate that Molson Coors Beverage will post 5.78 EPS for the current year.

Molson Coors Beverage Announces Dividend

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

Hedge Funds Weigh In On Molson Coors Beverage

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Altshuler Shaham Ltd purchased a new stake in Molson Coors Beverage during the second quarter worth $27,000. Ashton Thomas Securities LLC bought a new position in shares of Molson Coors Beverage in the 3rd quarter worth $35,000. Gladius Capital Management LP purchased a new stake in shares of Molson Coors Beverage during the 3rd quarter worth $42,000. Quarry LP bought a new stake in Molson Coors Beverage during the second quarter valued at about $54,000. Finally, True Wealth Design LLC bought a new stake in Molson Coors Beverage during the third quarter valued at about $59,000. 78.46% of the stock is currently owned by 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.