Molson Coors Beverage's (TAP) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Molson Coors Beverage (NYSE:TAP - Free Report) in a research report report published on Monday,Benzinga reports. The firm currently has a $72.00 price target on the stock.

TAP has been the subject of a number of other reports. Barclays decreased their price objective on shares of Molson Coors Beverage from $62.00 to $61.00 and set an "equal weight" rating for the company in a report on Thursday, March 27th. UBS Group upped their price target on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a "neutral" rating in a research report on Friday, February 14th. Morgan Stanley lifted their target price 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. Citigroup upgraded Molson Coors Beverage from a "sell" rating to a "neutral" rating and boosted their price objective for the company from $47.00 to $57.00 in a research report on Wednesday, February 5th. Finally, StockNews.com cut Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Friday, February 21st. Eleven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Molson Coors Beverage presently has an average rating of "Hold" and an average price target of $64.39.

Molson Coors Beverage Trading Up 0.0 %

Shares of NYSE:TAP traded up $0.01 during midday trading on Monday, hitting $58.72. 1,549,253 shares of the stock traded hands, compared to its average volume of 2,083,305. The business's 50 day moving average is $60.01 and its two-hundred day moving average is $58.22. The stock has a market capitalization of $11.90 billion, a PE ratio of 10.98, a P/E/G ratio of 1.52 and a beta of 0.69. 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 one year low of $49.19 and a one year high of $65.24.

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, beating analysts' consensus estimates 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 company had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.71 billion. As a group, research 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 declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were paid a dividend of $0.47 per share. This is a positive change from Molson Coors Beverage's previous quarterly dividend of $0.44. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date was Thursday, February 27th. Molson Coors Beverage's dividend payout ratio (DPR) is currently 35.14%.

Institutional Trading of Molson Coors Beverage

Hedge funds and other institutional investors have recently bought and sold shares of the business. Financial Management Professionals Inc. increased its position in shares of Molson Coors Beverage by 3,286.7% during the first quarter. Financial Management Professionals Inc. now owns 508 shares of the company's stock worth $31,000 after acquiring an additional 493 shares during the period. Truvestments Capital LLC grew its holdings in Molson Coors Beverage by 51.4% in the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company's stock worth $34,000 after purchasing an additional 202 shares during the last quarter. First Financial Corp IN acquired a new position in Molson Coors Beverage during the 1st quarter valued at about $37,000. CoreCap Advisors LLC raised its stake in Molson Coors Beverage by 10,716.7% in the fourth quarter. CoreCap Advisors LLC now owns 649 shares of the company's stock valued at $37,000 after buying an additional 643 shares during the last quarter. Finally, Quarry LP grew its stake in shares of Molson Coors Beverage by 55.1% during the fourth quarter. Quarry LP now owns 715 shares of the company's stock worth $41,000 after acquiring an additional 254 shares during the last quarter. Hedge funds and other institutional investors 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.