Molson Coors Beverage (NYSE:TAP) Receives $67.67 Average PT from Brokerages

Molson Coors Beverage (NYSE:TAP) has been given an average recommendation of “Hold” by the thirteen analysts that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $68.20.

Several research firms have recently issued reports on TAP. TheStreet upgraded Molson Coors Beverage from a “c” rating to a “b-” rating in a research report on Tuesday, February 13th. StockNews.com raised Molson Coors Beverage from a “hold” rating to a “buy” rating in a research note on Friday. The Goldman Sachs Group raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their price target for the company from $66.00 to $75.00 in a research note on Tuesday, April 9th. Barclays lifted their price target on Molson Coors Beverage from $65.00 to $67.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, Piper Sandler assumed coverage on Molson Coors Beverage in a research report on Friday, March 22nd. They issued a “neutral” rating and a $69.00 target price on the stock.

Insider Activity

In other news, CFO Tracey Joubert sold 2,771 shares of Molson Coors Beverage stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $60.37, for a total value of $167,285.27. Following the completion of the sale, the chief financial officer now directly owns 60,538 shares in the company, valued at $3,654,679.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 2.71% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Molson Coors Beverage by 6.1% during the first quarter. Vanguard Group Inc. now owns 21,329,879 shares of the company’s stock valued at $1,138,589,000 after purchasing an additional 1,235,013 shares in the last quarter. State Street Corp raised its position in Molson Coors Beverage by 1.7% during the first quarter. State Street Corp now owns 8,727,747 shares of the company’s stock valued at $465,887,000 after purchasing an additional 143,757 shares in the last quarter. Capital International Investors increased its holdings in shares of Molson Coors Beverage by 1.0% during the first quarter. Capital International Investors now owns 4,721,084 shares of the company’s stock worth $252,011,000 after buying an additional 49,044 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Molson Coors Beverage by 1.0% in the 1st quarter. Geode Capital Management LLC now owns 3,859,484 shares of the company’s stock valued at $198,998,000 after acquiring an additional 38,966 shares during the last quarter. Finally, AQR Capital Management LLC lifted its stake in shares of Molson Coors Beverage by 76.0% in the 3rd quarter. AQR Capital Management LLC now owns 3,475,114 shares of the company’s stock valued at $218,168,000 after acquiring an additional 1,500,269 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Down 2.4 %

Shares of TAP opened at $64.76 on Tuesday. The firm has a market capitalization of $13.97 billion, a price-to-earnings ratio of 14.85, a PEG ratio of 2.31 and a beta of 0.84. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.70. The business’s fifty day moving average price is $64.71 and its two-hundred day moving average price is $62.20. Molson Coors Beverage has a 52 week low of $55.67 and a 52 week high of $70.90.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Tuesday, February 13th. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.07. Molson Coors Beverage had a return on equity of 8.89% and a net margin of 6.83%. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same period last year, the company earned $1.30 EPS. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. On average, analysts predict that Molson Coors Beverage will post 5.66 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 15th. Stockholders of record on Friday, March 1st were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.72%. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.41. The ex-dividend date was Thursday, February 29th. Molson Coors Beverage’s payout ratio is presently 40.37%.

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.