Molson Coors Beverage (NYSE:TAP) Upgraded by StockNews.com to “Buy” Rating

StockNews.com upgraded shares of Molson Coors Beverage (NYSE:TAP) from a hold rating to a buy rating in a research note published on Friday.

Several other equities research analysts have also commented on the stock. BNP Paribas began coverage on shares of Molson Coors Beverage in a research report on Monday, November 25th. They set a “neutral” rating and a $64.00 target price on the stock. Bank of America upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and upped their target price for the stock from $57.00 to $70.00 in a research report on Friday, December 6th. TD Cowen reduced their price target on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a research report on Tuesday, October 8th. Hsbc Global Res lowered Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. Finally, Barclays raised their price objective on Molson Coors Beverage from $49.00 to $51.00 and gave the company an “underweight” rating in a research note on Monday, November 11th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, Molson Coors Beverage has a consensus rating of “Hold” and a consensus price target of $62.00.

Molson Coors Beverage Trading Up 0.2 %

Shares of Molson Coors Beverage stock opened at $61.07 on Friday. The firm has a market cap of $12.58 billion, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 2.38 and a beta of 0.85. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The company’s 50-day simple moving average is $58.53 and its 200-day simple moving average is $54.99. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the prior year, the business posted $1.92 EPS. The company’s revenue for the quarter was down 7.8% on a year-over-year basis. As a group, equities research analysts anticipate that Molson Coors Beverage will post 5.78 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.88%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 39.64%.

Hedge Funds Weigh In On Molson Coors Beverage

Several institutional investors and hedge funds have recently modified their holdings of the company. State Street Corp raised its holdings in Molson Coors Beverage by 8.4% in the 3rd quarter. State Street Corp now owns 8,792,196 shares of the company’s stock valued at $505,727,000 after acquiring an additional 681,757 shares during the last quarter. Pacer Advisors Inc. increased its stake in Molson Coors Beverage by 66.5% in the second quarter. Pacer Advisors Inc. now owns 5,397,223 shares of the company’s stock valued at $274,341,000 after purchasing an additional 2,155,842 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Molson Coors Beverage by 20.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,579,811 shares of the company’s stock worth $131,130,000 after buying an additional 434,685 shares during the period. River Road Asset Management LLC boosted its stake in Molson Coors Beverage by 1.8% in the 3rd quarter. River Road Asset Management LLC now owns 1,677,241 shares of the company’s stock worth $96,475,000 after buying an additional 29,315 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC acquired a new stake in Molson Coors Beverage in the 3rd quarter worth about $48,202,000. 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.