Molson Coors Beverage (NYSE:TAP) Receives Consensus Rating of “Hold” from Analysts

Shares of Molson Coors Beverage (NYSE:TAP) have received an average rating of “Hold” from the fifteen brokerages that are presently covering the firm, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price target among brokerages that have covered the stock in the last year is $63.60.

TAP has been the topic of several recent analyst reports. JPMorgan Chase & Co. decreased 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 report on Thursday, January 30th. Citigroup upgraded Molson Coors Beverage from a “sell” rating to a “neutral” rating and upped their price target for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. UBS Group lifted their price objective on Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Bank of America raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their target price for the stock from $57.00 to $70.00 in a research note on Friday, December 6th. Finally, StockNews.com lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st.

Molson Coors Beverage Price Performance

NYSE:TAP opened at $60.95 on Tuesday. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The stock’s fifty day moving average is $58.22 and its two-hundred day moving average is $57.76. The company has a market capitalization of $12.35 billion, a P/E ratio of 11.39, a P/E/G ratio of 1.52 and a beta of 0.81. 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 (NYSE:TAP) last issued its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.13. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. Equities analysts expect that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were given a $0.47 dividend. The ex-dividend date was Thursday, February 27th. This is an increase 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 3.08%. Molson Coors Beverage’s dividend payout ratio is currently 35.14%.

Hedge Funds Weigh In On Molson Coors Beverage

A number of institutional investors and hedge funds have recently modified their holdings of TAP. DoubleLine ETF Adviser LP raised its stake in Molson Coors Beverage by 1.7% in the fourth quarter. DoubleLine ETF Adviser LP now owns 10,297 shares of the company’s stock valued at $590,000 after buying an additional 170 shares in the last quarter. Pallas Capital Advisors LLC raised its position in shares of Molson Coors Beverage by 1.2% during the 4th quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company’s stock worth $975,000 after acquiring an additional 199 shares in the last quarter. Venturi Wealth Management LLC lifted its stake in Molson Coors Beverage by 7.4% during the fourth quarter. Venturi Wealth Management LLC now owns 2,935 shares of the company’s stock worth $168,000 after purchasing an additional 202 shares during the last quarter. Truvestments Capital LLC boosted 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 valued at $34,000 after purchasing an additional 202 shares in the last quarter. Finally, SRS Capital Advisors Inc. increased its stake in Molson Coors Beverage by 38.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock valued at $42,000 after purchasing an additional 203 shares during the last quarter. Institutional investors and hedge funds 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.