Barclays Issues Positive Forecast for Molson Coors Beverage (NYSE:TAP) Stock Price

Molson Coors Beverage (NYSE:TAP) had its price target increased by Barclays from $48.00 to $56.00 in a report published on Tuesday,Benzinga reports. Barclays currently has an underweight rating on the stock.

Other equities analysts also recently issued research reports about the company. UBS Group increased their price objective on Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price target on shares of Molson Coors Beverage in a research note on Wednesday, February 12th. Hsbc Global Res cut shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. Bank of America raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their price target for the company from $57.00 to $70.00 in a research report on Friday, December 6th. Finally, BNP Paribas initiated coverage on shares of Molson Coors Beverage in a report on Monday, November 25th. They set a “neutral” rating and a $64.00 target price for the company. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Molson Coors Beverage has an average rating of “Hold” and a consensus price target of $63.27.

Molson Coors Beverage Price Performance

Shares of NYSE TAP opened at $60.44 on Tuesday. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The stock has a market capitalization of $12.45 billion, a P/E ratio of 11.30, a P/E/G ratio of 1.55 and a beta of 0.85. The company’s 50-day moving average is $56.42 and its 200 day moving average is $56.52. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, topping 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 firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.71 billion. On average, sell-side analysts expect that Molson Coors Beverage will post 6.25 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Thursday, February 27th. This represents a $1.88 annualized dividend and a dividend yield of 3.11%. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s payout ratio is currently 32.90%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Truvestments Capital LLC raised its position in Molson Coors Beverage by 51.4% in the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock worth $34,000 after buying an additional 202 shares during the last quarter. Ashton Thomas Securities LLC purchased a new position in shares of Molson Coors Beverage during the third quarter valued at approximately $35,000. CoreCap Advisors LLC raised its holdings in shares of Molson Coors Beverage by 10,716.7% during the fourth quarter. CoreCap Advisors LLC now owns 649 shares of the company’s stock valued at $37,000 after purchasing an additional 643 shares during the last quarter. Quarry LP raised its holdings in shares of Molson Coors Beverage by 55.1% during the fourth quarter. Quarry LP now owns 715 shares of the company’s stock valued at $41,000 after purchasing an additional 254 shares during the last quarter. Finally, Gladius Capital Management LP purchased a new stake in Molson Coors Beverage during the 3rd quarter valued at $42,000. 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.