Molson Coors Beverage (NYSE:TAP) Rating Lowered to “Hold” at StockNews.com

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

TAP has been the topic of a number of other reports. 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. UBS Group increased their price target on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Barclays increased their price target on shares of Molson Coors Beverage from $48.00 to $56.00 and gave the company an “underweight” rating in a research report on Tuesday, February 18th. Bank of America upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their price target for the company from $57.00 to $70.00 in a research report on Friday, December 6th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Molson Coors Beverage presently has a consensus rating of “Hold” and a consensus price target of $63.27.

Molson Coors Beverage Trading Down 0.2 %

Shares of TAP opened at $60.29 on Friday. The firm’s 50 day simple moving average is $56.41 and its 200 day simple moving average is $56.63. The company has a market capitalization of $12.42 billion, a P/E ratio of 11.27, a P/E/G ratio of 1.52 and a beta of 0.85. 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 has a 1-year low of $49.19 and a 1-year high of $69.18.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.71 billion. Sell-side analysts forecast that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company 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. 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 3.12%. The ex-dividend date is Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio (DPR) is 35.14%.

Hedge Funds Weigh In On Molson Coors Beverage

A number of institutional investors have recently bought and sold shares of TAP. Creative Planning raised its holdings in Molson Coors Beverage by 14.7% in the 3rd quarter. Creative Planning now owns 18,890 shares of the company’s stock worth $1,087,000 after purchasing an additional 2,418 shares during the period. Blue Trust Inc. raised its holdings in Molson Coors Beverage by 63.3% in the 3rd quarter. Blue Trust Inc. now owns 2,951 shares of the company’s stock worth $170,000 after purchasing an additional 1,144 shares during the period. Private Advisor Group LLC raised its holdings in Molson Coors Beverage by 0.9% in the 3rd quarter. Private Advisor Group LLC now owns 32,080 shares of the company’s stock worth $1,845,000 after purchasing an additional 277 shares during the period. Greenleaf Trust raised its holdings in Molson Coors Beverage by 22.6% in the 3rd quarter. Greenleaf Trust now owns 8,825 shares of the company’s stock worth $508,000 after purchasing an additional 1,625 shares during the period. Finally, International Assets Investment Management LLC raised its holdings in Molson Coors Beverage by 1,711.8% in the 3rd quarter. International Assets Investment Management LLC now owns 54,880 shares of the company’s stock worth $3,157,000 after purchasing an additional 51,851 shares during the period. 78.46% of the stock is owned by institutional investors.

About Molson Coors Beverage

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.