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

Molson Coors Beverage (NYSE:TAP) has been given an average rating of “Hold” by the fifteen research firms that are presently covering the stock, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $65.53.

TAP has been the topic of a number of analyst reports. Evercore ISI dropped their price target on Molson Coors Beverage from $70.00 to $68.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 1st. JPMorgan Chase & Co. reduced their price target on shares of Molson Coors Beverage from $66.00 to $60.00 and set a “neutral” rating for the company in a research report on Wednesday, May 1st. Barclays decreased their price objective on shares of Molson Coors Beverage from $67.00 to $62.00 and set an “equal weight” rating for the company in a research note on Thursday, May 2nd. The Goldman Sachs Group upgraded 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 report on Tuesday, April 9th. Finally, StockNews.com cut Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd.

Molson Coors Beverage Trading Down 0.1 %

Shares of Molson Coors Beverage stock opened at $58.21 on Friday. The company has a quick ratio of 0.47, a current ratio of 0.69 and a debt-to-equity ratio of 0.40. The business has a fifty day simple moving average of $64.48 and a 200-day simple moving average of $62.32. Molson Coors Beverage has a fifty-two week low of $55.67 and a fifty-two week high of $70.90. The firm has a market cap of $12.38 billion, a price-to-earnings ratio of 11.64, a price-to-earnings-growth ratio of 2.09 and a beta of 0.86.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Tuesday, April 30th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.21. The firm had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the firm posted $0.54 earnings per share. On average, equities analysts forecast that Molson Coors Beverage will post 5.67 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.44 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.41. This represents a $1.76 dividend on an annualized basis and a yield of 3.02%. Molson Coors Beverage’s dividend payout ratio is currently 35.20%.

Insider Transactions at Molson Coors Beverage

In other Molson Coors Beverage news, CFO Tracey Joubert sold 2,771 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $60.37, for a total transaction of $167,285.27. Following the transaction, the chief financial officer now owns 60,538 shares in the company, valued at $3,654,679.06. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 2.71% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. AQR Capital Management LLC grew its position in shares of Molson Coors Beverage by 76.0% in the third quarter. AQR Capital Management LLC now owns 3,475,114 shares of the company’s stock valued at $218,168,000 after purchasing an additional 1,500,269 shares during the last quarter. Morgan Stanley increased its position in Molson Coors Beverage by 40.2% in the 3rd quarter. Morgan Stanley now owns 3,446,989 shares of the company’s stock worth $219,194,000 after buying an additional 988,864 shares during the period. Invesco Ltd. lifted its holdings in shares of Molson Coors Beverage by 13.0% during the third quarter. Invesco Ltd. now owns 3,087,469 shares of the company’s stock worth $196,332,000 after buying an additional 355,694 shares during the last quarter. Pacer Advisors Inc. boosted its position in shares of Molson Coors Beverage by 9,466.3% in the fourth quarter. Pacer Advisors Inc. now owns 2,143,619 shares of the company’s stock valued at $131,211,000 after acquiring an additional 2,121,211 shares during the period. Finally, Norges Bank acquired a new stake in shares of Molson Coors Beverage in the fourth quarter worth $127,337,000. Institutional investors own 78.46% of the company’s stock.

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.