Molson Coors Beverage (NYSE:TAP) Receives $61.64 Average PT from Analysts

Molson Coors Beverage (NYSE:TAP) has been given an average recommendation of “Hold” by the fourteen analysts that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $62.36.

A number of research analysts recently issued reports on the company. JPMorgan Chase & Co. dropped their price target on 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. Citigroup upgraded shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and upped their price target for the company from $47.00 to $57.00 in a research report on Wednesday, February 5th. UBS Group decreased their price target on shares of Molson Coors Beverage from $60.00 to $58.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Wells Fargo & Company upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and lifted their price objective for the company from $52.00 to $74.00 in a research note on Friday, November 8th. Finally, Needham & Company LLC initiated coverage on shares of Molson Coors Beverage in a research note on Friday, December 6th. They set a “buy” rating and a $72.00 target price for the company.

Institutional Investors Weigh In On Molson Coors Beverage

Hedge funds and other institutional investors have recently bought and sold shares of the business. Farther Finance Advisors LLC increased its holdings in shares of Molson Coors Beverage by 11.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company’s stock valued at $99,000 after purchasing an additional 182 shares in the last quarter. Integrated Investment Consultants LLC increased its holdings in Molson Coors Beverage by 4.7% in the third quarter. Integrated Investment Consultants LLC now owns 4,154 shares of the company’s stock valued at $239,000 after buying an additional 185 shares in the last quarter. Perpetual Ltd lifted its position in shares of Molson Coors Beverage by 1.0% during the 3rd quarter. Perpetual Ltd now owns 20,543 shares of the company’s stock valued at $1,182,000 after acquiring an additional 197 shares during the period. Pallas Capital Advisors LLC boosted its stake 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. Finally, Venturi Wealth Management LLC grew its holdings in shares of Molson Coors Beverage by 7.4% in the 4th quarter. Venturi Wealth Management LLC now owns 2,935 shares of the company’s stock worth $168,000 after acquiring an additional 202 shares during the period. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Stock Performance

Shares of Molson Coors Beverage stock opened at $54.23 on Monday. 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 has a 52 week low of $49.19 and a 52 week high of $69.18. The firm’s 50 day moving average is $57.05 and its two-hundred day moving average is $56.27. The firm has a market capitalization of $11.17 billion, a P/E ratio of 12.21, a P/E/G ratio of 2.07 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Thursday, November 7th. The company reported $1.80 EPS for the quarter, topping the consensus estimate of $1.67 by $0.13. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same period last year, the business earned $1.92 EPS. Molson Coors Beverage’s revenue for the quarter was down 7.8% compared to the same quarter last year. Research analysts forecast that Molson Coors Beverage will post 5.79 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date of this dividend was Friday, December 6th. Molson Coors Beverage’s dividend payout ratio is presently 39.64%.

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.