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

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

Several other equities research analysts have also recently commented on the stock. Barclays dropped their price target on shares of Molson Coors Beverage from $67.00 to $62.00 and set an equal weight rating on the stock in a research report on Thursday. TheStreet upgraded shares of Molson Coors Beverage from a c rating to a b- rating in a research report on Tuesday, February 13th. Citigroup dropped their price target on shares of Molson Coors Beverage from $56.00 to $53.00 and set a sell rating on the stock in a research report on Wednesday. UBS Group dropped their price target on Molson Coors Beverage from $70.00 to $64.00 and set a neutral rating on the stock in a research note on Wednesday. Finally, The Goldman Sachs Group raised Molson Coors Beverage from a neutral rating to a buy rating and lifted their price target for the stock from $66.00 to $75.00 in a research note on Tuesday, April 9th. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus target price of $65.53.

Molson Coors Beverage Price Performance

Shares of Molson Coors Beverage stock traded up $0.05 on Thursday, hitting $57.85. The company had a trading volume of 2,054,717 shares, compared to its average volume of 2,096,558. Molson Coors Beverage has a 52 week low of $55.67 and a 52 week high of $70.90. The company has a market cap of $12.30 billion, a PE ratio of 11.57, a PEG ratio of 2.00 and a beta of 0.86. The business has a 50-day simple moving average of $64.77 and a 200-day simple moving average of $62.32. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.69 and a quick ratio of 0.50.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Tuesday, April 30th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.21. Molson Coors Beverage had a return on equity of 9.47% and a net margin of 7.66%. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the previous year, the business earned $0.54 EPS. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. Research analysts expect that Molson Coors Beverage will post 5.68 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Friday, March 1st were paid a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.04%. The ex-dividend date was Thursday, February 29th. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.41. Molson Coors Beverage’s payout ratio is 35.20%.

Insider Activity

In other news, CFO Tracey Joubert sold 2,771 shares of Molson Coors Beverage stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $60.37, for a total transaction of $167,285.27. Following the completion of the sale, the chief financial officer now directly owns 60,538 shares in the company, valued at approximately $3,654,679.06. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.71% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Molson Coors Beverage

Several institutional investors have recently made changes to their positions in TAP. Tennessee Valley Asset Management Partners acquired a new stake in shares of Molson Coors Beverage during the 4th quarter valued at about $29,000. Montag A & Associates Inc. acquired a new stake in Molson Coors Beverage in the 4th quarter worth approximately $31,000. Stone House Investment Management LLC acquired a new stake in Molson Coors Beverage in the 3rd quarter worth approximately $32,000. Raleigh Capital Management Inc. lifted its holdings in Molson Coors Beverage by 2,087.5% in the 4th quarter. Raleigh Capital Management Inc. now owns 525 shares of the company’s stock worth $32,000 after purchasing an additional 501 shares during the last quarter. Finally, Transcendent Capital Group LLC acquired a new stake in Molson Coors Beverage in the 4th quarter worth approximately $36,000. 78.46% of the stock is currently owned by institutional investors and hedge funds.

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.