Molson Coors Beverage (NYSE:TAP) Earns Neutral Rating from Analysts at BNP Paribas

BNP Paribas initiated coverage on shares of Molson Coors Beverage (NYSE:TAP) in a research report released on Monday morning, Marketbeat reports. The brokerage issued a neutral rating and a $64.00 price objective on the stock.

TAP has been the subject of several other research reports. UBS Group increased their price target on Molson Coors Beverage from $55.00 to $58.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. TD Cowen lowered their target price on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a research note on Tuesday, October 8th. Wells Fargo & Company upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and boosted their price target for the stock from $52.00 to $74.00 in a research report on Friday, November 8th. JPMorgan Chase & Co. increased their price objective on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Finally, Barclays raised their price objective on shares of Molson Coors Beverage from $49.00 to $51.00 and gave the company an “underweight” rating in a research note on Monday, November 11th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Molson Coors Beverage has an average rating of “Hold” and a consensus target price of $60.57.

Molson Coors Beverage Trading Down 0.3 %

Molson Coors Beverage stock opened at $61.23 on Monday. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $12.61 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 2.35 and a beta of 0.82. The firm has a 50-day moving average price of $57.05 and a two-hundred day moving average price of $54.46.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.13. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the previous year, the firm posted $1.92 earnings per share. The business’s revenue was down 7.8% on a year-over-year basis. Sell-side analysts expect that Molson Coors Beverage will post 5.78 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.87%. The ex-dividend date is Friday, December 6th. Molson Coors Beverage’s payout ratio is 39.64%.

Hedge Funds Weigh In On Molson Coors Beverage

A number of institutional investors have recently bought and sold shares of the stock. Lazard Asset Management LLC boosted its holdings in shares of Molson Coors Beverage by 6,659.2% in the first quarter. Lazard Asset Management LLC now owns 101,928 shares of the company’s stock worth $6,854,000 after buying an additional 100,420 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Molson Coors Beverage by 22.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 307,393 shares of the company’s stock valued at $20,673,000 after acquiring an additional 56,584 shares during the period. Janus Henderson Group PLC lifted its position in shares of Molson Coors Beverage by 144.6% in the 1st quarter. Janus Henderson Group PLC now owns 73,909 shares of the company’s stock valued at $4,969,000 after acquiring an additional 43,696 shares in the last quarter. Redwood Investment Management LLC acquired a new position in Molson Coors Beverage in the 1st quarter worth approximately $1,513,000. Finally, SkyView Investment Advisors LLC acquired a new position in Molson Coors Beverage in the 1st quarter worth approximately $997,000. Hedge funds and other 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.