Molson Coors Beverage (NYSE:TAP) Given Consensus Recommendation of “Hold” by Brokerages

Molson Coors Beverage (NYSE:TAP) has been assigned an average recommendation of “Hold” from the fifteen analysts that are currently covering the company, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $65.07.

Several equities analysts have weighed in on the stock. Citigroup lowered 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 report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft raised their price target on Molson Coors Beverage from $64.00 to $65.00 and gave the company a “hold” rating in a report on Wednesday, April 17th. Barclays dropped their price objective on Molson Coors Beverage from $62.00 to $55.00 and set an “equal weight” rating for the company in a research note on Wednesday, May 29th. Evercore ISI decreased their target price 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. Finally, StockNews.com downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd.

Institutional Trading of Molson Coors Beverage

Several hedge funds and other institutional investors have recently bought and sold shares of TAP. Pacer Advisors Inc. increased its position in Molson Coors Beverage by 9,466.3% during 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 last quarter. Norges Bank bought a new stake in Molson Coors Beverage in the fourth quarter worth about $127,337,000. AQR Capital Management LLC boosted its position in shares of Molson Coors Beverage by 76.0% during the third quarter. AQR Capital Management LLC now owns 3,475,114 shares of the company’s stock valued at $218,168,000 after buying an additional 1,500,269 shares during the period. Morgan Stanley grew its stake in shares of Molson Coors Beverage by 40.2% during the third quarter. Morgan Stanley now owns 3,446,989 shares of the company’s stock valued at $219,194,000 after buying an additional 988,864 shares during the last quarter. Finally, Capital International Investors raised its holdings in shares of Molson Coors Beverage by 10.7% in the first quarter. Capital International Investors now owns 9,692,916 shares of the company’s stock worth $651,849,000 after buying an additional 939,142 shares during the period. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Price Performance

Shares of NYSE TAP opened at $50.63 on Friday. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $70.90. The company has a 50 day moving average of $55.36 and a 200 day moving average of $60.75. 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 firm has a market cap of $10.73 billion, a P/E ratio of 10.13, a PEG ratio of 1.84 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.21. The firm had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Molson Coors Beverage had a return on equity of 9.47% and a net margin of 7.66%. The company’s revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 EPS. As a group, research analysts expect that Molson Coors Beverage will post 5.68 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Friday, June 7th. This represents a $1.76 dividend on an annualized basis and a yield of 3.48%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 35.20%.

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.