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

Molson Coors Beverage (NYSE:TAP) has received an average recommendation of “Hold” from the fifteen analysts that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, nine have issued a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $61.07.

TAP has been the subject of a number of analyst reports. StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Citigroup dropped their price objective on Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating on the stock in a research note on Wednesday, July 10th. Deutsche Bank Aktiengesellschaft boosted their price objective on Molson Coors Beverage from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, April 17th. Bank of America dropped their price objective on Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 10th. Finally, Evercore ISI dropped their price objective 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.

Institutional Investors Weigh In On Molson Coors Beverage

Hedge funds and other institutional investors have recently made changes to their positions in the business. Diversified Trust Co bought a new stake in shares of Molson Coors Beverage during the fourth quarter worth $450,000. Raymond James Trust N.A. increased its stake in shares of Molson Coors Beverage by 2.9% during the 4th quarter. Raymond James Trust N.A. now owns 16,539 shares of the company’s stock worth $1,012,000 after purchasing an additional 464 shares during the last quarter. Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of Molson Coors Beverage during the 4th quarter worth approximately $110,000. SG Americas Securities LLC grew its stake in Molson Coors Beverage by 488.8% in the 4th quarter. SG Americas Securities LLC now owns 111,657 shares of the company’s stock valued at $6,835,000 after buying an additional 92,693 shares in the last quarter. Finally, Butensky & Cohen Financial Security Inc. grew its stake in Molson Coors Beverage by 1.1% in the 4th quarter. Butensky & Cohen Financial Security Inc. now owns 75,414 shares of the company’s stock valued at $4,616,000 after buying an additional 841 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Trading Up 0.9 %

NYSE:TAP opened at $53.37 on Thursday. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $70.90. The firm has a market capitalization of $11.31 billion, a P/E ratio of 10.67, a P/E/G ratio of 2.01 and a beta of 0.81. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.69 and a quick ratio of 0.47. The business has a 50 day simple moving average of $52.11 and a 200 day simple moving average of $59.37.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.95 earnings per share (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 during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter in the previous year, the firm posted $0.54 EPS. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. Equities research analysts predict that Molson Coors Beverage will post 5.58 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 30th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date is Friday, August 30th. Molson Coors Beverage’s payout ratio is currently 35.20%.

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.