Analysts Set Molson Coors Beverage (NYSE:TAP) PT at $61.64

Molson Coors Beverage (NYSE:TAP) has been given a consensus rating of “Hold” by the fourteen research firms that are covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating on the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $62.36.

Several equities research analysts have issued reports on the stock. BNP Paribas assumed coverage on shares of Molson Coors Beverage in a research note on Monday, November 25th. They set a “neutral” rating and a $64.00 price target on the stock. UBS Group decreased their target price on shares of Molson Coors Beverage from $60.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Citigroup upgraded Molson Coors Beverage from a “sell” rating to a “neutral” rating and boosted their price target for the company from $47.00 to $57.00 in a report on Wednesday, February 5th. Wells Fargo & Company upgraded Molson Coors Beverage from an “underweight” rating to an “overweight” rating and raised their price objective for the stock from $52.00 to $74.00 in a report on Friday, November 8th. Finally, Barclays dropped their target price on Molson Coors Beverage from $51.00 to $48.00 and set an “underweight” rating for the company in a research note on Friday, January 17th.

Molson Coors Beverage Price Performance

TAP stock opened at $54.23 on Monday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99. The stock’s 50 day moving average price is $57.05 and its 200 day moving average price is $56.27. The firm has a market cap of $11.17 billion, a P/E ratio of 12.21, a PEG ratio of 2.07 and a beta of 0.85. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Thursday, November 7th. The company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter last year, the company earned $1.92 earnings per share. The business’s revenue for the quarter was down 7.8% compared to the same quarter last year. On average, sell-side analysts expect that Molson Coors Beverage will post 5.79 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

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

Hedge Funds Weigh In On Molson Coors Beverage

A number of hedge funds have recently made changes to their positions in TAP. Farther Finance Advisors LLC boosted its position in Molson Coors Beverage by 11.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company’s stock worth $99,000 after purchasing an additional 182 shares during the period. Integrated Investment Consultants LLC lifted its stake in shares of Molson Coors Beverage by 4.7% during the third quarter. Integrated Investment Consultants LLC now owns 4,154 shares of the company’s stock worth $239,000 after purchasing an additional 185 shares in the last quarter. Perpetual Ltd boosted its position in shares of Molson Coors Beverage by 1.0% in the third quarter. Perpetual Ltd now owns 20,543 shares of the company’s stock worth $1,182,000 after buying an additional 197 shares during the period. Pallas Capital Advisors LLC grew its stake in shares of Molson Coors Beverage by 1.2% in the fourth quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company’s stock valued at $975,000 after buying an additional 199 shares in the last quarter. Finally, Venturi Wealth Management LLC raised its holdings in shares of Molson Coors Beverage by 7.4% during the 4th quarter. Venturi Wealth Management LLC now owns 2,935 shares of the company’s stock valued at $168,000 after buying an additional 202 shares during the period. Hedge funds and other institutional investors own 78.46% of the company’s stock.

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.