Molson Coors Beverage (NYSE:TAP) Now Covered by BNP Paribas

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

Several other brokerages have also recently issued reports on TAP. Wells Fargo & Company raised shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and increased their price target for the stock from $52.00 to $74.00 in a research report on Friday, November 8th. Hsbc Global Res cut shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the stock a “hold” rating in a research note on Wednesday, August 7th. Barclays increased their price objective on Molson Coors Beverage from $49.00 to $51.00 and gave the company an “underweight” rating in a research note on Monday, November 11th. Finally, UBS Group boosted their target price 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. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $60.57.

Molson Coors Beverage Stock Performance

NYSE:TAP opened at $60.67 on Monday. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. 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 company has a 50 day moving average price of $56.84 and a 200 day moving average price of $54.43. The stock has a market capitalization of $12.50 billion, a P/E ratio of 13.66, a PEG ratio of 2.34 and a beta of 0.82.

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

Molson Coors Beverage Dividend Announcement

The firm also recently declared 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 yield of 2.90%. The ex-dividend date is Friday, December 6th. Molson Coors Beverage’s dividend payout ratio (DPR) is 39.64%.

Hedge Funds Weigh In On Molson Coors Beverage

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC boosted its holdings in Molson Coors Beverage by 11.8% in the third quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company’s stock valued at $99,000 after purchasing an additional 182 shares in the last quarter. Integrated Investment Consultants LLC boosted its holdings in Molson Coors Beverage by 4.7% in the third quarter. Integrated Investment Consultants LLC now owns 4,154 shares of the company’s stock valued at $239,000 after purchasing an additional 185 shares in the last quarter. Perpetual Ltd boosted its holdings in Molson Coors Beverage by 1.0% in the third quarter. Perpetual Ltd now owns 20,543 shares of the company’s stock valued at $1,182,000 after purchasing an additional 197 shares in the last quarter. SkyView Investment Advisors LLC boosted its holdings in Molson Coors Beverage by 1.8% in the second quarter. SkyView Investment Advisors LLC now owns 15,102 shares of the company’s stock valued at $768,000 after purchasing an additional 274 shares in the last quarter. Finally, Private Advisor Group LLC boosted its holdings in Molson Coors Beverage by 0.9% in the third quarter. Private Advisor Group LLC now owns 32,080 shares of the company’s stock valued at $1,845,000 after purchasing an additional 277 shares in the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

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.