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

Molson Coors Beverage (NYSE:TAP) has been given an average recommendation of “Hold” by the fourteen brokerages that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $62.00.

Several research firms have recently weighed in on TAP. Hsbc Global Res cut shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. StockNews.com upgraded Molson Coors Beverage from a “hold” rating to a “buy” rating in a report on Friday. BNP Paribas assumed coverage on shares of Molson Coors Beverage in a research report on Monday, November 25th. They set a “neutral” rating and a $64.00 price objective for the company. JPMorgan Chase & Co. lifted their price objective on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Barclays upped their price objective on shares of Molson Coors Beverage from $49.00 to $51.00 and gave the stock an “underweight” rating in a research report on Monday, November 11th.

Institutional Investors Weigh In On Molson Coors Beverage

Several institutional investors have recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its stake in Molson Coors Beverage by 8.9% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 17,330 shares of the company’s stock worth $881,000 after buying an additional 1,410 shares during the period. Envestnet Portfolio Solutions Inc. purchased a new position in shares of Molson Coors Beverage in the 2nd quarter valued at about $790,000. Blue Trust Inc. increased its position in shares of Molson Coors Beverage by 80.7% in the second quarter. Blue Trust Inc. now owns 1,807 shares of the company’s stock valued at $92,000 after buying an additional 807 shares in the last quarter. Raymond James & Associates grew its holdings in Molson Coors Beverage by 3.6% during the 2nd quarter. Raymond James & Associates now owns 641,015 shares of the company’s stock valued at $32,583,000 after buying an additional 22,369 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its stake in shares of Molson Coors Beverage by 783.2% during the second quarter. First Horizon Advisors Inc. now owns 2,049 shares of the company’s stock valued at $104,000 after buying an additional 1,817 shares during the period. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Price Performance

Shares of Molson Coors Beverage stock opened at $61.07 on Friday. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $12.58 billion, a price-to-earnings ratio of 13.75, a P/E/G ratio of 2.38 and a beta of 0.85. The firm’s 50-day moving average price is $58.53 and its two-hundred day moving average price is $55.00. 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 issued 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. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The company had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter in the previous year, the company earned $1.92 EPS. Molson Coors Beverage’s revenue was down 7.8% on a year-over-year basis. On average, equities analysts predict that Molson Coors Beverage will post 5.78 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.88%. The ex-dividend date is Friday, December 6th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 39.64%.

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.