Barclays Has Lowered Expectations for Molson Coors Beverage (NYSE:TAP) Stock Price

Molson Coors Beverage (NYSE:TAP) had its target price trimmed by Barclays from $62.00 to $61.00 in a research report report published on Thursday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other research analysts have also recently weighed in on TAP. Citigroup upgraded Molson Coors Beverage from a “sell” rating to a “neutral” rating and lifted their target price for the company from $47.00 to $57.00 in a report on Wednesday, February 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Molson Coors Beverage in a research note on Wednesday, February 12th. Morgan Stanley increased their target price on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. StockNews.com cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. Eleven analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $63.60.

Molson Coors Beverage Stock Up 0.7 %

TAP opened at $60.98 on Thursday. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18. The business has a 50-day moving average of $58.00 and a two-hundred day moving average of $57.64. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. The stock has a market capitalization of $12.35 billion, a price-to-earnings ratio of 11.40, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.13. The firm had revenue of $2.74 billion during the quarter, compared to the consensus estimate of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. On average, research analysts expect that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.08%. The ex-dividend date of this dividend was Thursday, February 27th. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s dividend payout ratio (DPR) is 35.14%.

Hedge Funds Weigh In On Molson Coors Beverage

Several institutional investors and hedge funds have recently made changes to their positions in TAP. Norges Bank bought a new position in Molson Coors Beverage during the 4th quarter valued at $142,407,000. Fairfax Financial Holdings Ltd. Can acquired a new stake in shares of Molson Coors Beverage in the 4th quarter valued at about $68,010,000. State Street Corp lifted its position in shares of Molson Coors Beverage by 8.4% during the third quarter. State Street Corp now owns 8,792,196 shares of the company’s stock worth $505,727,000 after purchasing an additional 681,757 shares during the last quarter. Estuary Capital Management LP acquired a new position in Molson Coors Beverage in the fourth quarter worth about $39,052,000. Finally, Freestone Grove Partners LP acquired a new position in Molson Coors Beverage in the fourth quarter worth about $29,913,000. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

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.