Molson Coors Beverage (NYSE:TAP) Now Covered by Berenberg Bank

Berenberg Bank started coverage on shares of Molson Coors Beverage (NYSE:TAP) in a report published on Wednesday morning, Marketbeat reports. The brokerage issued a buy rating and a $86.90 price objective on the stock.

TAP has been the subject of several other research reports. Barclays lowered their price objective on shares of Molson Coors Beverage from $62.00 to $61.00 and set an “equal weight” rating for the company in a research note on Thursday, March 27th. Citigroup raised shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and raised their price target for the company from $47.00 to $57.00 in a research report on Wednesday, February 5th. JPMorgan Chase & Co. cut their price objective on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. UBS Group lifted their target price on Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Finally, StockNews.com downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Friday, February 21st. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Molson Coors Beverage has an average rating of “Hold” and an average target price of $65.06.

Molson Coors Beverage Stock Down 2.0 %

Molson Coors Beverage stock opened at $61.19 on Wednesday. The company has a market capitalization of $12.40 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The firm has a 50 day moving average price of $58.76 and a 200 day moving average price of $57.91.

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

Molson Coors Beverage Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were given a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.07%. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio (DPR) is 35.14%.

Institutional Investors Weigh In On Molson Coors Beverage

Institutional investors and hedge funds have recently bought and sold shares of the stock. Truvestments Capital LLC increased its position in shares of Molson Coors Beverage by 51.4% during the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock worth $34,000 after purchasing an additional 202 shares in the last quarter. CoreCap Advisors LLC grew its holdings in shares of Molson Coors Beverage by 10,716.7% during the fourth quarter. CoreCap Advisors LLC now owns 649 shares of the company’s stock worth $37,000 after buying an additional 643 shares during the last quarter. Quarry LP grew its stake in shares of Molson Coors Beverage by 55.1% in the 4th quarter. Quarry LP now owns 715 shares of the company’s stock valued at $41,000 after purchasing an additional 254 shares during the last quarter. Catalyst Capital Advisors LLC grew its position in Molson Coors Beverage by 143.6% in the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock valued at $42,000 after buying an additional 428 shares during the last quarter. Finally, SRS Capital Advisors Inc. increased its stake in shares of Molson Coors Beverage by 38.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock worth $42,000 after acquiring an additional 203 shares during the period. 78.46% of the stock is 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.