Molson Coors Beverage (NYSE:TAP) Price Target Increased to $67.00 by Analysts at Barclays

Molson Coors Beverage (NYSE:TAPFree Report) had its target price hoisted by Barclays from $65.00 to $67.00 in a report issued on Friday morning, Benzinga reports. Barclays currently has an equal weight rating on the stock.

A number of other analysts have also recently issued reports on TAP. StockNews.com cut Molson Coors Beverage from a buy rating to a hold rating in a research note on Monday, March 11th. Piper Sandler began coverage on shares of Molson Coors Beverage in a research note on Friday, March 22nd. They set a neutral rating and a $69.00 price objective for the company. The Goldman Sachs Group raised Molson Coors Beverage from a neutral rating to a buy rating and lifted their target price for the company from $66.00 to $75.00 in a research report on Tuesday. Finally, TheStreet upgraded Molson Coors Beverage from a c rating to a b- rating in a research note on Tuesday, February 13th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Molson Coors Beverage presently has an average rating of Hold and a consensus target price of $68.20.

Check Out Our Latest Report on TAP

Molson Coors Beverage Trading Down 2.2 %

TAP opened at $66.34 on Friday. Molson Coors Beverage has a 1-year low of $54.17 and a 1-year high of $70.90. The firm has a 50-day moving average price of $64.64 and a two-hundred day moving average price of $62.19. The stock has a market capitalization of $14.31 billion, a PE ratio of 15.22, a PEG ratio of 2.37 and a beta of 0.84. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40.

Molson Coors Beverage (NYSE:TAPGet Free Report) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.07. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.78 billion. Molson Coors Beverage had a net margin of 6.83% and a return on equity of 8.89%. Molson Coors Beverage’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.30 earnings per share. As a group, equities analysts anticipate that Molson Coors Beverage will post 5.66 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.44 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.76 dividend on an annualized basis and a yield of 2.65%. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.41. Molson Coors Beverage’s dividend payout ratio is 40.37%.

Insider Buying and Selling

In other news, CFO Tracey Joubert sold 2,771 shares of Molson Coors Beverage stock in a transaction on Monday, February 12th. The stock was sold at an average price of $60.37, for a total transaction of $167,285.27. Following the completion of the sale, the chief financial officer now owns 60,538 shares of the company’s stock, valued at $3,654,679.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Molson Coors Beverage

Large investors have recently added to or reduced their stakes in the stock. Czech National Bank increased its holdings in Molson Coors Beverage by 0.5% in the 1st quarter. Czech National Bank now owns 32,580 shares of the company’s stock valued at $2,191,000 after buying an additional 149 shares during the period. Belpointe Asset Management LLC lifted its stake in Molson Coors Beverage by 12.7% in the 1st quarter. Belpointe Asset Management LLC now owns 1,521 shares of the company’s stock valued at $79,000 after purchasing an additional 171 shares during the last quarter. Kestra Private Wealth Services LLC grew its stake in shares of Molson Coors Beverage by 1.5% during the fourth quarter. Kestra Private Wealth Services LLC now owns 11,589 shares of the company’s stock worth $709,000 after buying an additional 174 shares during the last quarter. Quent Capital LLC increased its holdings in shares of Molson Coors Beverage by 13.4% during the third quarter. Quent Capital LLC now owns 1,487 shares of the company’s stock worth $95,000 after buying an additional 176 shares in the last quarter. Finally, IMPACTfolio LLC increased its holdings in Molson Coors Beverage by 4.6% in the 4th quarter. IMPACTfolio LLC now owns 4,027 shares of the company’s stock worth $246,000 after purchasing an additional 176 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

About Molson Coors Beverage

(Get Free Report)

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.

Read More

Analyst Recommendations for Molson Coors Beverage (NYSE:TAP)

Receive News & Ratings for Molson Coors Beverage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Molson Coors Beverage and related companies with MarketBeat.com's FREE daily email newsletter.