Molson Coors Beverage (NYSE:TAP) Given Average Rating of “Hold” by Brokerages

Shares of Molson Coors Beverage (NYSE:TAP) have been given an average recommendation of “Hold” by the fourteen ratings firms that are covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, eight have issued a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $62.36.

Several analysts have recently issued reports on the stock. Needham & Company LLC assumed coverage on shares of Molson Coors Beverage in a research report on Friday, December 6th. They set a “buy” rating and a $72.00 price target on the stock. Citigroup raised shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and increased their price target for the stock from $47.00 to $57.00 in a research report on Wednesday. StockNews.com cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. 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. Finally, BNP Paribas started coverage on shares of Molson Coors Beverage in a report on Monday, November 25th. They issued a “neutral” rating and a $64.00 target price on the stock.

Molson Coors Beverage Trading Down 0.2 %

Shares of TAP opened at $54.23 on Monday. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18. The firm has a 50-day moving average price of $57.21 and a 200 day moving average price of $56.22. The firm has a market capitalization of $11.17 billion, a P/E ratio of 12.21, a P/E/G ratio of 2.52 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.13. The business had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The business’s quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.92 earnings per share. Sell-side analysts forecast that Molson Coors Beverage will post 5.79 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a $0.44 dividend. The ex-dividend date was Friday, December 6th. This represents a $1.76 annualized dividend and a yield of 3.25%. Molson Coors Beverage’s dividend payout ratio is currently 39.64%.

Hedge Funds Weigh In On Molson Coors Beverage

Several hedge funds have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC increased its stake 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 during the last quarter. Integrated Investment Consultants LLC grew its position in shares of Molson Coors Beverage by 4.7% during the third quarter. Integrated Investment Consultants LLC now owns 4,154 shares of the company’s stock worth $239,000 after acquiring an additional 185 shares during the last quarter. Perpetual Ltd grew its position in shares of Molson Coors Beverage by 1.0% during the third quarter. Perpetual Ltd now owns 20,543 shares of the company’s stock worth $1,182,000 after acquiring an additional 197 shares during the last quarter. Pallas Capital Advisors LLC grew its position in shares of Molson Coors Beverage by 1.2% during the fourth quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company’s stock worth $975,000 after acquiring an additional 199 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its position in shares of Molson Coors Beverage by 7.4% during the fourth quarter. Venturi Wealth Management LLC now owns 2,935 shares of the company’s stock worth $168,000 after acquiring an additional 202 shares during the last quarter. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

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.