Molson Coors Beverage (NYSE:TAP) Receives $60.31 Average PT from Brokerages

Molson Coors Beverage (NYSE:TAP) has been assigned an average rating of “Hold” from the fourteen brokerages that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $60.57.

A number of analysts have commented on TAP shares. TD Cowen decreased their price target on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a research note on Tuesday, October 8th. Barclays boosted their target price 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. BNP Paribas began coverage on shares of Molson Coors Beverage in a research report on Monday. They issued a “neutral” rating and a $64.00 price target on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on Molson Coors Beverage from $56.00 to $57.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. Finally, Wells Fargo & Company upgraded Molson Coors Beverage from an “underweight” rating to an “overweight” rating and raised their target price for the company from $52.00 to $74.00 in a report on Friday, November 8th.

Molson Coors Beverage Price Performance

TAP stock opened at $61.41 on Wednesday. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The stock has a market capitalization of $12.65 billion, a PE ratio of 13.83, a price-to-earnings-growth ratio of 2.34 and a beta of 0.82. The company’s 50-day moving average is $56.94 and its 200-day moving average is $54.44. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.74.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Thursday, November 7th. The company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.13. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The firm had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter last year, the firm posted $1.92 earnings per share. The company’s revenue for the quarter was down 7.8% compared to the same quarter last year. Equities research analysts expect that Molson Coors Beverage will post 5.78 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.44 per share. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.76 annualized dividend and a yield of 2.87%. Molson Coors Beverage’s payout ratio is currently 39.64%.

Institutional Trading of Molson Coors Beverage

Several hedge funds have recently added to or reduced their stakes in TAP. Pacer Advisors Inc. increased its stake in shares of Molson Coors Beverage by 66.5% during the 2nd quarter. Pacer Advisors Inc. now owns 5,397,223 shares of the company’s stock worth $274,341,000 after purchasing an additional 2,155,842 shares during the last quarter. Capital International Investors increased its position in Molson Coors Beverage by 10.7% in the first quarter. Capital International Investors now owns 9,692,916 shares of the company’s stock worth $651,849,000 after buying an additional 939,142 shares during the last quarter. Thompson Siegel & Walmsley LLC purchased a new stake in Molson Coors Beverage in the third quarter worth $48,202,000. Ilex Capital Partners UK LLP bought a new stake in shares of Molson Coors Beverage in the first quarter valued at $53,096,000. Finally, State Street Corp lifted its position in shares of Molson Coors Beverage by 8.4% during the 3rd quarter. State Street Corp now owns 8,792,196 shares of the company’s stock valued at $505,727,000 after buying an additional 681,757 shares during the last quarter. Institutional investors own 78.46% of the company’s stock.

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.