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

Molson Coors Beverage (NYSE:TAP) has received an average rating of “Hold” from the fifteen research firms that are covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $65.07.

TAP has been the topic of a number of research reports. Bank of America lowered their target price on shares of Molson Coors Beverage from $72.00 to $62.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. JPMorgan Chase & Co. lowered their price objective on shares of Molson Coors Beverage from $66.00 to $60.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 1st. Piper Sandler began coverage on shares of Molson Coors Beverage in a research report on Friday, March 22nd. They issued a “neutral” rating and a $69.00 price objective on the stock. StockNews.com lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Molson Coors Beverage from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, April 17th.

Molson Coors Beverage Stock Performance

Shares of TAP opened at $50.83 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.47 and a debt-to-equity ratio of 0.40. The firm has a market cap of $10.77 billion, a PE ratio of 10.17, a price-to-earnings-growth ratio of 1.83 and a beta of 0.81. The company’s 50 day simple moving average is $55.09 and its 200-day simple moving average is $60.65. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $70.90.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Tuesday, April 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.21. The business had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.50 billion. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the firm posted $0.54 earnings per share. As a group, equities analysts predict that Molson Coors Beverage will post 5.68 EPS for the current year.

Molson Coors Beverage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 21st. Shareholders of record on Friday, June 7th were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.46%. The ex-dividend date of this dividend was Friday, June 7th. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 35.20%.

Institutional Investors Weigh In On Molson Coors Beverage

A number of hedge funds and other institutional investors have recently bought and sold shares of TAP. Czech National Bank raised its stake in shares of Molson Coors Beverage by 0.5% during the 1st quarter. Czech National Bank now owns 32,580 shares of the company’s stock worth $2,191,000 after buying an additional 149 shares during the last quarter. Kestra Private Wealth Services LLC raised its stake in shares of Molson Coors Beverage by 1.5% during the 4th 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. IMPACTfolio LLC raised its stake in shares of Molson Coors Beverage by 4.6% during the 4th quarter. IMPACTfolio LLC now owns 4,027 shares of the company’s stock worth $246,000 after buying an additional 176 shares during the last quarter. Venturi Wealth Management LLC raised its stake in shares of Molson Coors Beverage by 46.6% during the 1st quarter. Venturi Wealth Management LLC now owns 585 shares of the company’s stock worth $39,000 after buying an additional 186 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC raised its stake in shares of Molson Coors Beverage by 1.8% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 11,607 shares of the company’s stock worth $710,000 after buying an additional 200 shares during the last quarter. Institutional investors and hedge funds 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.