Molson Coors Beverage (NYSE:TAP) to Issue Quarterly Dividend of $0.38

Molson Coors Beverage (NYSE:TAPGet Rating) declared a quarterly dividend on Thursday, May 19th, Zacks reports. Shareholders of record on Friday, June 3rd will be paid a dividend of 0.38 per share on Wednesday, June 15th. This represents a $1.52 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend is Thursday, June 2nd.

Molson Coors Beverage has decreased its dividend by an average of 25.4% annually over the last three years and has raised its dividend annually for the last 1 consecutive years. Molson Coors Beverage has a payout ratio of 35.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Molson Coors Beverage to earn $4.31 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 35.3%.

Shares of Molson Coors Beverage stock opened at $51.23 on Friday. Molson Coors Beverage has a 1 year low of $42.46 and a 1 year high of $61.48. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.54 and a current ratio of 0.81. The company has a market capitalization of $11.11 billion, a P/E ratio of 10.37, a PEG ratio of 2.68 and a beta of 0.85. The company’s fifty day moving average is $53.62 and its two-hundred day moving average is $50.00.

Molson Coors Beverage (NYSE:TAPGet Rating) last released its earnings results on Tuesday, May 3rd. The company reported $0.29 EPS for the quarter, topping the consensus estimate of $0.19 by $0.10. Molson Coors Beverage had a net margin of 8.36% and a return on equity of 7.12%. The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.14 billion. During the same quarter last year, the business earned $0.01 EPS. The business’s revenue was up 16.7% on a year-over-year basis. As a group, equities analysts expect that Molson Coors Beverage will post 4 earnings per share for the current year.

Several research firms have recently commented on TAP. TheStreet upgraded shares of Molson Coors Beverage from a “c” rating to a “b-” rating in a research note on Wednesday, February 23rd. Citigroup raised their price objective on shares of Molson Coors Beverage from $58.00 to $61.00 in a research note on Friday, May 6th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Molson Coors Beverage from $49.00 to $51.00 in a research note on Wednesday, April 27th. Sanford C. Bernstein cut shares of Molson Coors Beverage from an “outperform” rating to a “market perform” rating and set a $59.00 price objective for the company. in a research note on Tuesday. Finally, Zacks Investment Research upgraded shares of Molson Coors Beverage from a “sell” rating to a “hold” rating and set a $57.00 price objective for the company in a research note on Thursday, April 28th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Molson Coors Beverage currently has an average rating of “Hold” and an average target price of $54.33.

Several hedge funds and other institutional investors have recently modified their holdings of TAP. Lazard Asset Management LLC grew its holdings in shares of Molson Coors Beverage by 96.4% during the first quarter. Lazard Asset Management LLC now owns 760 shares of the company’s stock worth $40,000 after buying an additional 373 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in Molson Coors Beverage by 1,171.4% in the first quarter. Geneos Wealth Management Inc. now owns 3,776 shares of the company’s stock valued at $201,000 after purchasing an additional 3,479 shares during the period. US Bancorp DE grew its holdings in Molson Coors Beverage by 45.7% in the first quarter. US Bancorp DE now owns 3,834 shares of the company’s stock valued at $205,000 after purchasing an additional 1,203 shares during the period. Forum Financial Management LP purchased a new stake in Molson Coors Beverage in the fourth quarter valued at approximately $211,000. Finally, Cetera Investment Advisers purchased a new stake in Molson Coors Beverage in the fourth quarter valued at approximately $242,000. Institutional investors and hedge funds own 79.62% of the company’s stock.

About Molson Coors Beverage (Get Rating)

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, Middle East, Africa, and Asia Pacific. It offers flavored malt beverages, craft, and ready to drink beverages. The company was formerly known as Molson Coors Brewing Company and changed its name to Molson Coors Beverage Company in January 2020.

See Also

Dividend History for Molson Coors Beverage (NYSE:TAP)

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