Molson Coors Beverage (NYSE:TAP) Receives Average Recommendation of “Hold” from Brokerages

Shares of Molson Coors Beverage (NYSE:TAPGet Rating) have been assigned a consensus recommendation of “Hold” from the thirteen analysts that are presently covering the company, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation and seven have given a hold recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $53.50.

A number of analysts have commented on the company. Bryan, Garnier & Co downgraded Molson Coors Beverage from a “buy” rating to a “sell” rating and set a $54.00 price objective for the company. in a research report on Thursday, September 1st. Sanford C. Bernstein reduced their price objective on Molson Coors Beverage to $57.00 in a research report on Tuesday, August 9th. Deutsche Bank Aktiengesellschaft reduced their price objective on Molson Coors Beverage from $54.00 to $52.00 in a research report on Wednesday, August 3rd. Credit Suisse Group cut their target price on Molson Coors Beverage from $50.00 to $49.00 and set an “underperform” rating for the company in a research report on Wednesday, August 3rd. Finally, UBS Group raised their target price on Molson Coors Beverage from $54.00 to $58.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 3rd.

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. Win Advisors Inc. increased its holdings in Molson Coors Beverage by 51.8% during the 2nd quarter. Win Advisors Inc. now owns 516 shares of the company’s stock valued at $29,000 after purchasing an additional 176 shares in the last quarter. Dark Forest Capital Management LP bought a new position in Molson Coors Beverage during the second quarter worth about $31,000. CX Institutional bought a new position in Molson Coors Beverage during the second quarter worth about $33,000. Global Retirement Partners LLC lifted its holdings in shares of Molson Coors Beverage by 304.9% in the second quarter. Global Retirement Partners LLC now owns 664 shares of the company’s stock valued at $36,000 after purchasing an additional 500 shares in the last quarter. Finally, Jones Financial Companies Lllp lifted its holdings in shares of Molson Coors Beverage by 529.5% in the second quarter. Jones Financial Companies Lllp now owns 661 shares of the company’s stock valued at $36,000 after purchasing an additional 556 shares in the last quarter. 79.22% of the stock is owned by institutional investors and hedge funds.

Molson Coors Beverage Stock Performance

TAP opened at $52.17 on Monday. The firm has a market capitalization of $11.31 billion, a P/E ratio of 15.48, a price-to-earnings-growth ratio of 3.14 and a beta of 0.85. The stock’s 50 day moving average price is $55.59 and its two-hundred day moving average price is $54.11. The company has a quick ratio of 0.57, a current ratio of 0.82 and a debt-to-equity ratio of 0.48. Molson Coors Beverage has a 12-month low of $42.46 and a 12-month high of $60.12.

Molson Coors Beverage (NYSE:TAPGet Rating) last released its earnings results on Tuesday, August 2nd. The company reported $1.19 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.19. The firm had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.94 billion. Molson Coors Beverage had a return on equity of 6.46% and a net margin of 5.73%. The company’s revenue was down .6% on a year-over-year basis. During the same quarter last year, the firm posted $1.58 EPS. On average, equities analysts forecast that Molson Coors Beverage will post 3.91 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Friday, September 2nd will be issued a dividend of $0.38 per share. The ex-dividend date is Thursday, September 1st. This represents a $1.52 dividend on an annualized basis and a yield of 2.91%. Molson Coors Beverage’s dividend payout ratio is 45.10%.

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.

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Analyst Recommendations for Molson Coors Beverage (NYSE:TAP)

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