Molson Coors Beverage (NYSE:TAP) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Molson Coors Beverage (NYSE:TAP) have received an average recommendation of “Hold” from the fifteen analysts that are covering the firm, MarketBeat.com reports. Four analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $61.88.

Several analysts have recently weighed in on the stock. 58.com reaffirmed a “maintains” rating on shares of Molson Coors Beverage in a report on Monday, June 26th. Wedbush raised their price objective on shares of Molson Coors Beverage from $53.00 to $60.00 in a report on Thursday, May 4th. TheStreet raised shares of Molson Coors Beverage from a “c+” rating to a “b” rating in a report on Tuesday, May 2nd. 51job reaffirmed a “maintains” rating on shares of Molson Coors Beverage in a report on Monday, June 26th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Molson Coors Beverage from $72.00 to $69.00 and set a “neutral” rating for the company in a report on Wednesday, August 2nd.

Molson Coors Beverage Stock Performance

NYSE:TAP opened at $62.85 on Monday. Molson Coors Beverage has a 12-month low of $46.69 and a 12-month high of $70.90. The company has a quick ratio of 0.64, a current ratio of 0.87 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $13.59 billion, a PE ratio of 392.81, a price-to-earnings-growth ratio of 1.70 and a beta of 0.86. The firm has a 50-day moving average price of $66.09 and a 200 day moving average price of $60.38.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Tuesday, August 1st. The company reported $1.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.15. Molson Coors Beverage had a net margin of 0.31% and a return on equity of 8.17%. The firm had revenue of $3.27 billion during the quarter, compared to analyst estimates of $3.31 billion. Research analysts anticipate that Molson Coors Beverage will post 5.07 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Friday, September 1st will be paid a $0.41 dividend. The ex-dividend date of this dividend is Thursday, August 31st. This represents a $1.64 dividend on an annualized basis and a yield of 2.61%. Molson Coors Beverage’s payout ratio is presently 1,025.00%.

Hedge Funds Weigh In On Molson Coors Beverage

Hedge funds and other institutional investors have recently bought and sold shares of the business. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Molson Coors Beverage by 16.0% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 135,715 shares of the company’s stock valued at $6,710,000 after acquiring an additional 18,676 shares during the last quarter. IFP Advisors Inc boosted its position in shares of Molson Coors Beverage by 7.6% during the fourth quarter. IFP Advisors Inc now owns 4,158 shares of the company’s stock worth $254,000 after purchasing an additional 292 shares in the last quarter. Alpha Omega Wealth Management LLC boosted its position in shares of Molson Coors Beverage by 3.0% during the first quarter. Alpha Omega Wealth Management LLC now owns 94,755 shares of the company’s stock worth $4,897,000 after purchasing an additional 2,718 shares in the last quarter. Leavell Investment Management Inc. boosted its position in shares of Molson Coors Beverage by 17.3% during the first quarter. Leavell Investment Management Inc. now owns 4,846 shares of the company’s stock worth $250,000 after purchasing an additional 713 shares in the last quarter. Finally, AE Wealth Management LLC boosted its position in shares of Molson Coors Beverage by 81.7% during the first quarter. AE Wealth Management LLC now owns 8,566 shares of the company’s stock worth $443,000 after purchasing an additional 3,852 shares in the last quarter. 77.73% of the stock is owned by 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, and ready to drink beverages. It provides its products under Aspall Cider, Blue Moon, Coors Original, Hop Valley brands, Leinenkugel's, Miller Genuine Draft, Molson Ultra, Sharp's, Staropramen, and Vizzy Hard Seltzer above premier brands; Bergenbier, Borsodi, Carling, Coors Banquet, Coors Light, Jelen, Kamenitza, Miller Lite, Molson Canadian Lager, Molson Dry, Molson Export, and Niksicko, Ozujsko under the premium brands; and Branik, Icehouse, Keystone, Miller High Life, Milwaukee's Best, and Steel Reserve under the economy brands.