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

Shares of Molson Coors Beverage (NYSE:TAP) have earned a consensus rating of “Hold” from the fifteen research firms that are currently covering the company, Marketbeat.com reports. Ten investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $64.39.

A number of brokerages recently commented on TAP. Citigroup upgraded Molson Coors Beverage from a “sell” rating to a “neutral” rating and upped their target price for the company from $47.00 to $57.00 in a research report on Wednesday, February 5th. Berenberg Bank initiated coverage on shares of Molson Coors Beverage in a report on Wednesday, April 2nd. They set a “buy” rating and a $86.90 target price for the company. Morgan Stanley upped their price target on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the company an “equal weight” rating in a report on Friday, February 14th. UBS Group boosted their price objective on Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Finally, Barclays dropped their target price on Molson Coors Beverage from $62.00 to $61.00 and set an “equal weight” rating on the stock in a report on Thursday, March 27th.

Molson Coors Beverage Stock Up 0.0 %

TAP stock opened at $58.72 on Friday. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $65.24. The stock has a market capitalization of $11.90 billion, a PE ratio of 10.98, a price-to-earnings-growth ratio of 1.52 and a beta of 0.69. The firm has a 50 day moving average of $60.01 and a 200 day moving average of $58.22.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.13. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. Sell-side analysts forecast that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were given a dividend of $0.47 per share. The ex-dividend date of this dividend was Thursday, February 27th. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 dividend on an annualized basis and a yield of 3.20%. Molson Coors Beverage’s payout ratio is presently 35.14%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. DoubleLine ETF Adviser LP lifted its position in Molson Coors Beverage by 1.7% during the fourth quarter. DoubleLine ETF Adviser LP now owns 10,297 shares of the company’s stock worth $590,000 after buying an additional 170 shares in the last quarter. Pallas Capital Advisors LLC boosted its position in shares of Molson Coors Beverage by 1.2% during the 4th quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company’s stock valued at $975,000 after acquiring an additional 199 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in shares of Molson Coors Beverage by 7.4% in the fourth quarter. Venturi Wealth Management LLC now owns 2,935 shares of the company’s stock valued at $168,000 after purchasing an additional 202 shares during the period. Truvestments Capital LLC increased its position in Molson Coors Beverage by 51.4% during the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock worth $34,000 after purchasing an additional 202 shares during the last quarter. Finally, SRS Capital Advisors Inc. increased its position in Molson Coors Beverage by 38.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock worth $42,000 after purchasing an additional 203 shares during the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

About Molson Coors Beverage

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.