Molson Coors Beverage Company (NYSE:TAP) Given Consensus Rating of “Hold” by Brokerages

Shares of Molson Coors Beverage Company (NYSE:TAP) have been given a consensus rating of “Hold” by the seventeen ratings firms that are presently covering the company, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $53.5933.

A number of research analysts recently issued reports on the stock. Needham & Company LLC decreased their target price on shares of Molson Coors Beverage from $58.00 to $54.00 and set a “buy” rating for the company in a research report on Monday, November 3rd. Barclays lowered their target price on Molson Coors Beverage from $46.00 to $45.00 and set an “underweight” rating on the stock in a research note on Thursday, November 6th. Evercore ISI reduced their price target on Molson Coors Beverage from $53.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, November 5th. Citigroup decreased their price target on Molson Coors Beverage from $51.00 to $49.00 and set a “neutral” rating for the company in a report on Thursday, October 9th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $50.00 price objective (down previously from $53.00) on shares of Molson Coors Beverage in a research note on Wednesday, November 19th.

Molson Coors Beverage Price Performance

Shares of NYSE TAP opened at $46.57 on Friday. Molson Coors Beverage has a 52 week low of $42.94 and a 52 week high of $64.66. The business’s 50 day moving average price is $45.72 and its 200 day moving average price is $48.93. The company has a quick ratio of 0.67, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. The firm has a market cap of $9.20 billion, a P/E ratio of 9.18, a P/E/G ratio of 1.60 and a beta of 0.65.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $1.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.05). The business had revenue of $2.97 billion for the quarter, compared to analysts’ expectations of $3.02 billion. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. On average, sell-side analysts expect that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 19th. Shareholders of record on Friday, December 5th will be issued a $0.47 dividend. The ex-dividend date of this dividend is Friday, December 5th. This represents a $1.88 dividend on an annualized basis and a yield of 4.0%. Molson Coors Beverage’s payout ratio is presently -17.60%.

Insider Transactions at Molson Coors Beverage

In other news, Director Andrew Thomas Molson bought 7,500 shares of the stock in a transaction dated Monday, November 10th. The shares were acquired at an average cost of $46.79 per share, with a total value of $350,925.00. Following the purchase, the director directly owned 22,654 shares in the company, valued at $1,059,980.66. The trade was a 49.49% increase in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director David S. Coors purchased 2,245 shares of the business’s stock in a transaction that occurred on Wednesday, November 5th. The stock was acquired at an average price of $44.47 per share, with a total value of $99,835.15. Following the purchase, the director owned 30,586 shares in the company, valued at $1,360,159.42. This represents a 7.92% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Corporate insiders own 2.71% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Nuveen LLC purchased a new stake in Molson Coors Beverage in the first quarter valued at approximately $22,253,000. Jump Financial LLC raised its holdings in shares of Molson Coors Beverage by 205.4% in the 1st quarter. Jump Financial LLC now owns 24,307 shares of the company’s stock valued at $1,480,000 after buying an additional 16,349 shares during the period. Signaturefd LLC lifted its stake in Molson Coors Beverage by 79.8% during the 2nd quarter. Signaturefd LLC now owns 2,861 shares of the company’s stock worth $138,000 after acquiring an additional 1,270 shares in the last quarter. Swiss National Bank boosted its holdings in Molson Coors Beverage by 5.5% during the 2nd quarter. Swiss National Bank now owns 537,600 shares of the company’s stock valued at $25,853,000 after acquiring an additional 27,900 shares during the period. Finally, Hsbc Holdings PLC boosted its holdings in Molson Coors Beverage by 32.8% during the 1st quarter. Hsbc Holdings PLC now owns 466,666 shares of the company’s stock valued at $28,424,000 after acquiring an additional 115,186 shares during the period. Hedge funds and other institutional investors own 78.46% of the company’s stock.

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.