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

Shares of Molson Coors Beverage Company (NYSE:TAP) have received an average rating of “Hold” from the eighteen research firms that are covering the stock, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and five have assigned a buy recommendation to the company. The average twelve-month target price among brokers that have updated their coverage on the stock in the last year is $53.1813.

TAP has been the topic of several recent analyst reports. Jefferies Financial Group decreased their price target on Molson Coors Beverage from $51.00 to $48.00 and set a “hold” rating on the stock in a research note on Tuesday, November 4th. Evercore lowered 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. Sanford C. Bernstein dropped their price objective on Molson Coors Beverage from $54.00 to $50.00 and set a “market perform” rating for the company in a research note on Wednesday, November 5th. BNP Paribas Exane downgraded shares of Molson Coors Beverage from a “hold” rating to a “strong sell” rating and set a $40.00 target price on the stock. in a research note on Friday, January 16th. Finally, Roth Mkm reiterated a “buy” rating and issued a $65.00 target price (down from $67.00) on shares of Molson Coors Beverage in a report on Wednesday, November 5th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Polianta Ltd purchased a new stake in Molson Coors Beverage during the third quarter worth approximately $1,543,000. JPMorgan Chase & Co. raised its holdings in Molson Coors Beverage by 20.4% during the second quarter. JPMorgan Chase & Co. now owns 1,036,110 shares of the company’s stock worth $49,828,000 after purchasing an additional 175,587 shares in the last quarter. Swiss National Bank boosted its holdings in shares of Molson Coors Beverage by 5.5% in the 2nd quarter. Swiss National Bank now owns 537,600 shares of the company’s stock valued at $25,853,000 after buying an additional 27,900 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Molson Coors Beverage by 3.6% in the 3rd quarter. Invesco Ltd. now owns 4,430,544 shares of the company’s stock valued at $200,482,000 after buying an additional 152,859 shares in the last quarter. Finally, Gamco Investors INC. ET AL raised its stake in Molson Coors Beverage by 182.1% during the 2nd quarter. Gamco Investors INC. ET AL now owns 84,290 shares of the company’s stock worth $4,054,000 after acquiring an additional 54,410 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Stock Performance

NYSE:TAP opened at $54.27 on Friday. The company’s 50-day moving average is $48.34 and its two-hundred day moving average is $47.80. Molson Coors Beverage has a 1-year low of $42.94 and a 1-year high of $64.66. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.60 and a quick ratio of 0.45. The firm has a market capitalization of $10.72 billion, a price-to-earnings ratio of -5.08 and a beta of 0.48.

Molson Coors Beverage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.5%. The ex-dividend date was Friday, December 5th. Molson Coors Beverage’s dividend payout ratio is presently -17.60%.

About Molson Coors Beverage

Molson Coors Beverage Company is a leading multinational brewing and beverage enterprise formed through the 2005 merger of Canada’s Molson and the United States’ Coors. The company develops, markets and distributes an array of alcoholic and non-alcoholic beverages, focusing primarily on beer and ready-to-drink products. Its portfolio spans flagship brands such as Coors Light, Molson Canadian and Miller Lite, alongside craft-style offerings like Blue Moon and global imports including Carling and Staropramen.

In addition to its core beer business, Molson Coors has expanded into adjacent categories to capture evolving consumer tastes.