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

Molson Coors Beverage (NYSE:TAP) has been assigned a consensus rating of “Hold” from the fifteen analysts that are presently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $65.53.

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. cut their price target on Molson Coors Beverage from $66.00 to $60.00 and set a “neutral” rating on the stock in a report on Wednesday. Piper Sandler initiated coverage on Molson Coors Beverage in a research note on Friday, March 22nd. They issued a “neutral” rating and a $69.00 price objective for the company. Evercore ISI cut their target price on Molson Coors Beverage from $70.00 to $68.00 and set an “outperform” rating on the stock in a report on Wednesday. StockNews.com downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Thursday. Finally, UBS Group reduced their price objective on shares of Molson Coors Beverage from $70.00 to $64.00 and set a “neutral” rating for the company in a report on Wednesday.

Molson Coors Beverage Stock Up 0.1 %

Shares of NYSE:TAP opened at $57.85 on Friday. The business has a fifty day simple moving average of $64.86 and a 200 day simple moving average of $62.33. Molson Coors Beverage has a 12-month low of $55.67 and a 12-month high of $70.90. The firm has a market cap of $12.30 billion, a P/E ratio of 11.57, a P/E/G ratio of 1.97 and a beta of 0.86. The company has a quick ratio of 0.50, a current ratio of 0.69 and a debt-to-equity ratio of 0.40.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Tuesday, April 30th. The company reported $0.95 EPS for the quarter, beating the consensus estimate of $0.74 by $0.21. Molson Coors Beverage had a return on equity of 9.47% and a net margin of 7.66%. The business had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same period in the prior year, the business posted $0.54 earnings per share. The firm’s revenue was up 10.7% on a year-over-year basis. Analysts predict that Molson Coors Beverage will post 5.68 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, February 29th. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.41. This represents a $1.76 annualized dividend and a dividend yield of 3.04%. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 35.20%.

Insider Buying and Selling

In other Molson Coors Beverage news, CFO Tracey Joubert sold 2,771 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $60.37, for a total value of $167,285.27. Following the transaction, the chief financial officer now directly owns 60,538 shares in the company, valued at $3,654,679.06. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.71% of the stock is owned by insiders.

Institutional Trading of Molson Coors Beverage

A number of large investors have recently bought and sold shares of the company. Tennessee Valley Asset Management Partners purchased a new stake in Molson Coors Beverage in the 4th quarter worth about $29,000. Stone House Investment Management LLC purchased a new position in shares of Molson Coors Beverage in the third quarter worth about $32,000. Montag A & Associates Inc. purchased a new position in shares of Molson Coors Beverage in the fourth quarter worth about $31,000. Raleigh Capital Management Inc. raised its position in shares of Molson Coors Beverage by 2,087.5% in the fourth quarter. Raleigh Capital Management Inc. now owns 525 shares of the company’s stock valued at $32,000 after purchasing an additional 501 shares during the period. Finally, Venturi Wealth Management LLC lifted its stake in shares of Molson Coors Beverage by 46.6% during the 1st quarter. Venturi Wealth Management LLC now owns 585 shares of the company’s stock valued at $39,000 after buying an additional 186 shares in 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.