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

Shares of Molson Coors Beverage Company (NYSE:TAP) have been given a consensus rating of “Hold” by the nineteen research firms that are covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $45.2941.

Several equities analysts have recently commented on the stock. Piper Sandler lowered their price objective on shares of Molson Coors Beverage from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Thursday, February 19th. Barclays lowered their price objective on shares of Molson Coors Beverage from $43.00 to $41.00 and set an “underweight” rating for the company in a research note on Friday, May 1st. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Molson Coors Beverage in a research note on Friday, March 27th. Needham & Company LLC lowered their price objective on shares of Molson Coors Beverage from $52.00 to $50.00 and set a “buy” rating for the company in a research note on Friday, May 1st. Finally, Evercore decreased their price target on shares of Molson Coors Beverage from $50.00 to $47.00 and set an “outperform” rating for the company in a research note on Tuesday, April 21st.

Insider Activity at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,245 shares of the stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $42.50, for a total value of $52,912.50. Following the completion of the transaction, the director owned 9,871 shares of the company’s stock, valued at approximately $419,517.50. This represents a 11.20% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Andrew Thomas Molson bought 2,000 shares of the firm’s stock in a transaction dated Monday, March 9th. The stock was purchased at an average cost of $46.67 per share, with a total value of $93,340.00. Following the transaction, the director directly owned 24,654 shares in the company, valued at approximately $1,150,602.18. This represents a 8.83% increase in their position. The SEC filing for this purchase provides additional information. 2.27% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in TAP. Caxton Associates LLP bought a new position in shares of Molson Coors Beverage in the 1st quarter worth approximately $202,000. United Services Automobile Association bought a new position in shares of Molson Coors Beverage in the 1st quarter worth approximately $215,000. Woodline Partners LP increased its stake in shares of Molson Coors Beverage by 38.7% during the first quarter. Woodline Partners LP now owns 14,546 shares of the company’s stock valued at $885,000 after purchasing an additional 4,056 shares in the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Molson Coors Beverage by 32.9% during the first quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock valued at $49,000 after purchasing an additional 198 shares in the last quarter. Finally, First Trust Advisors LP increased its stake in shares of Molson Coors Beverage by 4.7% during the second quarter. First Trust Advisors LP now owns 413,578 shares of the company’s stock valued at $19,889,000 after purchasing an additional 18,566 shares in the last quarter. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Performance

Shares of NYSE:TAP opened at $40.56 on Friday. The company has a market cap of $7.61 billion, a price-to-earnings ratio of -3.81 and a beta of 0.44. The company has a 50-day moving average price of $42.73 and a 200-day moving average price of $45.99. The company has a current ratio of 0.54, a quick ratio of 0.38 and a debt-to-equity ratio of 0.38. Molson Coors Beverage has a 12 month low of $40.37 and a 12 month high of $54.82.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.62 EPS for the quarter, beating the consensus estimate of $0.36 by $0.26. The firm had revenue of $2.35 billion during the quarter, compared to the consensus estimate of $2.33 billion. Molson Coors Beverage had a negative net margin of 16.14% and a positive return on equity of 9.79%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.50 earnings per share. As a group, equities analysts anticipate that Molson Coors Beverage will post 4.74 EPS for the current year.

Molson Coors Beverage Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Friday, May 29th. Molson Coors Beverage’s dividend payout ratio is presently -18.05%.

Molson Coors Beverage Company Profile

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.