Molson Coors Beverage (NYSE:TAP) Rating Increased to Neutral at Citigroup

Citigroup upgraded shares of Molson Coors Beverage (NYSE:TAP) from a sell rating to a neutral rating in a research report report published on Wednesday morning, Marketbeat.com reports. They currently have $57.00 target price on the stock, up from their previous target price of $47.00.

Several other research analysts have also recently commented on the company. UBS Group reduced their target price on Molson Coors Beverage from $60.00 to $58.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. BNP Paribas initiated coverage on shares of Molson Coors Beverage in a research report on Monday, November 25th. They set a “neutral” rating and a $64.00 target price on the stock. Bank of America raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their price target for the stock from $57.00 to $70.00 in a research report on Friday, December 6th. StockNews.com downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Sunday. Finally, Hsbc Global Res lowered Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $62.36.

Molson Coors Beverage Trading Up 0.7 %

Molson Coors Beverage stock opened at $53.31 on Wednesday. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99. The firm has a market capitalization of $10.98 billion, a PE ratio of 12.01, a PEG ratio of 2.52 and a beta of 0.85. The business’s 50-day simple moving average is $57.35 and its 200-day simple moving average is $56.23.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.13. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The company had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the previous year, the firm posted $1.92 EPS. The business’s revenue was down 7.8% compared to the same quarter last year. Equities research analysts forecast that Molson Coors Beverage will post 5.79 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.30%. The ex-dividend date was Friday, December 6th. Molson Coors Beverage’s dividend payout ratio is currently 39.64%.

Institutional Trading of Molson Coors Beverage

A number of hedge funds and other institutional investors have recently made changes to their positions in TAP. Clark Estates Inc. NY grew its holdings in Molson Coors Beverage by 18.1% during the 3rd quarter. Clark Estates Inc. NY now owns 60,000 shares of the company’s stock worth $3,451,000 after acquiring an additional 9,200 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of Molson Coors Beverage by 1.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company’s stock worth $2,046,000 after purchasing an additional 563 shares in the last quarter. Qsemble Capital Management LP grew its stake in shares of Molson Coors Beverage by 23.5% during the third quarter. Qsemble Capital Management LP now owns 48,474 shares of the company’s stock valued at $2,788,000 after purchasing an additional 9,234 shares during the last quarter. Principal Financial Group Inc. increased its holdings in shares of Molson Coors Beverage by 4.7% in the third quarter. Principal Financial Group Inc. now owns 211,812 shares of the company’s stock valued at $12,183,000 after purchasing an additional 9,510 shares in the last quarter. Finally, FMR LLC raised its position in Molson Coors Beverage by 23.2% in the 3rd quarter. FMR LLC now owns 716,311 shares of the company’s stock worth $41,202,000 after purchasing an additional 134,689 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Company Profile

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.