Molson Coors Beverage (NYSE:TAP) Receives $63.67 Consensus PT from Analysts

Shares of Molson Coors Beverage (NYSE:TAP) have been given an average recommendation of “Hold” by the fifteen research firms that are covering the firm, Marketbeat reports. Ten investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $63.60.

TAP has been the subject of several research reports. StockNews.com downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Barclays lowered their price target on Molson Coors Beverage from $62.00 to $61.00 and set an “equal weight” rating for the company in a research report on Thursday, March 27th. JPMorgan Chase & Co. cut their price objective on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. UBS Group lifted their target price on Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Finally, Morgan Stanley increased their price target on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in TAP. Truvestments Capital LLC lifted its position in Molson Coors Beverage by 51.4% during the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock worth $34,000 after buying an additional 202 shares in the last quarter. CoreCap Advisors LLC raised its holdings in shares of Molson Coors Beverage by 10,716.7% during the 4th quarter. CoreCap Advisors LLC now owns 649 shares of the company’s stock worth $37,000 after acquiring an additional 643 shares during the period. Quarry LP boosted its position in shares of Molson Coors Beverage by 55.1% during the 4th quarter. Quarry LP now owns 715 shares of the company’s stock valued at $41,000 after acquiring an additional 254 shares during the last quarter. Catalyst Capital Advisors LLC grew its holdings in shares of Molson Coors Beverage by 143.6% in the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock valued at $42,000 after purchasing an additional 428 shares during the period. Finally, SRS Capital Advisors Inc. increased its position in Molson Coors Beverage by 38.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock worth $42,000 after purchasing an additional 203 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Trading Up 0.7 %

Molson Coors Beverage stock opened at $60.95 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. The stock has a market cap of $12.35 billion, a PE ratio of 11.39, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81. The stock has a 50-day moving average of $58.22 and a two-hundred day moving average of $57.76. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.17 by $0.13. The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. On average, research analysts anticipate that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were issued a $0.47 dividend. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date was Thursday, February 27th. This represents a $1.88 dividend on an annualized basis and a yield of 3.08%. Molson Coors Beverage’s dividend payout ratio is presently 35.14%.

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.