Molson Coors Beverage (NYSE:TAP) Receives $67.57 Average Price Target from Analysts

Molson Coors Beverage (NYSE:TAPGet Free Report) has earned an average recommendation of “Hold” from the thirteen brokerages that are covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and one has assigned a buy rating to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $67.57.

Several analysts recently commented on TAP shares. Barclays upped their target price on Molson Coors Beverage from $64.00 to $65.00 and gave the company an “equal weight” rating in a report on Thursday, February 15th. TheStreet raised Molson Coors Beverage from a “c” rating to a “b-” rating in a research report on Tuesday, February 13th. HSBC initiated coverage on Molson Coors Beverage in a research report on Thursday, November 30th. They set a “hold” rating and a $68.00 target price on the stock. Finally, StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Monday, March 11th.

Check Out Our Latest Analysis on TAP

Insider Activity at Molson Coors Beverage

In other Molson Coors Beverage news, CFO Tracey Joubert sold 2,771 shares of Molson Coors Beverage stock in a transaction that occurred on Monday, February 12th. The stock was 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 of the company’s stock, valued at approximately $3,654,679.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 2.41% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Molson Coors Beverage

Large investors have recently made changes to their positions in the business. Kestra Private Wealth Services LLC grew its position in shares of Molson Coors Beverage by 19.5% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 11,415 shares of the company’s stock worth $726,000 after buying an additional 1,859 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Molson Coors Beverage during the third quarter valued at approximately $145,000. SkyView Investment Advisors LLC boosted its position in shares of Molson Coors Beverage by 3.4% during the third quarter. SkyView Investment Advisors LLC now owns 12,343 shares of the company’s stock valued at $785,000 after purchasing an additional 408 shares in the last quarter. Metis Global Partners LLC boosted its position in shares of Molson Coors Beverage by 24.2% during the third quarter. Metis Global Partners LLC now owns 11,201 shares of the company’s stock valued at $712,000 after purchasing an additional 2,183 shares in the last quarter. Finally, Marshall Wace LLP boosted its position in shares of Molson Coors Beverage by 2,089.6% during the second quarter. Marshall Wace LLP now owns 2,150,603 shares of the company’s stock valued at $141,596,000 after purchasing an additional 2,052,384 shares in the last quarter. 73.95% of the stock is currently owned by institutional investors.

Molson Coors Beverage Stock Performance

NYSE:TAP opened at $68.00 on Friday. The stock has a market cap of $14.67 billion, a P/E ratio of 15.60, a price-to-earnings-growth ratio of 2.36 and a beta of 0.83. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40. The stock’s 50-day moving average is $63.02 and its 200-day moving average is $61.70. Molson Coors Beverage has a 1-year low of $49.32 and a 1-year high of $70.90.

Molson Coors Beverage (NYSE:TAPGet Free Report) last announced its earnings results on Tuesday, February 13th. The company reported $1.19 EPS for the quarter, beating the consensus estimate of $1.12 by $0.07. Molson Coors Beverage had a return on equity of 8.89% and a net margin of 6.83%. The business had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.78 billion. During the same period in the prior year, the business posted $1.30 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis. Equities research analysts anticipate that Molson Coors Beverage will post 5.66 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.59%. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.41. The ex-dividend date was Thursday, February 29th. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 40.37%.

About Molson Coors Beverage

(Get Free Report

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.

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Analyst Recommendations for Molson Coors Beverage (NYSE:TAP)

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