Molson Coors Beverage (NYSE:TAP) Receives $67.67 Consensus Price Target from Analysts

Molson Coors Beverage (NYSE:TAP) has been given a consensus recommendation of “Hold” by the thirteen brokerages that are covering the firm, Marketbeat reports. One analyst has rated the stock with a sell rating, ten have issued a hold rating and two have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $68.20.

Several analysts have weighed in on the stock. TheStreet upgraded shares of Molson Coors Beverage from a “c” rating to a “b-” rating in a research note on Tuesday, February 13th. Barclays lifted their price objective on shares of Molson Coors Beverage from $65.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Friday. Piper Sandler initiated coverage on shares of Molson Coors Beverage in a report on Friday, March 22nd. They issued a “neutral” rating and a $69.00 target price on the stock. The Goldman Sachs Group raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and raised their target price for the company from $66.00 to $75.00 in a report on Tuesday, April 9th. Finally, StockNews.com raised shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a report on Friday.

Molson Coors Beverage Stock Performance

NYSE TAP opened at $66.34 on Tuesday. Molson Coors Beverage has a 52-week low of $54.17 and a 52-week high of $70.90. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.70. The firm has a 50-day moving average of $64.64 and a 200-day moving average of $62.19. The stock has a market cap of $14.31 billion, a PE ratio of 15.22, a P/E/G ratio of 2.37 and a beta of 0.84.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.07. Molson Coors Beverage had a net margin of 6.83% and a return on equity of 8.89%. The business had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same quarter in the previous year, the company earned $1.30 EPS. The business’s revenue was up 6.1% on a year-over-year basis. On average, sell-side analysts anticipate that Molson Coors Beverage will post 5.66 EPS for the current year.

Molson Coors Beverage Increases Dividend

The business also recently declared 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. The ex-dividend date 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 2.65%. Molson Coors Beverage’s payout ratio is 40.37%.

Insider Activity at Molson Coors Beverage

In other Molson Coors Beverage news, CFO Tracey Joubert sold 2,771 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $60.37, for a total transaction of $167,285.27. Following the sale, the chief financial officer now directly owns 60,538 shares of the company’s stock, valued at approximately $3,654,679.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 2.30% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Molson Coors Beverage

Institutional investors have recently added to or reduced their stakes in the business. Quarry LP bought a new stake in Molson Coors Beverage during the 2nd quarter worth approximately $25,000. Tennessee Valley Asset Management Partners bought a new stake in Molson Coors Beverage during the 4th quarter worth approximately $29,000. Montag A & Associates Inc. acquired a new position in shares of Molson Coors Beverage in the 4th quarter worth approximately $31,000. Salem Investment Counselors Inc. acquired a new position in shares of Molson Coors Beverage in the 3rd quarter worth approximately $32,000. Finally, Stone House Investment Management LLC acquired a new position in shares of Molson Coors Beverage in the 3rd quarter worth approximately $32,000. 78.46% of the stock is owned by institutional investors.

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.