UBS Group Trims Molson Coors Beverage (NYSE:TAP) Target Price to $64.00

Molson Coors Beverage (NYSE:TAP) had its price objective lowered by UBS Group from $70.00 to $64.00 in a report released on Wednesday, Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research firms have also weighed in on TAP. TheStreet raised Molson Coors Beverage from a c rating to a b- rating in a research report on Tuesday, February 13th. The Goldman Sachs Group raised Molson Coors Beverage from a neutral rating to a buy rating and lifted their price target for the stock from $66.00 to $75.00 in a research report on Tuesday, April 9th. Barclays increased their price objective on shares of Molson Coors Beverage from $65.00 to $67.00 and gave the company an equal weight rating in a research report on Friday, April 12th. Evercore ISI decreased their target price on shares of Molson Coors Beverage from $70.00 to $68.00 and set an outperform rating for the company in a report on Wednesday. Finally, Bank of America cut their price target on shares of Molson Coors Beverage from $72.00 to $62.00 and set a neutral rating on the stock in a report on Wednesday. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Molson Coors Beverage currently has an average rating of Hold and a consensus target price of $65.53.

Molson Coors Beverage Stock Up 0.1 %

NYSE:TAP opened at $57.85 on Wednesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.69 and a quick ratio of 0.50. The firm’s 50-day moving average price is $64.86 and its 200-day moving average price is $62.33. The company has a market capitalization of $12.30 billion, a PE ratio of 11.57, a P/E/G ratio of 1.97 and a beta of 0.86. Molson Coors Beverage has a 1-year low of $55.67 and a 1-year high of $70.90.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Tuesday, April 30th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.74 by $0.21. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. The business had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the prior year, the company earned $0.54 earnings per share. The business’s revenue was up 10.7% compared to the same quarter last year. On average, equities analysts predict that Molson Coors Beverage will post 5.68 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 15th. Investors of record on Friday, March 1st were issued a $0.44 dividend. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.41. The ex-dividend date was Thursday, February 29th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.04%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 35.20%.

Insider Buying and Selling at Molson Coors Beverage

In related news, CFO Tracey Joubert sold 2,771 shares of the firm’s stock in a transaction 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 SEC, which is available through the SEC website. 2.71% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Molson Coors Beverage

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TAP. Affinity Investment Advisors LLC lifted its position in shares of Molson Coors Beverage by 2.9% in the first quarter. Affinity Investment Advisors LLC now owns 8,616 shares of the company’s stock valued at $579,000 after acquiring an additional 246 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in Molson Coors Beverage during the 1st quarter valued at approximately $1,365,000. BI Asset Management Fondsmaeglerselskab A S raised its position in shares of Molson Coors Beverage by 1.6% during the first quarter. BI Asset Management Fondsmaeglerselskab A S now owns 14,867 shares of the company’s stock valued at $1,000,000 after buying an additional 231 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of Molson Coors Beverage in the first quarter worth $498,000. Finally, FinTrust Capital Advisors LLC boosted its position in shares of Molson Coors Beverage by 2.2% during the first quarter. FinTrust Capital Advisors LLC now owns 21,938 shares of the company’s stock worth $1,475,000 after acquiring an additional 477 shares during the last quarter. Institutional investors own 78.46% of the company’s stock.

About Molson Coors Beverage

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.