Molson Coors Beverage (NYSE:TAP) Stock Rating Lowered by StockNews.com

StockNews.com lowered shares of Molson Coors Beverage (NYSE:TAP) from a buy rating to a hold rating in a research note issued to investors on Thursday.

A number of other analysts have also recently commented on the stock. Citigroup lowered their target price on shares of Molson Coors Beverage from $56.00 to $53.00 and set a sell rating for the company in a research note on Wednesday, May 1st. JPMorgan Chase & Co. dropped their price objective on shares of Molson Coors Beverage from $66.00 to $60.00 and set a neutral rating on the stock in a report on Wednesday, May 1st. Deutsche Bank Aktiengesellschaft lifted their price target on Molson Coors Beverage from $64.00 to $65.00 and gave the stock a hold rating in a research report on Wednesday, April 17th. Bank of America cut their price objective on Molson Coors Beverage from $72.00 to $62.00 and set a neutral rating on the stock in a report on Wednesday, May 1st. Finally, UBS Group decreased their target price on Molson Coors Beverage from $70.00 to $64.00 and set a neutral rating for the company in a report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Molson Coors Beverage presently has a consensus rating of Hold and a consensus price target of $65.53.

Molson Coors Beverage Price Performance

NYSE TAP opened at $57.85 on Thursday. Molson Coors Beverage has a 12-month low of $55.67 and a 12-month high of $70.90. The firm’s fifty day simple moving average is $64.77 and its two-hundred day simple moving average is $62.36. The company has a current ratio of 0.69, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $12.30 billion, a P/E ratio of 11.57, a P/E/G ratio of 2.00 and a beta of 0.86.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Tuesday, April 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.21. The company had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.50 billion. Molson Coors Beverage had a return on equity of 9.47% and a net margin of 7.66%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the company posted $0.54 EPS. Analysts forecast that Molson Coors Beverage will post 5.67 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. Shareholders of record on Friday, March 1st were issued a $0.44 dividend. 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 yield of 3.04%. The ex-dividend date of this dividend was Thursday, February 29th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 35.20%.

Insider Activity

In other Molson Coors Beverage news, CFO Tracey Joubert sold 2,771 shares of the stock in a transaction 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 transaction, the chief financial officer now directly owns 60,538 shares of the company’s stock, valued at $3,654,679.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 2.71% of the company’s stock.

Institutional Trading of Molson Coors Beverage

A number of institutional investors have recently made changes to their positions in TAP. Czech National Bank boosted its stake in Molson Coors Beverage by 0.5% during the 1st quarter. Czech National Bank now owns 32,580 shares of the company’s stock worth $2,191,000 after purchasing an additional 149 shares during the last quarter. Kestra Private Wealth Services LLC boosted its position in Molson Coors Beverage by 1.5% during the fourth quarter. Kestra Private Wealth Services LLC now owns 11,589 shares of the company’s stock worth $709,000 after acquiring an additional 174 shares during the last quarter. IMPACTfolio LLC grew its stake in Molson Coors Beverage by 4.6% during the 4th quarter. IMPACTfolio LLC now owns 4,027 shares of the company’s stock valued at $246,000 after acquiring an additional 176 shares in the last quarter. Syntax Advisors LLC raised its holdings in Molson Coors Beverage by 5.0% in the 3rd quarter. Syntax Advisors LLC now owns 3,866 shares of the company’s stock valued at $246,000 after acquiring an additional 185 shares during the last quarter. Finally, Venturi Wealth Management LLC lifted its stake in Molson Coors Beverage by 46.6% in the 1st quarter. Venturi Wealth Management LLC now owns 585 shares of the company’s stock worth $39,000 after purchasing an additional 186 shares in the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

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.