Molson Coors Beverage (NYSE:TAP) Receives $65.53 Average PT from Analysts

Shares of Molson Coors Beverage (NYSE:TAP) have earned an average rating of “Hold” from the fifteen brokerages that are presently covering the firm, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating on the company. The average 1-year target price among brokers that have issued ratings on the stock in the last year is $65.53.

Several brokerages have weighed in on TAP. Bank of America lowered their target price on Molson Coors Beverage from $72.00 to $62.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. UBS Group dropped their price objective on shares of Molson Coors Beverage from $70.00 to $64.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 1st. StockNews.com cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. The Goldman Sachs Group upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $66.00 to $75.00 in a research note on Tuesday, April 9th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on shares of Molson Coors Beverage from $64.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, April 17th.

Molson Coors Beverage Stock Down 1.0 %

TAP stock opened at $57.27 on Friday. The company has a market cap of $12.18 billion, a price-to-earnings ratio of 11.45, a price-to-earnings-growth ratio of 2.09 and a beta of 0.86. The company has a fifty day moving average price of $64.66 and a 200 day moving average price of $62.36. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.69 and a quick ratio of 0.47. Molson Coors Beverage has a 12 month low of $55.67 and a 12 month high of $70.90.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Tuesday, April 30th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.21. The business had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.50 billion. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. The business’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.54 earnings per share. Sell-side analysts expect that Molson Coors Beverage will post 5.67 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.44 dividend. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.41. This represents a $1.76 annualized dividend and a dividend yield of 3.07%. The ex-dividend date of this dividend was Thursday, February 29th. Molson Coors Beverage’s dividend payout ratio is currently 35.20%.

Insiders Place Their Bets

In related news, CFO Tracey Joubert sold 2,771 shares of the company’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 transaction, the chief financial officer now owns 60,538 shares of the company’s stock, valued at $3,654,679.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 2.71% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. Cambridge Investment Research Advisors Inc. lifted its position in Molson Coors Beverage by 7.2% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 33,897 shares of the company’s stock worth $2,156,000 after buying an additional 2,279 shares during the period. Xponance Inc. boosted its position in shares of Molson Coors Beverage by 1.6% in the third quarter. Xponance Inc. now owns 26,896 shares of the company’s stock worth $1,710,000 after acquiring an additional 416 shares during the last quarter. Dakota Wealth Management increased its position in Molson Coors Beverage by 9.3% during the third quarter. Dakota Wealth Management now owns 3,412 shares of the company’s stock worth $217,000 after purchasing an additional 290 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its position in Molson Coors Beverage by 11.7% during the third quarter. Raymond James Financial Services Advisors Inc. now owns 21,673 shares of the company’s stock worth $1,378,000 after purchasing an additional 2,271 shares during the last quarter. Finally, Forsta AP Fonden purchased a new position in Molson Coors Beverage during the third quarter worth approximately $2,563,000. Hedge funds and other institutional investors own 78.46% of the company’s stock.

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.