StockNews.com Upgrades Molson Coors Beverage (NYSE:TAP) to “Buy”

StockNews.com upgraded shares of Molson Coors Beverage (NYSE:TAP) from a hold rating to a buy rating in a report issued on Monday.

Several other equities analysts also recently commented on the stock. BNP Paribas started coverage on shares of Molson Coors Beverage in a research note on Monday, November 25th. They issued a “neutral” rating and a $64.00 price target on the stock. Barclays raised their target price on shares of Molson Coors Beverage from $49.00 to $51.00 and gave the stock an “underweight” rating in a report on Monday, November 11th. JPMorgan Chase & Co. boosted their price target on Molson Coors Beverage from $57.00 to $60.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Wells Fargo & Company upgraded Molson Coors Beverage from an “underweight” rating to an “overweight” rating and raised their price objective for the stock from $52.00 to $74.00 in a research note on Friday, November 8th. Finally, TD Cowen cut their target price on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a research report on Tuesday, October 8th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $62.00.

Molson Coors Beverage Trading Up 0.6 %

Shares of TAP stock opened at $54.52 on Monday. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18. The company has a market capitalization of $11.23 billion, a PE ratio of 12.28, a price-to-earnings-growth ratio of 2.36 and a beta of 0.85. The firm has a 50 day moving average price of $59.22 and a two-hundred day moving average price of $55.86. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.13. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The business had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same period last year, the firm posted $1.92 EPS. The firm’s revenue for the quarter was down 7.8% compared to the same quarter last year. As a group, analysts predict that Molson Coors Beverage will post 5.78 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a $0.44 dividend. This represents a $1.76 annualized dividend and a yield of 3.23%. The ex-dividend date was Friday, December 6th. Molson Coors Beverage’s payout ratio is 39.64%.

Institutional Trading of Molson Coors Beverage

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pacer Advisors Inc. boosted its holdings in shares of Molson Coors Beverage by 66.5% during the 2nd quarter. Pacer Advisors Inc. now owns 5,397,223 shares of the company’s stock valued at $274,341,000 after acquiring an additional 2,155,842 shares in the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Molson Coors Beverage during the third quarter valued at about $48,202,000. State Street Corp grew its holdings in shares of Molson Coors Beverage by 8.4% during the third quarter. State Street Corp now owns 8,792,196 shares of the company’s stock worth $505,727,000 after purchasing an additional 681,757 shares during the last quarter. Millennium Management LLC increased its stake in shares of Molson Coors Beverage by 541.4% in the second quarter. Millennium Management LLC now owns 765,150 shares of the company’s stock valued at $38,893,000 after buying an additional 645,847 shares during the period. Finally, Dimensional Fund Advisors LP increased its stake in shares of Molson Coors Beverage by 20.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,579,811 shares of the company’s stock valued at $131,130,000 after buying an additional 434,685 shares during the period. 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.