Molson Coors Beverage (NYSE:TAP) Receives $63.67 Consensus Target Price from Brokerages

Shares of Molson Coors Beverage (NYSE:TAP) have been given an average recommendation of “Hold” by the fifteen research firms that are currently covering the stock, MarketBeat.com reports. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $63.60.

Several equities research analysts have commented on TAP shares. JPMorgan Chase & Co. dropped their target price on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Barclays dropped their price target on shares of Molson Coors Beverage from $62.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Thursday. Bank of America upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and raised their price objective for the company from $57.00 to $70.00 in a research note on Friday, December 6th. Morgan Stanley upped their target price on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Friday, February 14th. Finally, Needham & Company LLC reissued a “buy” rating and set a $72.00 price target on shares of Molson Coors Beverage in a research report on Wednesday, February 12th.

Molson Coors Beverage Trading Down 0.7 %

Shares of NYSE TAP opened at $60.52 on Tuesday. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. The firm has a 50-day moving average of $58.11 and a 200 day moving average of $57.69. The stock has a market cap of $12.26 billion, a P/E ratio of 11.31, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.13. The firm had revenue of $2.74 billion during the quarter, compared to analyst estimates of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. As a group, sell-side analysts expect that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.11%. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date was Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 35.14%.

Hedge Funds Weigh In On Molson Coors Beverage

Several institutional investors have recently made changes to their positions in the business. Truvestments Capital LLC grew its position in Molson Coors Beverage by 51.4% during the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock valued at $34,000 after buying an additional 202 shares during the period. CoreCap Advisors LLC increased its stake in shares of Molson Coors Beverage by 10,716.7% in the 4th quarter. CoreCap Advisors LLC now owns 649 shares of the company’s stock worth $37,000 after purchasing an additional 643 shares in the last quarter. Quarry LP raised its holdings in Molson Coors Beverage by 55.1% in the 4th quarter. Quarry LP now owns 715 shares of the company’s stock worth $41,000 after purchasing an additional 254 shares during the period. Catalyst Capital Advisors LLC lifted its position in Molson Coors Beverage by 143.6% during the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock valued at $42,000 after purchasing an additional 428 shares in the last quarter. Finally, SRS Capital Advisors Inc. grew its holdings in Molson Coors Beverage by 38.6% during the fourth quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock valued at $42,000 after purchasing an additional 203 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.