Molson Coors Beverage (NYSE:TAP) Receives $61.64 Consensus Target Price from Analysts

Molson Coors Beverage (NYSE:TAP) has received an average recommendation of “Hold” from the fourteen ratings firms that are covering the stock, Marketbeat Ratings reports. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and five have issued a buy rating on the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $62.36.

A number of research analysts have issued reports on the stock. Hsbc Global Res cut shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. Wells Fargo & Company raised shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and raised their price target for the stock from $52.00 to $74.00 in a report on Friday, November 8th. UBS Group decreased their price target on shares of Molson Coors Beverage from $60.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. JPMorgan Chase & Co. decreased their price target on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Finally, Needham & Company LLC initiated coverage on shares of Molson Coors Beverage in a report on Friday, December 6th. They issued a “buy” rating and a $72.00 price target for the company.

Institutional Investors Weigh In On Molson Coors Beverage

Large investors have recently modified their holdings of the business. Clark Estates Inc. NY grew its holdings in shares of Molson Coors Beverage by 18.1% during the third quarter. Clark Estates Inc. NY now owns 60,000 shares of the company’s stock worth $3,451,000 after buying an additional 9,200 shares in the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in shares of Molson Coors Beverage by 1.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company’s stock worth $2,046,000 after buying an additional 563 shares in the last quarter. Qsemble Capital Management LP grew its holdings in shares of Molson Coors Beverage by 23.5% during the third quarter. Qsemble Capital Management LP now owns 48,474 shares of the company’s stock worth $2,788,000 after buying an additional 9,234 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Molson Coors Beverage by 4.7% during the third quarter. Principal Financial Group Inc. now owns 211,812 shares of the company’s stock worth $12,183,000 after buying an additional 9,510 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of Molson Coors Beverage by 23.2% during the third quarter. FMR LLC now owns 716,311 shares of the company’s stock worth $41,202,000 after buying an additional 134,689 shares in the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Trading Down 0.2 %

NYSE:TAP opened at $54.23 on Monday. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The firm has a 50 day moving average of $57.21 and a 200 day moving average of $56.22. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $11.17 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 2.52 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Thursday, November 7th. The company reported $1.80 EPS for the quarter, beating analysts’ consensus estimates of $1.67 by $0.13. The company had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. Molson Coors Beverage’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.92 earnings per share. As a group, sell-side analysts anticipate that Molson Coors Beverage will post 5.79 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.25%. The ex-dividend date was Friday, December 6th. Molson Coors Beverage’s payout ratio is 39.64%.

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.