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

Shares of Molson Coors Beverage (NYSE:TAP) have been assigned a consensus recommendation of “Hold” from the fifteen research firms that are currently covering the firm, MarketBeat Ratings reports. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $63.60.

TAP has been the topic of a number of analyst reports. Bank of America upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $57.00 to $70.00 in a research note on Friday, December 6th. JPMorgan Chase & Co. lowered their target price on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. UBS Group lifted their target price on Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Morgan Stanley raised their price target on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. Finally, Citigroup upgraded shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and lifted their price target for the company from $47.00 to $57.00 in a research report on Wednesday, February 5th.

Molson Coors Beverage Stock Up 0.7 %

Molson Coors Beverage stock opened at $60.98 on Tuesday. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The firm has a market capitalization of $12.35 billion, a price-to-earnings ratio of 11.40, a PEG ratio of 1.52 and a beta of 0.81. 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 company’s 50 day simple moving average is $58.00 and its 200 day simple moving average is $57.64.

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

Molson Coors Beverage Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 14th. Investors of record on Thursday, February 27th were issued a dividend of $0.47 per share. The ex-dividend date of this dividend was Thursday, February 27th. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a dividend yield of 3.08%. Molson Coors Beverage’s payout ratio is 35.14%.

Hedge Funds Weigh In On Molson Coors Beverage

A number of institutional investors and hedge funds have recently bought and sold shares of TAP. Clark Estates Inc. NY boosted its stake in shares of Molson Coors Beverage by 18.1% in the 3rd quarter. Clark Estates Inc. NY now owns 60,000 shares of the company’s stock valued at $3,451,000 after purchasing an additional 9,200 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in Molson Coors Beverage by 1.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company’s stock valued at $2,046,000 after acquiring an additional 563 shares in the last quarter. US Bancorp DE increased its holdings in Molson Coors Beverage by 103.9% during the 4th quarter. US Bancorp DE now owns 19,285 shares of the company’s stock worth $1,106,000 after purchasing an additional 9,825 shares in the last quarter. Unified Investment Management purchased a new stake in shares of Molson Coors Beverage in the fourth quarter worth approximately $871,000. Finally, Wilsey Asset Management Inc. lifted its holdings in shares of Molson Coors Beverage by 1.6% in the fourth quarter. Wilsey Asset Management Inc. now owns 550,539 shares of the company’s stock valued at $31,557,000 after purchasing an additional 8,679 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

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.