Molson Coors Beverage (NYSE:TAP) Receives $62.71 Average PT from Analysts

Molson Coors Beverage (NYSE:TAP) has been assigned an average recommendation of “Hold” from the fourteen research firms that are covering the stock, Marketbeat reports. Ten analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $62.71.

TAP has been the subject of a number of research analyst reports. UBS Group lowered their target price on Molson Coors Beverage from $63.00 to $59.00 and set a “neutral” rating for the company in a research note on Friday, May 9th. Morgan Stanley dropped their target price on shares of Molson Coors Beverage from $63.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Friday, May 9th. Needham & Company LLC cut their target price on Molson Coors Beverage from $72.00 to $65.00 and set a “buy” rating on the stock in a research note on Monday, May 12th. JPMorgan Chase & Co. reduced their target price on 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, Barclays lowered their price target on Molson Coors Beverage from $60.00 to $57.00 and set an “equal weight” rating on the stock in a report on Monday, May 12th.

Molson Coors Beverage Price Performance

Shares of Molson Coors Beverage stock opened at $56.95 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. Molson Coors Beverage has a one year low of $49.19 and a one year high of $64.66. The business’s 50 day simple moving average is $58.52 and its two-hundred day simple moving average is $58.45. The stock has a market capitalization of $11.54 billion, a P/E ratio of 10.64, a price-to-earnings-growth ratio of 1.52 and a beta of 0.73.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.50 EPS for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.30). Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The business had revenue of $2.30 billion for the quarter, compared to the consensus estimate of $2.43 billion. During the same period in the previous year, the company earned $0.95 EPS. The company’s revenue for the quarter was down 11.3% on a year-over-year basis. Analysts forecast that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Stockholders of record on Friday, June 6th will be issued a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date is Friday, June 6th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 37.83%.

Hedge Funds Weigh In On Molson Coors Beverage

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Intech Investment Management LLC increased its holdings in shares of Molson Coors Beverage by 107.5% in the first quarter. Intech Investment Management LLC now owns 64,636 shares of the company’s stock valued at $3,934,000 after purchasing an additional 33,482 shares during the period. Plato Investment Management Ltd acquired a new position in Molson Coors Beverage in the 1st quarter worth approximately $1,380,000. Advisory Alpha LLC purchased a new position in Molson Coors Beverage during the 1st quarter worth approximately $210,000. Bayforest Capital Ltd lifted its stake in Molson Coors Beverage by 735.5% during the 1st quarter. Bayforest Capital Ltd now owns 1,153 shares of the company’s stock valued at $70,000 after acquiring an additional 1,015 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Molson Coors Beverage by 5.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,200,243 shares of the company’s stock valued at $73,059,000 after acquiring an additional 58,853 shares during the period. 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.