Molson Coors Beverage Company (NYSE:TAP) Given Consensus Rating of “Hold” by Brokerages

Shares of Molson Coors Beverage Company (NYSE:TAP) have earned an average rating of “Hold” from the seventeen ratings firms that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, ten have assigned a hold recommendation and five have issued a buy recommendation on the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $53.5933.

TAP has been the subject of a number of analyst reports. Barclays lowered their price objective on Molson Coors Beverage from $46.00 to $45.00 and set an “underweight” rating for the company in a research report on Thursday, November 6th. Needham & Company LLC lowered their price target on shares of Molson Coors Beverage from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday, November 3rd. Roth Capital reissued a “buy” rating and issued a $65.00 price objective (down from $67.00) on shares of Molson Coors Beverage in a research report on Wednesday, November 5th. The Goldman Sachs Group decreased their price objective on shares of Molson Coors Beverage from $67.00 to $57.00 and set a “buy” rating for the company in a research report on Thursday, October 2nd. Finally, Zacks Research upgraded shares of Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a research note on Friday, November 14th.

Molson Coors Beverage Stock Performance

NYSE:TAP opened at $46.57 on Friday. Molson Coors Beverage has a 52 week low of $42.94 and a 52 week high of $64.66. The company has a fifty day simple moving average of $45.72 and a two-hundred day simple moving average of $48.93. The company has a quick ratio of 0.67, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. The company has a market cap of $9.20 billion, a price-to-earnings ratio of 9.18, a price-to-earnings-growth ratio of 1.60 and a beta of 0.65.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $1.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.05). Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. The company had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.02 billion. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. As a group, equities analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 19th. Stockholders of record on Friday, December 5th will be given a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend is Friday, December 5th. Molson Coors Beverage’s dividend payout ratio (DPR) is -17.60%.

Insider Activity at Molson Coors Beverage

In related news, Director David S. Coors acquired 2,245 shares of Molson Coors Beverage stock in a transaction dated Wednesday, November 5th. The stock was acquired at an average price of $44.47 per share, for a total transaction of $99,835.15. Following the transaction, the director owned 30,586 shares of the company’s stock, valued at $1,360,159.42. This represents a 7.92% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrew Thomas Molson bought 7,500 shares of the stock in a transaction dated Monday, November 10th. The stock was bought at an average price of $46.79 per share, with a total value of $350,925.00. Following the acquisition, the director owned 22,654 shares in the company, valued at approximately $1,059,980.66. This represents a 49.49% increase in their position. The disclosure for this purchase is available in the SEC filing. 2.71% of the stock is owned by insiders.

Hedge Funds Weigh In On Molson Coors Beverage

Several large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. grew its holdings in shares of Molson Coors Beverage by 58.3% during the third quarter. JPMorgan Chase & Co. now owns 1,639,745 shares of the company’s stock worth $74,200,000 after purchasing an additional 603,635 shares during the last quarter. CIBC Bancorp USA Inc. acquired a new stake in shares of Molson Coors Beverage in the 3rd quarter valued at about $2,845,000. Alpine Global Management LLC purchased a new position in Molson Coors Beverage during the 3rd quarter worth approximately $371,000. Achmea Investment Management B.V. increased its position in Molson Coors Beverage by 5.0% during the third quarter. Achmea Investment Management B.V. now owns 16,081 shares of the company’s stock worth $727,000 after buying an additional 769 shares during the period. Finally, Danske Bank A S purchased a new stake in Molson Coors Beverage in the third quarter valued at approximately $6,544,000. 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.