Molson Coors Beverage Company (NYSE:TAP) Given Average Recommendation of “Hold” by Analysts

Shares of Molson Coors Beverage Company (NYSE:TAP) have been assigned an average recommendation of “Hold” from the eighteen analysts that are currently covering the stock, MarketBeat.com reports. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $53.1813.

A number of analysts recently weighed in on TAP shares. UBS Group increased their price target on shares of Molson Coors Beverage from $47.00 to $50.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. Roth Mkm reiterated a “buy” rating and set a $65.00 target price (down previously from $67.00) on shares of Molson Coors Beverage in a research note on Wednesday, November 5th. Evercore reduced their price objective on Molson Coors Beverage from $53.00 to $50.00 and set an “outperform” rating for the company in a research note on Wednesday, November 5th. Piper Sandler lowered their target price on Molson Coors Beverage from $52.00 to $50.00 and set a “neutral” rating on the stock in a research note on Friday, November 21st. Finally, Jefferies Financial Group dropped their target price on Molson Coors Beverage from $51.00 to $48.00 and set a “hold” rating on the stock in a report on Tuesday, November 4th.

Institutional Trading of Molson Coors Beverage

A number of institutional investors have recently modified their holdings of TAP. Vanguard Group Inc. raised its position in Molson Coors Beverage by 0.4% in the second quarter. Vanguard Group Inc. now owns 21,208,854 shares of the company’s stock worth $1,019,934,000 after acquiring an additional 92,058 shares in the last quarter. Dodge & Cox increased its holdings in shares of Molson Coors Beverage by 29.4% in the 3rd quarter. Dodge & Cox now owns 18,631,224 shares of the company’s stock valued at $843,063,000 after purchasing an additional 4,235,029 shares in the last quarter. State Street Corp lifted its stake in shares of Molson Coors Beverage by 19.2% in the third quarter. State Street Corp now owns 10,516,810 shares of the company’s stock valued at $475,886,000 after purchasing an additional 1,693,682 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Molson Coors Beverage by 17.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 7,572,843 shares of the company’s stock worth $353,502,000 after buying an additional 1,147,800 shares in the last quarter. Finally, Geode Capital Management LLC grew its position in Molson Coors Beverage by 1.4% during the second quarter. Geode Capital Management LLC now owns 4,486,791 shares of the company’s stock worth $214,860,000 after buying an additional 61,060 shares during the period. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Molson Coors Beverage Trading Up 1.9%

NYSE:TAP opened at $54.27 on Friday. The company has a market capitalization of $10.72 billion, a PE ratio of -5.08 and a beta of 0.48. Molson Coors Beverage has a 52-week low of $42.94 and a 52-week high of $64.66. The stock’s 50 day moving average price is $48.34 and its 200 day moving average price is $47.80. The company has a quick ratio of 0.45, a current ratio of 0.60 and a debt-to-equity ratio of 0.37.

Molson Coors Beverage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were issued a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Friday, December 5th. Molson Coors Beverage’s dividend payout ratio is currently -17.60%.

About Molson Coors Beverage

Molson Coors Beverage Company is a leading multinational brewing and beverage enterprise formed through the 2005 merger of Canada’s Molson and the United States’ Coors. The company develops, markets and distributes an array of alcoholic and non-alcoholic beverages, focusing primarily on beer and ready-to-drink products. Its portfolio spans flagship brands such as Coors Light, Molson Canadian and Miller Lite, alongside craft-style offerings like Blue Moon and global imports including Carling and Staropramen.

In addition to its core beer business, Molson Coors has expanded into adjacent categories to capture evolving consumer tastes.