Molson Coors Beverage Company (NYSE:TAP) Receives Average Rating of “Hold” from Brokerages

Molson Coors Beverage Company (NYSE:TAP) has been assigned an average rating of “Hold” from the nineteen research firms that are presently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $44.7647.

TAP has been the topic of several research reports. Evercore cut their target price on Molson Coors Beverage from $50.00 to $47.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 21st. Barclays lowered their price target on Molson Coors Beverage from $43.00 to $41.00 and set an “underweight” rating for the company in a research report on Friday, May 1st. Sanford C. Bernstein dropped their price target on Molson Coors Beverage from $74.00 to $45.00 and set a “market perform” rating on the stock in a research note on Tuesday, May 26th. Zacks Research raised Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Finally, Needham & Company LLC cut their price objective on Molson Coors Beverage from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, May 1st.

Molson Coors Beverage Stock Down 0.3%

NYSE:TAP opened at $39.05 on Monday. The company has a current ratio of 0.54, a quick ratio of 0.38 and a debt-to-equity ratio of 0.38. Molson Coors Beverage has a twelve month low of $38.04 and a twelve month high of $54.82. The company has a market cap of $7.32 billion, a PE ratio of -3.67 and a beta of 0.42. The company’s 50 day moving average is $40.53 and its two-hundred day moving average is $44.48.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.26. Molson Coors Beverage had a negative net margin of 16.14% and a positive return on equity of 9.79%. The business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.33 billion. During the same quarter last year, the company posted $0.50 earnings per share. The business’s quarterly revenue was up 2.0% on a year-over-year basis. Analysts anticipate that Molson Coors Beverage will post 4.8 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 29th were given a $0.48 dividend. The ex-dividend date was Friday, May 29th. This represents a $1.92 dividend on an annualized basis and a yield of 4.9%. Molson Coors Beverage’s dividend payout ratio is currently -18.05%.

Insiders Place Their Bets

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,245 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $42.50, for a total transaction of $52,912.50. Following the completion of the transaction, the director directly owned 9,871 shares of the company’s stock, valued at approximately $419,517.50. This trade represents a 11.20% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.27% of the company’s stock.

Institutional Trading of Molson Coors Beverage

Several large investors have recently made changes to their positions in the business. State Street Corp raised its holdings in shares of Molson Coors Beverage by 19.2% during the third quarter. State Street Corp now owns 10,516,810 shares of the company’s stock worth $475,886,000 after purchasing an additional 1,693,682 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in Molson Coors Beverage by 10.4% during the first quarter. Dimensional Fund Advisors LP now owns 8,363,157 shares of the company’s stock valued at $360,117,000 after purchasing an additional 790,314 shares during the period. Invesco Ltd. boosted its holdings in Molson Coors Beverage by 1.2% in the fourth quarter. Invesco Ltd. now owns 4,485,000 shares of the company’s stock valued at $209,360,000 after purchasing an additional 54,456 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in Molson Coors Beverage by 16.4% in the first quarter. Bank of New York Mellon Corp now owns 3,326,427 shares of the company’s stock valued at $143,236,000 after purchasing an additional 469,607 shares during the last quarter. Finally, Goldman Sachs Group Inc. grew its position in Molson Coors Beverage by 265.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,922,022 shares of the company’s stock worth $136,400,000 after purchasing an additional 2,122,085 shares during the period. 78.46% of the stock is owned by hedge funds and other institutional investors.

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.