Analysts Set Molson Coors Beverage (NYSE:TAP) Target Price at $63.26

Molson Coors Beverage (NYSE:TAP) has earned a consensus rating of “Hold” from the fifteen ratings firms that are presently covering the firm, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $63.26.

A number of equities analysts recently weighed in on the stock. Berenberg Bank began coverage on shares of Molson Coors Beverage in a report on Wednesday, April 2nd. They set a “buy” rating and a $86.90 target price on the stock. UBS Group reduced their price objective on shares of Molson Coors Beverage from $63.00 to $59.00 and set a “neutral” rating for the company in a research report on Friday, May 9th. Wall Street Zen cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Saturday, May 17th. Roth Capital set a $71.00 price objective on shares of Molson Coors Beverage and gave the stock a “buy” rating in a research report on Tuesday, May 20th. Finally, Needham & Company LLC reduced their price objective on shares of Molson Coors Beverage from $72.00 to $65.00 and set a “buy” rating for the company in a research report on Monday, May 12th.

Molson Coors Beverage Price Performance

Shares of TAP opened at $52.20 on Friday. The company has a market cap of $10.55 billion, a price-to-earnings ratio of 9.76, a PEG ratio of 1.52 and a beta of 0.72. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $64.66. The company’s fifty day simple moving average is $56.48 and its 200 day simple moving average is $57.75. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46.

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

Molson Coors Beverage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be given a dividend of $0.47 per share. The ex-dividend date is Friday, June 6th. This represents a $1.88 annualized dividend and a yield of 3.60%. Molson Coors Beverage’s dividend payout ratio is 37.83%.

Insider Transactions at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,333 shares of the company’s stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $56.29, for a total value of $75,034.57. Following the completion of the transaction, the director now owns 27,595 shares of the company’s stock, valued at $1,553,322.55. This represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 2.71% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Golden State Wealth Management LLC increased its stake in shares of Molson Coors Beverage by 230.2% in the first quarter. Golden State Wealth Management LLC now owns 416 shares of the company’s stock valued at $25,000 after buying an additional 290 shares during the period. Millstone Evans Group LLC increased its position in Molson Coors Beverage by 151.8% during the 1st quarter. Millstone Evans Group LLC now owns 423 shares of the company’s stock valued at $26,000 after purchasing an additional 255 shares during the period. Elequin Capital LP acquired a new stake in Molson Coors Beverage during the 1st quarter valued at approximately $30,000. Financial Management Professionals Inc. increased its position in Molson Coors Beverage by 3,286.7% during the 1st quarter. Financial Management Professionals Inc. now owns 508 shares of the company’s stock valued at $31,000 after purchasing an additional 493 shares during the period. Finally, Eastern Bank acquired a new stake in Molson Coors Beverage during the 1st quarter valued at approximately $33,000. Institutional investors and hedge funds 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.