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

Molson Coors Beverage Company (NYSE:TAP) has earned a consensus rating of “Hold” from the nineteen research firms that are currently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $44.8824.

TAP has been the subject of several recent analyst reports. Jefferies Financial Group lowered their price target on Molson Coors Beverage from $43.00 to $41.00 in a research report on Friday, June 12th. TD Cowen lowered their price target on Molson Coors Beverage from $47.00 to $43.00 and set a “hold” rating for the company in a research report on Friday, February 20th. Sanford C. Bernstein lowered their price target on Molson Coors Beverage from $74.00 to $45.00 and set a “market perform” rating for the company in a research report on Tuesday, May 26th. Wells Fargo & Company lowered their price target on Molson Coors Beverage from $45.00 to $43.00 and set an “equal weight” rating for the company in a research report on Monday, May 18th. Finally, Evercore lowered their price target on Molson Coors Beverage from $50.00 to $47.00 and set an “outperform” rating for the company in a research report on Tuesday, April 21st.

Insider Buying and Selling

In related news, Director Geoffrey E. Molson sold 1,245 shares of Molson Coors Beverage stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $42.50, for a total value of $52,912.50. Following the completion of the sale, the director directly owned 9,871 shares in the company, 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 Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.27% of the company’s stock.

Institutional Investors Weigh In On Molson Coors Beverage

Several large investors have recently bought and sold shares of the business. Dodge & Cox increased its holdings in Molson Coors Beverage by 29.4% in the 3rd quarter. Dodge & Cox now owns 18,631,224 shares of the company’s stock worth $843,063,000 after buying an additional 4,235,029 shares in the last quarter. State Street Corp increased its holdings in Molson Coors Beverage by 19.2% in the 3rd quarter. State Street Corp now owns 10,516,810 shares of the company’s stock worth $475,886,000 after buying an additional 1,693,682 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Molson Coors Beverage by 10.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,363,157 shares of the company’s stock worth $360,117,000 after buying an additional 790,314 shares in the last quarter. Invesco Ltd. increased its holdings in Molson Coors Beverage by 1.2% in the 4th quarter. Invesco Ltd. now owns 4,485,000 shares of the company’s stock worth $209,360,000 after buying an additional 54,456 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in Molson Coors Beverage by 16.4% in the 1st quarter. Bank of New York Mellon Corp now owns 3,326,427 shares of the company’s stock worth $143,236,000 after buying an additional 469,607 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Price Performance

TAP opened at $38.95 on Thursday. The stock has a 50-day moving average price of $41.95 and a 200-day moving average price of $45.35. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.54 and a quick ratio of 0.38. The firm has a market cap of $7.30 billion, a PE ratio of -3.66 and a beta of 0.41. Molson Coors Beverage has a 1 year low of $38.04 and a 1 year high of $54.82.

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 the consensus estimate of $0.36 by $0.26. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.33 billion. Molson Coors Beverage had a positive return on equity of 9.79% and a negative net margin of 16.14%.Molson Coors Beverage’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.50 EPS. Sell-side analysts predict that Molson Coors Beverage will post 4.8 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 29th were issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 4.9%. The ex-dividend date was Friday, May 29th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently -18.05%.

Molson Coors Beverage Company Profile

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.