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

Molson Coors Beverage Company (NYSE:TAP) has received an average rating of “Hold” from the nineteen research firms that are presently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $44.8824.

TAP has been the topic of a number of recent research reports. Wells Fargo & Company decreased their target price on Molson Coors Beverage from $45.00 to $43.00 and set an “equal weight” rating on the stock in a research report on Monday, May 18th. Zacks Research raised Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $42.00 target price on shares of Molson Coors Beverage in a research report on Friday, May 1st. Sanford C. Bernstein decreased their target price on Molson Coors Beverage from $74.00 to $45.00 and set a “market perform” rating on the stock in a research report on Tuesday, May 26th. Finally, UBS Group decreased their target price on Molson Coors Beverage from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th.

Molson Coors Beverage Stock Up 0.5%

TAP stock opened at $39.60 on Thursday. 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 $7.43 billion, a PE ratio of -3.72 and a beta of 0.41. The business’s 50-day simple moving average is $41.64 and its 200 day simple moving average is $45.20. The company has a quick ratio of 0.38, a current ratio of 0.54 and a debt-to-equity ratio of 0.38.

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

Molson Coors Beverage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend was Friday, May 29th. Molson Coors Beverage’s payout ratio is presently -18.05%.

Insiders Place Their Bets

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,245 shares of Molson Coors Beverage stock in a transaction that occurred on Thursday, May 21st. The stock was sold at an average price of $42.50, for a total transaction of $52,912.50. Following the sale, the director directly owned 9,871 shares of the company’s stock, valued at approximately $419,517.50. The trade was a 11.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.27% of the company’s stock.

Institutional Investors Weigh In On Molson Coors Beverage

Institutional investors have recently added to or reduced their stakes in the stock. GoalVest Advisory LLC acquired a new stake in Molson Coors Beverage during the fourth quarter valued at approximately $25,000. SBI Securities Co. Ltd. boosted its holdings in Molson Coors Beverage by 84.1% during the fourth quarter. SBI Securities Co. Ltd. now owns 534 shares of the company’s stock valued at $25,000 after purchasing an additional 244 shares in the last quarter. Basepoint Wealth LLC acquired a new stake in Molson Coors Beverage during the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC boosted its holdings in Molson Coors Beverage by 64.2% during the second quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock valued at $27,000 after purchasing an additional 221 shares in the last quarter. Finally, Larson Financial Group LLC boosted its holdings in Molson Coors Beverage by 551.1% during the fourth quarter. Larson Financial Group LLC now owns 612 shares of the company’s stock valued at $29,000 after purchasing an additional 518 shares in the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

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.