Analysts Set Molson Coors Beverage Company (NYSE:TAP) PT at $44.76

Shares of Molson Coors Beverage Company (NYSE:TAP) have received an average recommendation of “Hold” from the nineteen brokerages that are currently covering the stock, MarketBeat reports. Four research analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $44.0588.

A number of research firms recently commented on TAP. Evercore dropped their price target on Molson Coors Beverage from $50.00 to $47.00 and set an “outperform” rating for the company in a research note on Tuesday, April 21st. Zacks Research raised Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Wells Fargo & Company dropped their price objective on Molson Coors Beverage from $43.00 to $41.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 8th. Morgan Stanley decreased their price objective on shares of Molson Coors Beverage from $52.00 to $46.00 and set an “equal weight” rating on the stock in a research report on Monday, May 4th. Finally, Wall Street Zen cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Sunday, May 17th.

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 dated Thursday, May 21st. The stock was sold at an average price of $42.50, for a total transaction of $52,912.50. Following the completion of the sale, the director owned 9,871 shares of the company’s stock, valued at approximately $419,517.50. The trade was a 11.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 2.27% of the company’s stock.

Institutional Investors Weigh In On Molson Coors Beverage

Several hedge funds and other institutional investors have recently made changes to their positions in TAP. GoalVest Advisory LLC purchased a new stake in shares of Molson Coors Beverage during the fourth quarter worth approximately $25,000. SBI Securities Co. Ltd. increased its stake in shares of Molson Coors Beverage by 84.1% during the 4th quarter. SBI Securities Co. Ltd. now owns 534 shares of the company’s stock worth $25,000 after purchasing an additional 244 shares in the last quarter. Basepoint Wealth LLC purchased a new stake in shares of Molson Coors Beverage in the fourth quarter valued at $26,000. Smartleaf Asset Management LLC increased its stake in shares of Molson Coors Beverage by 64.2% during the 2nd quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock valued at $27,000 after acquiring an additional 221 shares during the last quarter. Finally, Larson Financial Group LLC grew its position 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 acquiring an additional 518 shares during the period. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Price Performance

NYSE TAP opened at $40.93 on Monday. Molson Coors Beverage has a twelve month low of $38.04 and a twelve month high of $54.82. The stock has a market capitalization of $7.68 billion, a PE ratio of -3.85 and a beta of 0.42. The stock has a 50-day simple moving average of $40.29 and a 200 day simple moving average of $44.28. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.38 and a current ratio of 0.54.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Friday, May 1st. The company reported $0.62 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $2.33 billion. During the same period in the previous year, the business posted $0.50 earnings per share. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. Research analysts anticipate that Molson Coors Beverage will post 4.8 EPS for the current year.

Molson Coors Beverage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 18th. Investors of record on Friday, August 28th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, August 28th. This represents a $1.92 dividend on an annualized basis and a yield of 4.7%. 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.