Molson Coors Beverage (NYSE:TAP) Trading Up 3.7%

Molson Coors Beverage (NYSE:TAP) was up 3.7% during mid-day trading on Tuesday . The stock traded as high as $55.99 and last traded at $55.94. Approximately 944,191 shares were traded during trading, a decline of 50% from the average daily volume of 1,907,051 shares. The stock had previously closed at $53.97.

Analyst Ratings Changes

Several analysts recently issued reports on TAP shares. UBS Group increased their price target on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Barclays raised their target price on shares of Molson Coors Beverage from $47.00 to $49.00 and gave the company an “underweight” rating in a research report on Thursday, August 8th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a research report on Wednesday, August 7th. Jefferies Financial Group cut their target price on shares of Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating on the stock in a research report on Thursday, July 18th. Finally, JPMorgan Chase & Co. raised their target price on shares of Molson Coors Beverage from $54.00 to $57.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $60.53.

Molson Coors Beverage Price Performance

The business’s 50 day moving average is $52.45 and its two-hundred day moving average is $57.57. The firm has a market cap of $12.02 billion, a P/E ratio of 10.79, a P/E/G ratio of 2.34 and a beta of 0.81. The company has a quick ratio of 0.75, a current ratio of 0.95 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Tuesday, August 6th. The company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.68 by $0.24. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. The business had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.18 billion. During the same quarter last year, the firm earned $1.78 earnings per share. Molson Coors Beverage’s quarterly revenue was down .4% on a year-over-year basis. As a group, analysts anticipate that Molson Coors Beverage will post 5.75 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 30th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date is Friday, August 30th. Molson Coors Beverage’s dividend payout ratio is presently 35.20%.

Hedge Funds Weigh In On Molson Coors Beverage

A number of hedge funds have recently bought and sold shares of TAP. International Assets Investment Management LLC increased its stake in Molson Coors Beverage by 6,418.1% in the fourth quarter. International Assets Investment Management LLC now owns 151,416 shares of the company’s stock valued at $9,268,000 after purchasing an additional 149,093 shares in the last quarter. Van ECK Associates Corp grew its holdings in shares of Molson Coors Beverage by 3.7% during the fourth quarter. Van ECK Associates Corp now owns 9,064 shares of the company’s stock valued at $555,000 after buying an additional 323 shares during the last quarter. Kestra Private Wealth Services LLC grew its holdings in shares of Molson Coors Beverage by 1.5% during the fourth quarter. Kestra Private Wealth Services LLC now owns 11,589 shares of the company’s stock valued at $709,000 after buying an additional 174 shares during the last quarter. Benjamin F. Edwards & Company Inc. grew its holdings in shares of Molson Coors Beverage by 485.8% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 5,266 shares of the company’s stock valued at $322,000 after buying an additional 4,367 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC acquired a new position in shares of Molson Coors Beverage during the fourth quarter valued at about $1,160,000. Institutional investors own 78.46% of the company’s stock.

About Molson Coors Beverage

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.