TD Cowen Trims Molson Coors Beverage (NYSE:TAP) Target Price to $56.00

Molson Coors Beverage (NYSE:TAP) had its target price decreased by TD Cowen from $58.00 to $56.00 in a research report sent to investors on Tuesday, MarketBeat Ratings reports. TD Cowen currently has a hold rating on the stock.

A number of other research analysts have also recently weighed in on TAP. UBS Group lifted their price objective on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the company a neutral rating in a report on Wednesday, August 7th. Wells Fargo & Company lifted their target price on shares of Molson Coors Beverage from $50.00 to $54.00 and gave the company an underweight rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lifted 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. Jefferies Financial Group dropped 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, Barclays lifted 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. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and an average price target of $59.21.

Molson Coors Beverage Trading Up 0.1 %

Shares of Molson Coors Beverage stock opened at $54.39 on Tuesday. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.75. The firm has a fifty day moving average price of $54.46 and a 200 day moving average price of $55.94. The stock has a market cap of $11.27 billion, a PE ratio of 9.96, a price-to-earnings-growth ratio of 2.35 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Tuesday, August 6th. The company reported $1.92 earnings per share for the quarter, beating 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 company had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same quarter in the previous year, the company earned $1.78 earnings per share. The firm’s revenue for the quarter was down .4% on a year-over-year basis. Equities research analysts predict that Molson Coors Beverage will post 5.74 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 20th. Shareholders of record on Friday, August 30th were paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a yield of 3.24%. The ex-dividend date was Friday, August 30th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 32.23%.

Hedge Funds Weigh In On Molson Coors Beverage

A number of institutional investors have recently bought and sold shares of TAP. Pacer Advisors Inc. raised its stake in Molson Coors Beverage by 66.5% during the second quarter. Pacer Advisors Inc. now owns 5,397,223 shares of the company’s stock worth $274,341,000 after purchasing an additional 2,155,842 shares during the period. Capital International Investors raised its stake in Molson Coors Beverage by 10.7% during the first quarter. Capital International Investors now owns 9,692,916 shares of the company’s stock worth $651,849,000 after purchasing an additional 939,142 shares during the period. Ilex Capital Partners UK LLP purchased a new position in Molson Coors Beverage during the first quarter worth about $53,096,000. Millennium Management LLC raised its stake in Molson Coors Beverage by 541.4% during the second quarter. Millennium Management LLC now owns 765,150 shares of the company’s stock worth $38,893,000 after purchasing an additional 645,847 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Molson Coors Beverage by 20.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,579,811 shares of the company’s stock worth $131,130,000 after purchasing an additional 434,685 shares during the period. 78.46% of the stock is owned by hedge funds and other institutional investors.

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.