Molson Coors Beverage (NYSE:TAP) Cut to “Hold” at StockNews.com

StockNews.com lowered shares of Molson Coors Beverage (NYSE:TAP) from a buy rating to a hold rating in a research note released on Friday morning.

Other research analysts also recently issued research reports about the stock. Needham & Company LLC restated a “buy” rating and issued a $72.00 price target on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. Citigroup upgraded shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and boosted their target price for the company from $47.00 to $57.00 in a research report on Wednesday, February 5th. Barclays boosted their target price on shares of Molson Coors Beverage from $48.00 to $56.00 and gave the company an “underweight” rating in a research report on Tuesday, February 18th. UBS Group boosted their target price on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a research report on Friday, February 14th. Finally, BNP Paribas assumed coverage on shares of Molson Coors Beverage in a research report on Monday, November 25th. They set a “neutral” rating and a $64.00 target price on the stock. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $63.27.

Molson Coors Beverage Stock Down 0.2 %

Shares of NYSE TAP opened at $60.29 on Friday. The company has a market capitalization of $12.42 billion, a P/E ratio of 11.27, a price-to-earnings-growth ratio of 1.52 and a beta of 0.85. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. The company’s 50 day moving average price is $56.41 and its 200-day moving average price is $56.63.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.13. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. Equities analysts forecast that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Thursday, February 27th will be issued a dividend of $0.47 per share. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. The ex-dividend date is Thursday, February 27th. This represents a $1.88 annualized dividend and a yield of 3.12%. Molson Coors Beverage’s dividend payout ratio is presently 35.14%.

Institutional Trading of Molson Coors Beverage

Several institutional investors have recently made changes to their positions in TAP. Truvestments Capital LLC grew its stake in shares of Molson Coors Beverage by 51.4% in the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock worth $34,000 after acquiring an additional 202 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in shares of Molson Coors Beverage in the 3rd quarter worth $35,000. CoreCap Advisors LLC grew its stake in shares of Molson Coors Beverage by 10,716.7% in the 4th quarter. CoreCap Advisors LLC now owns 649 shares of the company’s stock worth $37,000 after acquiring an additional 643 shares in the last quarter. Quarry LP grew its stake in shares of Molson Coors Beverage by 55.1% in the 4th quarter. Quarry LP now owns 715 shares of the company’s stock worth $41,000 after acquiring an additional 254 shares in the last quarter. Finally, Gladius Capital Management LP bought a new stake in shares of Molson Coors Beverage in the 3rd quarter worth $42,000. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Company Profile

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.