Molson Coors Beverage Company (NYSE:TAP) Receives $53.18 Average Target Price from Brokerages

Shares of Molson Coors Beverage Company (NYSE:TAP) have earned an average rating of “Hold” from the eighteen research firms that are covering the stock, Marketbeat reports. Three equities research analysts have rated the stock with a sell recommendation, ten have given a hold recommendation and five have assigned a buy recommendation to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $53.1813.

A number of equities research analysts recently weighed in on TAP shares. JPMorgan Chase & Co. assumed coverage on shares of Molson Coors Beverage in a research report on Wednesday, November 5th. They issued a “neutral” rating and a $49.00 price target for the company. Piper Sandler cut their target price on Molson Coors Beverage from $52.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, November 21st. Barclays reissued an “underweight” rating and issued a $49.00 target price on shares of Molson Coors Beverage in a report on Friday, January 16th. Roth Mkm restated a “buy” rating and set a $65.00 price target (down previously from $67.00) on shares of Molson Coors Beverage in a research note on Wednesday, November 5th. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Molson Coors Beverage in a research report on Monday, December 29th.

Molson Coors Beverage Price Performance

TAP stock opened at $53.12 on Friday. The business has a 50 day moving average price of $48.50 and a 200 day moving average price of $47.79. The company has a quick ratio of 0.45, a current ratio of 0.60 and a debt-to-equity ratio of 0.37. The stock has a market cap of $10.50 billion, a price-to-earnings ratio of -4.97 and a beta of 0.48. Molson Coors Beverage has a fifty-two week low of $42.94 and a fifty-two week high of $64.66.

Molson Coors Beverage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 19th. Investors of record on Friday, December 5th were paid a dividend of $0.47 per share. The ex-dividend date was Friday, December 5th. This represents a $1.88 dividend on an annualized basis and a yield of 3.5%. Molson Coors Beverage’s dividend payout ratio is currently -17.60%.

Hedge Funds Weigh In On Molson Coors Beverage

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. raised its stake in Molson Coors Beverage by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 21,208,854 shares of the company’s stock valued at $1,019,934,000 after acquiring an additional 92,058 shares during the last quarter. Dodge & Cox raised its stake in shares of Molson Coors Beverage by 29.4% during the third quarter. Dodge & Cox now owns 18,631,224 shares of the company’s stock worth $843,063,000 after purchasing an additional 4,235,029 shares during the last quarter. State Street Corp lifted its holdings in shares of Molson Coors Beverage by 19.2% during the third quarter. State Street Corp now owns 10,516,810 shares of the company’s stock worth $475,886,000 after purchasing an additional 1,693,682 shares during the period. Dimensional Fund Advisors LP grew its position in Molson Coors Beverage by 17.9% in the 4th quarter. Dimensional Fund Advisors LP now owns 7,572,843 shares of the company’s stock valued at $353,502,000 after buying an additional 1,147,800 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in Molson Coors Beverage by 1.4% in the 2nd quarter. Geode Capital Management LLC now owns 4,486,791 shares of the company’s stock valued at $214,860,000 after buying an additional 61,060 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

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.