Molson Coors Beverage Company (NYSE:TAP) Given Average Rating of "Hold" by Brokerages

Key Points

• Molson Coors Beverage Company has received a consensus rating of "Hold" from sixteen analysts, with ten holding and six giving a buy rating; the average target price is $58.12.
• Recent dividend announcement indicates a quarterly payment of $0.47 per share, resulting in an annualized dividend yield of 3.6%.
• Shares of Molson Coors opened at $51.71 with a fifty-two week low of $46.94 and high of $64.66, showing a market capitalization of $10.46 billion.

Molson Coors Beverage Company (NYSE:TAP - Get Free Report) has been given a consensus rating of "Hold" by the sixteen analysts that are presently covering the firm, MarketBeat.com reports. Ten equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $58.1188.

Several equities analysts recently weighed in on TAP shares. Citigroup dropped their price target on shares of Molson Coors Beverage from $56.00 to $51.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 15th. Wall Street Zen cut shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th. Bank of America cut shares of Molson Coors Beverage from a "buy" rating to a "neutral" rating and dropped their price target for the company from $65.00 to $50.00 in a research report on Friday, June 27th. UBS Group dropped their price target on shares of Molson Coors Beverage from $53.00 to $52.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Finally, Roth Capital set a $71.00 price target on shares of Molson Coors Beverage and gave the company a "buy" rating in a research report on Tuesday, May 20th.

Hedge Funds Weigh In On Molson Coors Beverage

Hedge funds have recently modified their holdings of the company. Golden State Wealth Management LLC lifted its position in shares of Molson Coors Beverage by 230.2% during the 1st quarter. Golden State Wealth Management LLC now owns 416 shares of the company's stock worth $25,000 after buying an additional 290 shares in the last quarter. Millstone Evans Group LLC lifted its position in shares of Molson Coors Beverage by 151.8% during the 1st quarter. Millstone Evans Group LLC now owns 423 shares of the company's stock worth $26,000 after buying an additional 255 shares in the last quarter. Clearstead Trust LLC lifted its position in shares of Molson Coors Beverage by 952.8% during the 2nd quarter. Clearstead Trust LLC now owns 558 shares of the company's stock worth $27,000 after buying an additional 505 shares in the last quarter. Smartleaf Asset Management LLC lifted its position 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 worth $27,000 after buying an additional 221 shares in the last quarter. Finally, Elequin Capital LP bought a new position in shares of Molson Coors Beverage during the 1st quarter worth approximately $30,000. Institutional investors own 78.46% of the company's stock.

Molson Coors Beverage Price Performance

Shares of NYSE TAP opened at $51.7150 on Friday. Molson Coors Beverage has a fifty-two week low of $46.94 and a fifty-two week high of $64.66. The stock has a market cap of $10.46 billion, a price-to-earnings ratio of 10.20, a PEG ratio of 1.87 and a beta of 0.67. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.95. The firm's 50-day simple moving average is $49.75 and its 200 day simple moving average is $54.91.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.22. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. The business had revenue of $3.20 billion for the quarter, compared to analysts' expectations of $3.12 billion. During the same quarter last year, the firm earned $1.92 EPS. The firm's revenue for the quarter was down 1.6% compared to the same quarter last year. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. As a group, research analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be given a dividend of $0.47 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.88 annualized dividend and a dividend yield of 3.6%. Molson Coors Beverage's dividend payout ratio (DPR) is currently 37.08%.

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.

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