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

Key Points

• Molson Coors Beverage Company has received an average recommendation of "Hold" from 17 brokerages, with one sell, ten hold, and six buy ratings.
• The company's stock price has a current market cap of $9.10 billion and the average 12-month price objective from analysts is approximately $56.62.
• Recently, Molson Coors declared a quarterly dividend of $0.47 per share, representing a yield of 4.1%, with a payout ratio of 37.08%.

Shares of Molson Coors Beverage Company (NYSE:TAP - Get Free Report) have been assigned an average recommendation of "Hold" from the seventeen brokerages that are covering the company, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, ten have given a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $56.6188.

Several equities research analysts recently commented on the stock. Jefferies Financial Group cut their price objective on shares of Molson Coors Beverage from $52.00 to $50.00 and set a "hold" rating on the stock in a research report on Tuesday, September 30th. Evercore ISI lowered their price target on shares of Molson Coors Beverage from $58.00 to $53.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 6th. Bank of America lowered shares of Molson Coors Beverage from a "buy" rating to a "neutral" rating and lowered their price target for the company from $65.00 to $50.00 in a research note on Friday, June 27th. Needham & Company LLC lowered their price target on shares of Molson Coors Beverage from $65.00 to $58.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. Finally, Sanford C. Bernstein lowered their price target on shares of Molson Coors Beverage from $65.00 to $55.00 and set a "market perform" rating on the stock in a research note on Wednesday, July 9th.

Molson Coors Beverage Trading Down 0.0%

Shares of NYSE TAP opened at $46.00 on Friday. The stock has a market cap of $9.10 billion, a price-to-earnings ratio of 9.07, a P/E/G ratio of 1.68 and a beta of 0.63. Molson Coors Beverage has a twelve month low of $43.80 and a twelve month high of $64.66. The company's fifty day moving average is $48.63 and its 200-day moving average is $52.17. The company has a quick ratio of 0.67, a current ratio of 0.95 and a debt-to-equity ratio of 0.46.

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

Molson Coors Beverage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 4.1%. The ex-dividend date was Friday, September 5th. Molson Coors Beverage's payout ratio is presently 37.08%.

Institutional Investors Weigh In On Molson Coors Beverage

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. increased its stake in shares of Molson Coors Beverage by 14.7% during the 1st quarter. Principal Financial Group Inc. now owns 238,178 shares of the company's stock worth $14,498,000 after purchasing an additional 30,463 shares during the last quarter. Nuveen LLC acquired a new position in shares of Molson Coors Beverage during the 1st quarter worth about $22,253,000. Kendall Capital Management increased its stake in shares of Molson Coors Beverage by 42.7% during the 1st quarter. Kendall Capital Management now owns 19,995 shares of the company's stock worth $1,217,000 after purchasing an additional 5,985 shares during the last quarter. Jump Financial LLC increased its stake in shares of Molson Coors Beverage by 205.4% during the 1st quarter. Jump Financial LLC now owns 24,307 shares of the company's stock worth $1,480,000 after purchasing an additional 16,349 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Molson Coors Beverage by 7.7% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,330 shares of the company's stock worth $1,352,000 after purchasing an additional 1,606 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

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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