Molson Coors Beverage Company (NYSE:TAP) Receives Average Rating of "Hold" from Brokerages

Key Points

• Molson Coors Beverage currently has a consensus analyst rating of Hold, based on coverage from 19 analysts. The average 12-month price target is about $45.59.
• The company reported better-than-expected first-quarter results, with EPS of $0.62 versus estimates of $0.36 and revenue of $2.35 billion, up 2% year over year. Analysts now expect full-year EPS of 4.74.
• Molson Coors also announced a quarterly dividend of $0.48 per share, equal to an annualized yield of about 4.5%. The dividend will be paid on June 12 to shareholders of record on May 29.

Molson Coors Beverage Company (NYSE:TAP - Get Free Report) has been assigned an average recommendation of "Hold" from the nineteen analysts that are presently covering the company, MarketBeat.com reports. Four investment analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and four have assigned a buy recommendation to the company. The average 1 year target price among analysts that have issued a report on the stock in the last year is $45.5882.

A number of research analysts recently issued reports on TAP shares. The Goldman Sachs Group boosted their target price on shares of Molson Coors Beverage from $48.00 to $50.00 in a research report on Friday, May 1st. Needham & Company LLC dropped their target price on shares of Molson Coors Beverage from $52.00 to $50.00 and set a "buy" rating on the stock in a research report on Friday, May 1st. Bank of America downgraded shares of Molson Coors Beverage from a "neutral" rating to an "underperform" rating and dropped their target price for the company from $50.00 to $42.00 in a research report on Wednesday, February 25th. Wells Fargo & Company dropped their target price on shares of Molson Coors Beverage from $45.00 to $43.00 and set an "equal weight" rating on the stock in a research report on Monday, May 18th. Finally, Weiss Ratings reiterated a "sell (d)" rating on shares of Molson Coors Beverage in a research report on Friday, March 27th.

Molson Coors Beverage Stock Down 0.0%

Shares of NYSE TAP opened at $42.52 on Friday. The company has a market capitalization of $7.97 billion, a P/E ratio of -4.00 and a beta of 0.44. Molson Coors Beverage has a 52-week low of $40.64 and a 52-week high of $54.82. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.38 and a current ratio of 0.54. The company's 50 day moving average price is $42.85 and its 200-day moving average price is $46.06.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its quarterly earnings results on Friday, May 1st. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.26. Molson Coors Beverage had a negative net margin of 16.14% and a positive return on equity of 9.79%. The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter in the previous year, the company earned $0.50 EPS. The company's revenue for the quarter was up 2.0% on a year-over-year basis. Equities analysts forecast that Molson Coors Beverage will post 4.74 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 12th. Investors of record on Friday, May 29th will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Friday, May 29th. Molson Coors Beverage's payout ratio is presently -18.05%.

Insiders Place Their Bets

In other Molson Coors Beverage news, Director Andrew Thomas Molson purchased 2,000 shares of the firm's stock in a transaction on Monday, March 9th. The stock was acquired at an average price of $46.67 per share, for a total transaction of $93,340.00. Following the purchase, the director owned 24,654 shares of the company's stock, valued at $1,150,602.18. This trade represents a 8.83% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Geoffrey E. Molson sold 1,245 shares of the business's stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $42.50, for a total transaction of $52,912.50. Following the sale, the director owned 9,871 shares of the company's stock, valued at $419,517.50. This trade represents a 11.20% decrease in their position. The SEC filing for this sale provides additional information. 2.27% of the stock is owned by insiders.

Institutional Trading of Molson Coors Beverage

A number of hedge funds and other institutional investors have recently bought and sold shares of TAP. GoalVest Advisory LLC bought a new stake in shares of Molson Coors Beverage in the 4th quarter worth $25,000. SBI Securities Co. Ltd. grew its stake in shares of Molson Coors Beverage by 84.1% in the 4th quarter. SBI Securities Co. Ltd. now owns 534 shares of the company's stock worth $25,000 after acquiring an additional 244 shares in the last quarter. Root Financial Partners LLC bought a new stake in shares of Molson Coors Beverage in the 3rd quarter worth $25,000. Basepoint Wealth LLC purchased a new position in shares of Molson Coors Beverage in the 4th quarter worth about $26,000. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Molson Coors Beverage by 64.2% in 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 during the last quarter. Institutional investors own 78.46% of the company's stock.

About Molson Coors Beverage

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.

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