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

Key Points

• Molson Coors Beverage has an average analyst rating of “Hold” from 19 brokerages, with an average 12-month price target of about $44.88.
• The company beat earnings expectations in its latest quarter, reporting $0.62 EPS versus the $0.36 consensus, while revenue rose 2.0% year over year to $2.35 billion.
• Molson Coors recently paid a quarterly dividend of $0.48 per share, equal to an annualized yield of about 4.9% at current levels.

Shares of Molson Coors Beverage Company (NYSE:TAP - Get Free Report) have been assigned an average rating of "Hold" from the nineteen brokerages that are covering the firm, MarketBeat.com reports. Four research analysts have rated the stock with a sell recommendation, eleven have issued a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $44.8824.

TAP has been the subject of a number of research analyst reports. Zacks Research raised Molson Coors Beverage from a "strong sell" rating to a "hold" rating in a research note on Monday, April 13th. Piper Sandler dropped their price target on Molson Coors Beverage from $50.00 to $45.00 and set a "neutral" rating for the company in a research note on Thursday, February 19th. Bank of America lowered Molson Coors Beverage from a "neutral" rating to an "underperform" rating and dropped their price target for the stock from $50.00 to $42.00 in a research note on Wednesday, February 25th. JPMorgan Chase & Co. dropped their price target on Molson Coors Beverage from $45.00 to $43.00 and set a "neutral" rating for the company in a research note on Monday, April 27th. Finally, Roth Mkm set a $58.00 price objective on Molson Coors Beverage in a research report on Thursday, February 19th.

Molson Coors Beverage Stock Performance

Shares of TAP stock opened at $38.95 on Thursday. The stock has a fifty day moving average of $41.95 and a 200 day moving average of $45.35. Molson Coors Beverage has a 52 week low of $38.04 and a 52 week high of $54.82. The firm has a market capitalization of $7.30 billion, a price-to-earnings ratio of -3.66 and a beta of 0.41. The company has a quick ratio of 0.38, a current ratio of 0.54 and a debt-to-equity ratio of 0.38.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.62 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.26. Molson Coors Beverage had a positive return on equity of 9.79% and a negative net margin of 16.14%.The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same quarter last year, the firm posted $0.50 earnings per share. The firm's revenue was up 2.0% on a year-over-year basis. As a group, research analysts expect that Molson Coors Beverage will post 4.8 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Shareholders of record on Friday, May 29th were given a dividend of $0.48 per share. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.92 annualized dividend and a yield of 4.9%. Molson Coors Beverage's dividend payout ratio (DPR) is currently -18.05%.

Insider Buying and Selling

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,245 shares of the firm's stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $42.50, for a total transaction of $52,912.50. Following the completion of the transaction, the director owned 9,871 shares of the company's stock, valued at approximately $419,517.50. This trade represents a 11.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.27% of the company's stock.

Hedge Funds Weigh In On Molson Coors Beverage

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. lifted its position in Molson Coors Beverage by 32.9% during the first quarter. Geneos Wealth Management Inc. now owns 800 shares of the company's stock valued at $49,000 after buying an additional 198 shares during the period. UMB Bank n.a. lifted its position in Molson Coors Beverage by 16.5% during the fourth quarter. UMB Bank n.a. now owns 1,467 shares of the company's stock valued at $68,000 after buying an additional 208 shares during the period. New York Life Investment Management LLC lifted its position in Molson Coors Beverage by 0.9% during the fourth quarter. New York Life Investment Management LLC now owns 22,904 shares of the company's stock valued at $1,069,000 after buying an additional 210 shares during the period. Smartleaf Asset Management LLC lifted its position in Molson Coors Beverage by 64.2% during the second quarter. Smartleaf Asset Management LLC now owns 565 shares of the company's stock valued at $27,000 after buying an additional 221 shares during the period. Finally, SBI Securities Co. Ltd. lifted its position in Molson Coors Beverage by 84.1% during the fourth quarter. SBI Securities Co. Ltd. now owns 534 shares of the company's stock valued at $25,000 after buying an additional 244 shares during the period. 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.

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