Molson Coors Beverage Company (NYSE:TAP - Get Free Report) has been assigned an average recommendation of "Hold" from the fifteen research firms that are covering the firm, MarketBeat.com reports. Eleven equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokers that have covered the stock in the last year is $60.46.
Several equities analysts have recently issued reports on the stock. Bank of America downgraded shares of Molson Coors Beverage from a "buy" rating to a "neutral" rating and cut their price objective for the company from $65.00 to $50.00 in a report on Friday, June 27th. Needham & Company LLC cut their price target on shares of Molson Coors Beverage from $72.00 to $65.00 and set a "buy" rating on the stock in a research note on Monday, May 12th. Wells Fargo & Company lowered their price objective on shares of Molson Coors Beverage from $65.00 to $58.00 and set an "overweight" rating for the company in a research note on Wednesday, June 25th. UBS Group cut their target price on Molson Coors Beverage from $63.00 to $59.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Finally, Berenberg Bank assumed coverage on Molson Coors Beverage in a research note on Wednesday, April 2nd. They issued a "buy" rating and a $86.90 target price for the company.
Read Our Latest Research Report on Molson Coors Beverage
Insider Activity at Molson Coors Beverage
In other news, Director Geoffrey E. Molson sold 1,333 shares of Molson Coors Beverage stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $56.29, for a total transaction of $75,034.57. Following the completion of the transaction, the director directly owned 27,595 shares of the company's stock, valued at $1,553,322.55. The trade was a 4.61% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.71% of the stock is owned by insiders.
Institutional Trading of Molson Coors Beverage
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Proficio Capital Partners LLC purchased a new position in shares of Molson Coors Beverage in the 4th quarter valued at about $1,991,000. Private Trust Co. NA grew its holdings in Molson Coors Beverage by 53.1% in the fourth quarter. Private Trust Co. NA now owns 796 shares of the company's stock valued at $46,000 after purchasing an additional 276 shares during the period. US Bancorp DE increased its position in shares of Molson Coors Beverage by 103.9% in the fourth quarter. US Bancorp DE now owns 19,285 shares of the company's stock valued at $1,106,000 after buying an additional 9,825 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Molson Coors Beverage by 463.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 2,593 shares of the company's stock worth $147,000 after buying an additional 2,133 shares during the period. Finally, SRS Capital Advisors Inc. lifted its position in shares of Molson Coors Beverage by 38.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company's stock valued at $42,000 after buying an additional 203 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company's stock.
Molson Coors Beverage Stock Down 0.4%
TAP traded down $0.18 during trading on Thursday, hitting $49.37. The stock had a trading volume of 1,466,374 shares, compared to its average volume of 2,144,451. The stock has a 50 day simple moving average of $53.11 and a two-hundred day simple moving average of $56.40. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.59 and a current ratio of 0.89. Molson Coors Beverage has a twelve month low of $46.94 and a twelve month high of $64.66. The company has a market capitalization of $9.98 billion, a PE ratio of 9.93, a PEG ratio of 2.70 and a beta of 0.69.
Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings data on Thursday, May 8th. The company reported $0.50 earnings per share for the quarter, missing analysts' consensus estimates of $0.80 by ($0.30). Molson Coors Beverage had a return on equity of 8.59% and a net margin of 7.74%. The business had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same period in the previous year, the business earned $0.95 EPS. The firm's revenue for the quarter was down 11.3% compared to the same quarter last year. On average, research analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current year.
Molson Coors Beverage Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were issued a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date was Friday, June 6th. Molson Coors Beverage's payout ratio is presently 37.83%.
Molson Coors Beverage Company Profile
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Get Free ReportMolson 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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