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

Key Points

• Molson Coors Beverage has a consensus analyst rating of “Hold”, based on coverage from 19 brokerages. The average 12-month price target is about $44.76.
• Recent analyst moves have been mixed but generally cautious, with firms like Morgan Stanley and Wells Fargo cutting price targets while maintaining neutral-type ratings. Zacks Research upgraded the stock from “strong sell” to “hold.”
• The company reported better-than-expected quarterly results, including EPS of $0.62 versus an expected $0.36 and revenue of $2.35 billion. It also pays a quarterly dividend of $0.48 per share, implying a 4.9% yield.

Molson Coors Beverage Company (NYSE:TAP - Get Free Report) has been assigned an average recommendation of "Hold" from the nineteen brokerages that are presently covering the stock, MarketBeat Ratings reports. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $44.7647.

Several research analysts have recently commented on TAP shares. Morgan Stanley reduced their price target on Molson Coors Beverage from $52.00 to $46.00 and set an "equal weight" rating for the company in a research report on Monday, May 4th. Wells Fargo & Company dropped their price objective on Molson Coors Beverage from $43.00 to $41.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 8th. Zacks Research upgraded Molson Coors Beverage from a "strong sell" rating to a "hold" rating in a research note on Monday, April 13th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $42.00 target price on shares of Molson Coors Beverage in a report on Friday, May 1st. Finally, Sanford C. Bernstein decreased their price target on shares of Molson Coors Beverage from $74.00 to $45.00 and set a "market perform" rating for the company in a research report on Tuesday, May 26th.

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 that occurred on Thursday, May 21st. The shares were sold at an average price of $42.50, for a total value of $52,912.50. Following the completion of the sale, the director directly owned 9,871 shares in the company, valued at $419,517.50. This trade represents a 11.20% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 2.27% of the stock is owned by insiders.

Hedge Funds Weigh In On Molson Coors Beverage

A number of large investors have recently made changes to their positions in the business. Caxton Associates LLP purchased a new position in Molson Coors Beverage during the 1st quarter worth $202,000. United Services Automobile Association purchased a new stake in Molson Coors Beverage in the first quarter valued at about $215,000. Woodline Partners LP raised its stake in Molson Coors Beverage by 38.7% in the first quarter. Woodline Partners LP now owns 14,546 shares of the company's stock valued at $885,000 after buying an additional 4,056 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in Molson Coors Beverage by 32.9% in the first quarter. Geneos Wealth Management Inc. now owns 800 shares of the company's stock worth $49,000 after acquiring an additional 198 shares in the last quarter. Finally, First Trust Advisors LP boosted its holdings in Molson Coors Beverage by 4.7% in the second quarter. First Trust Advisors LP now owns 413,578 shares of the company's stock worth $19,889,000 after acquiring an additional 18,566 shares in the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

Molson Coors Beverage Price Performance

Shares of TAP opened at $39.05 on Monday. 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 has a 50 day moving average price of $40.53 and a 200-day moving average price of $44.48. Molson Coors Beverage has a fifty-two week low of $38.04 and a fifty-two week high of $54.82. The stock has a market capitalization of $7.32 billion, a PE ratio of -3.67 and a beta of 0.42.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.26. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.33 billion. Molson Coors Beverage had a negative net margin of 16.14% and a positive return on equity of 9.79%. Molson Coors Beverage's revenue was up 2.0% compared to the same quarter last year. During the same period last year, the company posted $0.50 earnings per share. Equities analysts predict that Molson Coors Beverage will post 4.8 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

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

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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