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

Molson Coors Beverage (NYSE:TAP - Get Free Report) has been assigned an average recommendation of "Hold" from the fifteen research firms that are presently covering the firm, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1 year price target among brokerages that have issued a report on the stock in the last year is $63.26.

TAP has been the topic of several research analyst reports. UBS Group dropped their target price on shares of 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. Berenberg Bank initiated coverage on shares of Molson Coors Beverage in a research report on Wednesday, April 2nd. They issued a "buy" rating and a $86.90 target price on the stock. Wall Street Zen lowered shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th. Barclays dropped their target price on shares of Molson Coors Beverage from $60.00 to $57.00 and set an "equal weight" rating on the stock in a research report on Monday, May 12th. Finally, Roth Capital set a $71.00 price target on shares of Molson Coors Beverage and gave the stock a "buy" rating in a research note on Tuesday, May 20th.

Molson Coors Beverage Stock Up 0.2%

TAP stock opened at $51.95 on Friday. The firm has a market cap of $10.50 billion, a PE ratio of 9.71, a P/E/G ratio of 1.52 and a beta of 0.72. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. The firm's fifty day moving average is $56.88 and its 200 day moving average is $57.86. Molson Coors Beverage has a one year low of $49.19 and a one year high of $64.66.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its earnings results on Thursday, May 8th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.30). Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The company had revenue of $2.30 billion during the quarter, compared to analyst estimates of $2.43 billion. During the same quarter last 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 forecast that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Friday, June 6th will be paid a dividend of $0.47 per share. This represents a $1.88 dividend on an annualized basis and a yield of 3.62%. The ex-dividend date is Friday, June 6th. Molson Coors Beverage's dividend payout ratio (DPR) is presently 37.83%.

Insiders Place Their Bets

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,333 shares of Molson Coors Beverage stock in a transaction dated Wednesday, May 21st. The shares were sold at an average price of $56.29, for a total transaction of $75,034.57. Following the transaction, the director now directly owns 27,595 shares of the company's stock, valued at $1,553,322.55. The trade was a 4.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.71% of the stock is owned by insiders.

Hedge Funds Weigh In On Molson Coors Beverage

A number of institutional investors have recently bought and sold shares of the company. Golden State Wealth Management LLC raised its stake in shares of Molson Coors Beverage by 230.2% in the 1st quarter. Golden State Wealth Management LLC now owns 416 shares of the company's stock valued at $25,000 after acquiring an additional 290 shares during the period. Millstone Evans Group LLC raised its stake in shares of Molson Coors Beverage by 151.8% in the 1st quarter. Millstone Evans Group LLC now owns 423 shares of the company's stock valued at $26,000 after acquiring an additional 255 shares during the period. Elequin Capital LP purchased a new stake in shares of Molson Coors Beverage in the 1st quarter valued at approximately $30,000. Financial Management Professionals Inc. raised its stake in shares of Molson Coors Beverage by 3,286.7% in the 1st quarter. Financial Management Professionals Inc. now owns 508 shares of the company's stock valued at $31,000 after acquiring an additional 493 shares during the period. Finally, Eastern Bank purchased a new stake in shares of Molson Coors Beverage in the 1st quarter valued at approximately $33,000. 78.46% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.