Molson Coors Beverage (NYSE:TAP) Given Average Recommendation of "Hold" by Analysts

Shares of Molson Coors Beverage (NYSE:TAP - Get Free Report) have been assigned a consensus rating of "Hold" from the thirteen analysts that are currently covering the firm, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and two have issued a buy rating on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $68.07.

TAP has been the subject of several recent research reports. The Goldman Sachs Group raised shares of Molson Coors Beverage from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $66.00 to $75.00 in a research report on Tuesday. Piper Sandler began coverage on shares of Molson Coors Beverage in a report on Friday, March 22nd. They set a "neutral" rating and a $69.00 price target on the stock. TheStreet upgraded shares of Molson Coors Beverage from a "c" rating to a "b-" rating in a report on Tuesday, February 13th. StockNews.com cut shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a report on Monday, March 11th. Finally, Barclays boosted their price target on shares of Molson Coors Beverage from $64.00 to $65.00 and gave the stock an "equal weight" rating in a report on Thursday, February 15th.

Molson Coors Beverage Stock Up 1.1 %

Shares of NYSE:TAP traded up $0.70 during midday trading on Tuesday, hitting $67.33. 2,344,088 shares of the company's stock were exchanged, compared to its average volume of 1,659,049. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.70 and a quick ratio of 0.50. The stock has a 50 day moving average price of $64.34 and a 200-day moving average price of $62.09. The company has a market cap of $14.52 billion, a PE ratio of 15.44, a price-to-earnings-growth ratio of 2.35 and a beta of 0.84. Molson Coors Beverage has a 12 month low of $51.90 and a 12 month high of $70.90.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its earnings results on Tuesday, February 13th. The company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.12 by $0.07. The company had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.78 billion. Molson Coors Beverage had a net margin of 6.83% and a return on equity of 8.89%. The firm's revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the firm posted $1.30 earnings per share. On average, sell-side analysts anticipate that Molson Coors Beverage will post 5.66 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.44 per share. This is a boost from Molson Coors Beverage's previous quarterly dividend of $0.41. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.61%. The ex-dividend date was Thursday, February 29th. Molson Coors Beverage's dividend payout ratio is presently 40.37%.

Insider Activity at Molson Coors Beverage

In related news, CFO Tracey Joubert sold 2,771 shares of the company's stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $60.37, for a total transaction of $167,285.27. Following the sale, the chief financial officer now directly owns 60,538 shares in the company, valued at approximately $3,654,679.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 2.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Molson Coors Beverage

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Belpointe Asset Management LLC increased its holdings in Molson Coors Beverage by 12.7% during the 1st quarter. Belpointe Asset Management LLC now owns 1,521 shares of the company's stock worth $79,000 after acquiring an additional 171 shares during the period. Kestra Private Wealth Services LLC increased its holdings in shares of Molson Coors Beverage by 1.5% in the 4th quarter. Kestra Private Wealth Services LLC now owns 11,589 shares of the company's stock worth $709,000 after buying an additional 174 shares during the last quarter. Quent Capital LLC increased its holdings in shares of Molson Coors Beverage by 13.4% in the 3rd quarter. Quent Capital LLC now owns 1,487 shares of the company's stock worth $95,000 after buying an additional 176 shares during the last quarter. IMPACTfolio LLC increased its holdings in shares of Molson Coors Beverage by 4.6% in the 4th quarter. IMPACTfolio LLC now owns 4,027 shares of the company's stock worth $246,000 after buying an additional 176 shares during the last quarter. Finally, Syntax Advisors LLC increased its holdings in shares of Molson Coors Beverage by 5.0% in the 3rd quarter. Syntax Advisors LLC now owns 3,866 shares of the company's stock worth $246,000 after buying an additional 185 shares during the last quarter. Institutional investors own 78.46% of the company's stock.

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.