Molson Coors Beverage (NYSE:TAP) Given New $63.00 Price Target at Morgan Stanley

Molson Coors Beverage (NYSE:TAP) had its price target lifted by Morgan Stanley from $60.00 to $63.00 in a research report report published on Friday,Benzinga reports. The firm currently has an equal weight rating on the stock.

Other analysts have also recently issued reports about the company. UBS Group dropped their price objective on Molson Coors Beverage from $60.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Needham & Company LLC restated a “buy” rating and issued a $72.00 price objective on shares of Molson Coors Beverage in a report on Wednesday. Bank of America raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $57.00 to $70.00 in a report on Friday, December 6th. StockNews.com raised Molson Coors Beverage from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Citigroup upgraded Molson Coors Beverage from a “sell” rating to a “neutral” rating and raised their price target for the stock from $47.00 to $57.00 in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $62.73.

Molson Coors Beverage Stock Performance

Shares of Molson Coors Beverage stock opened at $60.33 on Friday. The firm has a 50 day simple moving average of $56.50 and a 200 day simple moving average of $56.31. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.74. The firm has a market cap of $12.43 billion, a P/E ratio of 13.59, a P/E/G ratio of 2.07 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.17 by $0.13. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. Sell-side analysts predict that Molson Coors Beverage will post 5.79 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be given a $0.47 dividend. The ex-dividend date is Thursday, February 27th. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a dividend yield of 3.12%. Molson Coors Beverage’s payout ratio is currently 39.64%.

Institutional Trading of Molson Coors Beverage

Several hedge funds have recently bought and sold shares of TAP. Truvestments Capital LLC increased its position in shares of Molson Coors Beverage by 51.4% during the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock worth $34,000 after acquiring an additional 202 shares in the last quarter. Ashton Thomas Securities LLC bought a new stake in Molson Coors Beverage in the 3rd quarter valued at $35,000. Quarry LP boosted its stake in Molson Coors Beverage by 55.1% in the 4th quarter. Quarry LP now owns 715 shares of the company’s stock worth $41,000 after purchasing an additional 254 shares during the period. Gladius Capital Management LP bought a new position in Molson Coors Beverage during the 3rd quarter worth about $42,000. Finally, Catalyst Capital Advisors LLC raised its stake in shares of Molson Coors Beverage by 143.6% in the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock valued at $42,000 after purchasing an additional 428 shares during the period. 78.46% of the stock is currently owned by institutional investors and hedge funds.

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.