Analysts Set Molson Coors Beverage (NYSE:TAP) Target Price at $62.00

Molson Coors Beverage (NYSE:TAP) has received a consensus recommendation of “Hold” from the fourteen brokerages that are presently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $62.00.

A number of analysts recently commented on the company. Barclays upped their price objective on Molson Coors Beverage from $49.00 to $51.00 and gave the company an “underweight” rating in a research report on Monday, November 11th. Bank of America raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and upped their price target for the company from $57.00 to $70.00 in a research report on Friday, December 6th. JPMorgan Chase & Co. raised their price objective on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. StockNews.com raised shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a report on Friday, December 13th. Finally, Wells Fargo & Company upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and lifted their price target for the stock from $52.00 to $74.00 in a research note on Friday, November 8th.

Molson Coors Beverage Stock Performance

Shares of TAP stock opened at $59.34 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46. The company has a 50 day moving average price of $58.99 and a 200-day moving average price of $55.18. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The firm has a market capitalization of $12.22 billion, a PE ratio of 13.36, a P/E/G ratio of 2.38 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Thursday, November 7th. The company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.13. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The firm’s revenue was down 7.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.92 EPS. As a group, equities research analysts expect that Molson Coors Beverage will post 5.78 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were paid a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date was Friday, December 6th. Molson Coors Beverage’s dividend payout ratio (DPR) is 39.64%.

Institutional Trading of Molson Coors Beverage

Several institutional investors and hedge funds have recently added to or reduced their stakes in TAP. Clark Estates Inc. NY boosted its stake in Molson Coors Beverage by 18.1% in the 3rd quarter. Clark Estates Inc. NY now owns 60,000 shares of the company’s stock worth $3,451,000 after purchasing an additional 9,200 shares during the period. Wakefield Asset Management LLLP boosted its position in shares of Molson Coors Beverage by 124.5% during the second quarter. Wakefield Asset Management LLLP now owns 53,286 shares of the company’s stock worth $2,709,000 after acquiring an additional 29,552 shares during the last quarter. Qsemble Capital Management LP boosted its position in shares of Molson Coors Beverage by 23.5% during the third quarter. Qsemble Capital Management LP now owns 48,474 shares of the company’s stock worth $2,788,000 after acquiring an additional 9,234 shares during the last quarter. Quest Partners LLC grew its stake in Molson Coors Beverage by 252,400.0% during the second quarter. Quest Partners LLC now owns 17,675 shares of the company’s stock valued at $898,000 after acquiring an additional 17,668 shares in the last quarter. Finally, 1832 Asset Management L.P. bought a new stake in Molson Coors Beverage in the 2nd quarter valued at $1,237,000. Institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Company Profile

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.