Brokerages Set Molson Coors Beverage (NYSE:TAP) Target Price at $61.64

Molson Coors Beverage (NYSE:TAP) has been given a consensus recommendation of “Hold” by the fourteen analysts that are currently covering the firm, Marketbeat Ratings reports. One analyst has rated the stock with a sell recommendation, eight have given a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokers that have covered the stock in the last year is $62.36.

TAP has been the subject of several research analyst reports. Bank of America upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and raised their price target for the stock from $57.00 to $70.00 in a research report on Friday, December 6th. Barclays lowered their target price on Molson Coors Beverage from $51.00 to $48.00 and set an “underweight” rating for the company in a report on Friday, January 17th. Citigroup upgraded shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and boosted their price target for the stock from $47.00 to $57.00 in a research note on Wednesday. Needham & Company LLC initiated coverage on shares of Molson Coors Beverage in a research note on Friday, December 6th. They issued a “buy” rating and a $72.00 price objective for the company. Finally, BNP Paribas assumed coverage on shares of Molson Coors Beverage in a research note on Monday, November 25th. They set a “neutral” rating and a $64.00 target price on the stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in TAP. Ashton Thomas Securities LLC acquired a new position in Molson Coors Beverage in the third quarter valued at approximately $35,000. Gladius Capital Management LP purchased a new stake in shares of Molson Coors Beverage during the 3rd quarter worth approximately $42,000. Catalyst Capital Advisors LLC lifted its position in shares of Molson Coors Beverage by 143.6% during the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock worth $42,000 after buying an additional 428 shares during the last quarter. SRS Capital Advisors Inc. boosted its holdings in shares of Molson Coors Beverage by 38.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock valued at $42,000 after buying an additional 203 shares in the last quarter. Finally, Private Trust Co. NA grew its position in shares of Molson Coors Beverage by 53.1% in the 4th quarter. Private Trust Co. NA now owns 796 shares of the company’s stock valued at $46,000 after buying an additional 276 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Trading Up 0.7 %

Shares of TAP stock opened at $53.31 on Monday. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The firm has a market cap of $10.98 billion, a PE ratio of 12.01, a price-to-earnings-growth ratio of 2.52 and a beta of 0.85. The company has a 50-day moving average of $57.35 and a two-hundred day moving average of $56.23. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.74.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.13. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The firm had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter last year, the company posted $1.92 EPS. The firm’s quarterly revenue was down 7.8% on a year-over-year basis. On average, analysts predict that Molson Coors Beverage will post 5.79 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were paid a dividend of $0.44 per share. The ex-dividend date was Friday, December 6th. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.30%. Molson Coors Beverage’s payout ratio is currently 39.64%.

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.