Molson Coors Beverage (NYSE:TAP) Upgraded at Citigroup

Citigroup upgraded shares of Molson Coors Beverage (NYSE:TAP) from a sell rating to a neutral rating in a research note published on Wednesday, Marketbeat.com reports. They currently have $57.00 price target on the stock, up from their prior price target of $47.00.

A number of other research analysts have also commented on the company. Needham & Company LLC initiated coverage on Molson Coors Beverage in a research report on Friday, December 6th. They set a “buy” rating and a $72.00 price target for the company. UBS Group lowered their price target on Molson Coors Beverage from $60.00 to $58.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and upped their price target for the company from $52.00 to $74.00 in a research report on Friday, November 8th. TD Cowen lowered their price target on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a research report on Tuesday, October 8th. Finally, Bank of America raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their target price for the stock from $57.00 to $70.00 in a research report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Molson Coors Beverage currently has a consensus rating of “Hold” and a consensus target price of $62.36.

Molson Coors Beverage Price Performance

Shares of NYSE TAP opened at $54.23 on Wednesday. The firm has a market capitalization of $11.17 billion, a P/E ratio of 12.21, a P/E/G ratio of 2.52 and a beta of 0.85. 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 stock’s 50-day simple moving average is $57.21 and its two-hundred day simple moving average is $56.22. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18.

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

Molson Coors Beverage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were given a $0.44 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.76 annualized dividend and a yield of 3.25%. Molson Coors Beverage’s dividend payout ratio is currently 39.64%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Clark Estates Inc. NY boosted its position in shares of Molson Coors Beverage by 18.1% during the third quarter. Clark Estates Inc. NY now owns 60,000 shares of the company’s stock valued at $3,451,000 after buying an additional 9,200 shares during the period. Wealth Enhancement Advisory Services LLC boosted its position in shares of Molson Coors Beverage by 1.6% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company’s stock valued at $2,046,000 after buying an additional 563 shares during the period. 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 valued at $2,788,000 after buying an additional 9,234 shares during the period. Principal Financial Group Inc. boosted its position in shares of Molson Coors Beverage by 4.7% during the third quarter. Principal Financial Group Inc. now owns 211,812 shares of the company’s stock valued at $12,183,000 after buying an additional 9,510 shares during the period. Finally, FMR LLC boosted its position in shares of Molson Coors Beverage by 23.2% during the third quarter. FMR LLC now owns 716,311 shares of the company’s stock valued at $41,202,000 after buying an additional 134,689 shares during the period. Hedge funds and other 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.