Molson Coors Beverage (NYSE:TAP) Coverage Initiated by Analysts at BNP Paribas

BNP Paribas began coverage on shares of Molson Coors Beverage (NYSE:TAP) in a report released on Monday morning, Marketbeat reports. The brokerage issued a neutral rating and a $64.00 price objective on the stock.

Several other equities research analysts also recently weighed in on TAP. JPMorgan Chase & Co. increased their price target on Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Deutsche Bank Aktiengesellschaft increased their price target on Molson Coors Beverage from $56.00 to $57.00 and gave the stock a “hold” rating in a report on Wednesday, August 7th. TD Cowen decreased their price target on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a report on Tuesday, October 8th. Hsbc Global Res downgraded Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. Finally, Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and increased their price target for the stock from $52.00 to $74.00 in a report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $60.57.

Molson Coors Beverage Price Performance

TAP stock opened at $60.67 on Monday. The company has a market capitalization of $12.50 billion, a P/E ratio of 13.66, a PEG ratio of 2.34 and a beta of 0.82. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The business has a 50 day simple moving average of $56.84 and a 200-day simple moving average of $54.43. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46.

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, beating the consensus estimate 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 return on equity of 9.24% and a net margin of 6.78%. The company’s revenue was down 7.8% compared to the same quarter last year. During the same period in the prior year, the company earned $1.92 earnings per share. As a group, equities analysts anticipate that Molson Coors Beverage will post 5.78 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Stockholders of record on Friday, December 6th will be given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.90%. The ex-dividend date is Friday, December 6th. Molson Coors Beverage’s dividend payout ratio is currently 39.64%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC increased its position in shares of Molson Coors Beverage by 11.8% in the third quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company’s stock valued at $99,000 after buying an additional 182 shares in the last quarter. Integrated Investment Consultants LLC boosted its stake in shares of Molson Coors Beverage by 4.7% during the third quarter. Integrated Investment Consultants LLC now owns 4,154 shares of the company’s stock valued at $239,000 after acquiring an additional 185 shares during the last quarter. Perpetual Ltd boosted its stake in shares of Molson Coors Beverage by 1.0% during the third quarter. Perpetual Ltd now owns 20,543 shares of the company’s stock valued at $1,182,000 after acquiring an additional 197 shares during the last quarter. SkyView Investment Advisors LLC boosted its stake in shares of Molson Coors Beverage by 1.8% during the second quarter. SkyView Investment Advisors LLC now owns 15,102 shares of the company’s stock valued at $768,000 after acquiring an additional 274 shares during the last quarter. Finally, Private Advisor Group LLC boosted its stake in shares of Molson Coors Beverage by 0.9% during the third quarter. Private Advisor Group LLC now owns 32,080 shares of the company’s stock valued at $1,845,000 after acquiring an additional 277 shares during the last quarter. Hedge funds and other 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.