Analysts Set Molson Coors Beverage (NYSE:TAP) Target Price at $65.53

Molson Coors Beverage (NYSE:TAP) has been assigned a consensus rating of “Hold” from the fifteen research firms that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $65.53.

A number of brokerages recently issued reports on TAP. Bank of America reduced their target price on Molson Coors Beverage from $72.00 to $62.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Citigroup cut their price target on shares of Molson Coors Beverage from $56.00 to $53.00 and set a “sell” rating on the stock in a report on Wednesday, May 1st. TheStreet upgraded shares of Molson Coors Beverage from a “c” rating to a “b-” rating in a research note on Tuesday, February 13th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Molson Coors Beverage from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, April 17th. Finally, StockNews.com downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Thursday, May 2nd.

Insider Buying and Selling

In related news, CFO Tracey Joubert sold 2,771 shares of Molson Coors Beverage stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $60.37, for a total value of $167,285.27. Following the sale, the chief financial officer now directly owns 60,538 shares in the company, valued at approximately $3,654,679.06. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 2.71% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. increased its holdings in shares of Molson Coors Beverage by 82.7% in the first quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 532,187 shares of the company’s stock valued at $35,790,000 after purchasing an additional 240,937 shares during the last quarter. Entropy Technologies LP increased its stake in shares of Molson Coors Beverage by 320.0% in the 1st quarter. Entropy Technologies LP now owns 21,798 shares of the company’s stock worth $1,466,000 after acquiring an additional 16,608 shares during the last quarter. William Blair Investment Management LLC increased its stake in shares of Molson Coors Beverage by 4.0% in the 1st quarter. William Blair Investment Management LLC now owns 6,989 shares of the company’s stock worth $470,000 after acquiring an additional 266 shares during the last quarter. Heritage Wealth Advisors purchased a new position in shares of Molson Coors Beverage during the 1st quarter worth $84,000. Finally, ProShare Advisors LLC boosted its position in shares of Molson Coors Beverage by 2.3% during the 1st quarter. ProShare Advisors LLC now owns 44,316 shares of the company’s stock valued at $2,980,000 after acquiring an additional 997 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Trading Down 0.1 %

Shares of NYSE:TAP opened at $58.21 on Friday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.69 and a quick ratio of 0.47. The firm has a market capitalization of $12.38 billion, a P/E ratio of 11.64, a P/E/G ratio of 2.09 and a beta of 0.86. The business’s 50-day moving average is $64.48 and its 200 day moving average is $62.32. Molson Coors Beverage has a 1 year low of $55.67 and a 1 year high of $70.90.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Tuesday, April 30th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.21. The company had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. Molson Coors Beverage’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period last year, the business earned $0.54 EPS. On average, research analysts predict that Molson Coors Beverage will post 5.67 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a $0.44 dividend. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.41. The ex-dividend date was Thursday, February 29th. This represents a $1.76 annualized dividend and a dividend yield of 3.02%. Molson Coors Beverage’s dividend payout ratio (DPR) is 35.20%.

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.