Barclays Lowers Molson Coors Beverage (NYSE:TAP) Price Target to $61.00

Molson Coors Beverage (NYSE:TAP) had its target price trimmed by Barclays from $62.00 to $61.00 in a report published on Thursday,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other equities analysts also recently weighed in on TAP. JPMorgan Chase & Co. dropped their price target on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday, January 30th. Morgan Stanley upped their target price on Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Friday, February 14th. UBS Group boosted their price target on Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a research note on Friday, February 14th. Citigroup upgraded shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and lifted their target price for the company from $47.00 to $57.00 in a research note on Wednesday, February 5th. Finally, StockNews.com lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $63.60.

Molson Coors Beverage Trading Down 0.7 %

Shares of NYSE TAP opened at $60.52 on Thursday. The company has a current ratio of 0.94, a quick ratio of 0.70 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18. The business has a 50-day moving average price of $58.11 and a two-hundred day moving average price of $57.69. The firm has a market capitalization of $12.26 billion, a PE ratio of 11.31, a PEG ratio of 1.52 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Thursday, February 13th. The company reported $1.30 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.13. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. As a group, analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 14th. Stockholders of record on Thursday, February 27th were given a $0.47 dividend. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend was Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 35.14%.

Hedge Funds Weigh In On Molson Coors Beverage

Several large investors have recently made changes to their positions in the business. Truvestments Capital LLC lifted its holdings in shares of Molson Coors Beverage by 51.4% during the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock worth $34,000 after buying an additional 202 shares during the last quarter. CoreCap Advisors LLC raised its stake in Molson Coors Beverage by 10,716.7% during the 4th quarter. CoreCap Advisors LLC now owns 649 shares of the company’s stock valued at $37,000 after purchasing an additional 643 shares during the last quarter. Quarry LP boosted its holdings in Molson Coors Beverage by 55.1% in the 4th quarter. Quarry LP now owns 715 shares of the company’s stock valued at $41,000 after purchasing an additional 254 shares during the period. Catalyst Capital Advisors LLC grew its position in Molson Coors Beverage by 143.6% in the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock worth $42,000 after purchasing an additional 428 shares during the last quarter. Finally, SRS Capital Advisors Inc. increased its holdings in shares of Molson Coors Beverage by 38.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock worth $42,000 after purchasing an additional 203 shares during the period. Institutional investors and hedge funds 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.