Molson Coors Beverage (NYSE:TAP) Downgraded by StockNews.com to Hold

StockNews.com cut shares of Molson Coors Beverage (NYSE:TAP) from a buy rating to a hold rating in a report released on Friday morning.

A number of other equities research analysts also recently weighed in on the company. BNP Paribas began coverage on Molson Coors Beverage in a report on Monday, November 25th. They issued a “neutral” rating and a $64.00 target price on the stock. JPMorgan Chase & Co. reduced their price objective on 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. Hsbc Global Res downgraded Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. Citigroup raised shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and increased their target price for the stock from $47.00 to $57.00 in a report on Wednesday, February 5th. Finally, Bank of America raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their price target for the company from $57.00 to $70.00 in a report on Friday, December 6th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $63.27.

Molson Coors Beverage Stock Down 0.2 %

TAP stock opened at $60.29 on Friday. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The business has a 50-day simple moving average of $56.41 and a 200 day simple moving average of $56.58. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46. The company has a market cap of $12.42 billion, a PE ratio of 11.27, a price-to-earnings-growth ratio of 1.51 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.17 by $0.13. The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. Sell-side analysts anticipate that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Investors of record on Thursday, February 27th will be given a dividend of $0.47 per share. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a yield of 3.12%. The ex-dividend date is Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 32.90%.

Institutional Investors Weigh In On Molson Coors Beverage

A number of institutional investors have recently made changes to their positions in TAP. Clark Estates Inc. NY lifted its stake in shares of Molson Coors Beverage by 18.1% in the third quarter. Clark Estates Inc. NY now owns 60,000 shares of the company’s stock worth $3,451,000 after acquiring an additional 9,200 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Molson Coors Beverage by 1.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company’s stock worth $2,046,000 after purchasing an additional 563 shares during the last quarter. Wilsey Asset Management Inc. lifted its position in shares of Molson Coors Beverage by 1.6% in the 4th quarter. Wilsey Asset Management Inc. now owns 550,539 shares of the company’s stock worth $31,557,000 after purchasing an additional 8,679 shares during the period. Qsemble Capital Management LP boosted its stake in shares of Molson Coors Beverage by 23.5% in the 3rd quarter. Qsemble Capital Management LP now owns 48,474 shares of the company’s stock valued at $2,788,000 after purchasing an additional 9,234 shares during the last quarter. Finally, Principal Financial Group Inc. increased 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 worth $12,183,000 after buying an additional 9,510 shares during the period. 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.