StockNews.com cut shares of Molson Coors Beverage (NYSE:TAP – Free Report) from a buy rating to a hold rating in a report issued on Thursday.
A number of other analysts also recently weighed in on TAP. Evercore ISI cut their target price on Molson Coors Beverage from $70.00 to $68.00 and set an outperform rating for the company in a research report on Wednesday, May 1st. Piper Sandler began coverage on shares of Molson Coors Beverage in a research note on Friday, March 22nd. They set a neutral rating and a $69.00 price objective on the stock. Citigroup decreased their price target on Molson Coors Beverage from $56.00 to $53.00 and set a sell rating on the stock in a research note on Wednesday, May 1st. UBS Group lowered their target price on Molson Coors Beverage from $70.00 to $64.00 and set a neutral rating for the company in a research note on Wednesday, May 1st. Finally, TheStreet upgraded shares of Molson Coors Beverage from a c rating to a b- rating in a research note on Tuesday, February 13th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and an average target price of $65.53.
Get Our Latest Research Report on TAP
Molson Coors Beverage Stock Up 0.1 %
Molson Coors Beverage (NYSE:TAP – Get Free Report) last issued its quarterly earnings data on Tuesday, April 30th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.21. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. The business had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the previous year, the company earned $0.54 EPS. The business’s revenue was up 10.7% on a year-over-year basis. On average, equities analysts anticipate that Molson Coors Beverage will post 5.67 earnings per share for the current year.
Molson Coors Beverage Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a dividend of $0.44 per share. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.76 annualized dividend and a yield of 3.04%. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.41. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 35.20%.
Insider Buying and Selling at Molson Coors Beverage
In other news, CFO Tracey Joubert sold 2,771 shares of Molson Coors Beverage stock in a transaction on Monday, February 12th. The shares were sold at an average price of $60.37, for a total value of $167,285.27. Following the completion of the sale, the chief financial officer now owns 60,538 shares in the company, valued at approximately $3,654,679.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.71% of the company’s stock.
Hedge Funds Weigh In On Molson Coors Beverage
Institutional investors and hedge funds have recently made changes to their positions in the stock. Asset Management One Co. Ltd. increased its holdings in shares of Molson Coors Beverage by 1.2% during the third quarter. Asset Management One Co. Ltd. now owns 74,853 shares of the company’s stock valued at $4,760,000 after acquiring an additional 869 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Molson Coors Beverage by 7.2% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 33,897 shares of the company’s stock worth $2,156,000 after acquiring an additional 2,279 shares in the last quarter. Kingswood Wealth Advisors LLC bought a new position in shares of Molson Coors Beverage during the third quarter valued at about $271,000. Xponance Inc. boosted its holdings in Molson Coors Beverage by 1.6% during the third quarter. Xponance Inc. now owns 26,896 shares of the company’s stock worth $1,710,000 after purchasing an additional 416 shares during the last quarter. Finally, Dakota Wealth Management increased its stake in Molson Coors Beverage by 9.3% in the 3rd quarter. Dakota Wealth Management now owns 3,412 shares of the company’s stock valued at $217,000 after buying an additional 290 shares during the last quarter. 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.
Featured Stories
- Five stocks we like better than Molson Coors Beverage
- Stock Market Holidays 2022-2025 – Here’s When the NYSE and NASDAQ Will be Closed
- MarketBeat Week in Review – 4/29 – 5/3
- Most Volatile Stocks, What Investors Need to Know
- Apple’s Earnings Show Investors Its Strength and Its Weakness
- Stock Dividend Cuts Happen Are You Ready?
- Bargain Alert: 3 Large Caps With Extremely Oversold RSIs
Receive News & Ratings for Molson Coors Beverage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Molson Coors Beverage and related companies with MarketBeat.com's FREE daily email newsletter.