Analysts Set Molson Coors Beverage (NYSE:TAP) Target Price at $65.07

Shares of Molson Coors Beverage (NYSE:TAP) have received an average recommendation of “Hold” from the fifteen research firms that are currently covering the firm, MarketBeat.com reports. Two 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 twelve-month price target among brokers that have issued ratings on the stock in the last year is $65.07.

TAP has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. dropped their price objective on Molson Coors Beverage from $66.00 to $60.00 and set a “neutral” rating for the company in a report on Wednesday, May 1st. StockNews.com downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Evercore ISI dropped their target price on shares of Molson Coors Beverage from $70.00 to $68.00 and set an “outperform” rating on the stock in a report on Wednesday, May 1st. Barclays decreased their target price on Molson Coors Beverage from $62.00 to $55.00 and set an “equal weight” rating on the stock in a research report on Wednesday, May 29th. Finally, The Goldman Sachs Group raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $66.00 to $75.00 in a report on Tuesday, April 9th.

Molson Coors Beverage Stock Performance

TAP stock opened at $50.63 on Friday. The company has a 50 day moving average price of $55.36 and a 200 day moving average price of $60.75. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $70.90. 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 stock has a market capitalization of $10.73 billion, a PE ratio of 10.13, a price-to-earnings-growth ratio of 1.84 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $2.50 billion. During the same period in the previous year, the firm posted $0.54 earnings per share. Molson Coors Beverage’s revenue for the quarter was up 10.7% compared to the same quarter last year. Analysts forecast that Molson Coors Beverage will post 5.68 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 21st. Stockholders of record on Friday, June 7th were issued a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend was Friday, June 7th. Molson Coors Beverage’s payout ratio is presently 35.20%.

Institutional Investors Weigh In On Molson Coors Beverage

Hedge funds and other institutional investors have recently made changes to their positions in the business. Pacer Advisors Inc. boosted its position in shares of Molson Coors Beverage by 9,466.3% during the fourth quarter. Pacer Advisors Inc. now owns 2,143,619 shares of the company’s stock worth $131,211,000 after acquiring an additional 2,121,211 shares during the last quarter. Norges Bank bought a new stake in shares of Molson Coors Beverage in the fourth quarter valued at about $127,337,000. AQR Capital Management LLC boosted its position in Molson Coors Beverage by 76.0% during the 3rd quarter. AQR Capital Management LLC now owns 3,475,114 shares of the company’s stock valued at $218,168,000 after acquiring an additional 1,500,269 shares in the last quarter. Morgan Stanley raised its holdings in Molson Coors Beverage by 40.2% in the third quarter. Morgan Stanley now owns 3,446,989 shares of the company’s stock worth $219,194,000 after purchasing an additional 988,864 shares in the last quarter. Finally, Capital International Investors increased its position in shares of Molson Coors Beverage by 10.7% during the first quarter. Capital International Investors now owns 9,692,916 shares of the company’s stock worth $651,849,000 after purchasing an additional 939,142 shares in 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.