UBS Group Increases Molson Coors Beverage (NYSE:TAP) Price Target to $58.00

Molson Coors Beverage (NYSE:TAP) had its price objective hoisted by UBS Group from $55.00 to $58.00 in a research report released on Wednesday, Benzinga reports. UBS Group currently has a neutral rating on the stock.

Several other equities research analysts also recently commented on TAP. TD Cowen cut shares of Molson Coors Beverage from a buy rating to a hold rating and decreased their target price for the company from $68.00 to $58.00 in a research note on Wednesday. Bank of America dropped their price target on shares of Molson Coors Beverage from $62.00 to $54.00 and set a neutral rating for the company in a research report on Wednesday, July 10th. JPMorgan Chase & Co. cut their price objective on shares of Molson Coors Beverage from $60.00 to $54.00 and set a neutral rating for the company in a research report on Monday, July 15th. The Goldman Sachs Group raised Molson Coors Beverage from a neutral rating to a buy rating and boosted their price target for the stock from $66.00 to $75.00 in a report on Tuesday, April 9th. Finally, Evercore ISI lowered their price objective on shares of 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. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of Hold and a consensus price target of $60.53.

Molson Coors Beverage Stock Up 0.2 %

NYSE TAP traded up $0.12 during trading on Wednesday, hitting $52.98. The stock had a trading volume of 1,474,603 shares, compared to its average volume of 1,965,625. The company has a market capitalization of $11.22 billion, a PE ratio of 10.60, a P/E/G ratio of 2.26 and a beta of 0.81. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18. The company’s 50-day moving average price is $51.76 and its two-hundred day moving average price is $58.53. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.47 and a current ratio of 0.69.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Tuesday, August 6th. The company reported $1.92 EPS for the quarter, topping the consensus estimate of $1.68 by $0.24. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same quarter in the prior year, the company posted $1.78 earnings per share. The firm’s revenue was down .4% on a year-over-year basis. As a group, sell-side analysts forecast that Molson Coors Beverage will post 5.56 EPS for the current year.

Molson Coors Beverage Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, August 30th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Friday, August 30th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 35.20%.

Institutional Trading of Molson Coors Beverage

Large investors have recently bought and sold shares of the business. Quantbot Technologies LP bought a new position in shares of Molson Coors Beverage during the 2nd quarter worth approximately $7,308,000. Dimensional Fund Advisors LP boosted its stake in Molson Coors Beverage by 20.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,579,811 shares of the company’s stock worth $131,130,000 after acquiring an additional 434,685 shares in the last quarter. Oldfield Partners LLP grew its holdings in Molson Coors Beverage by 18.4% in the second quarter. Oldfield Partners LLP now owns 5,800 shares of the company’s stock worth $295,000 after purchasing an additional 900 shares during the period. Brown Brothers Harriman & Co. increased its stake in Molson Coors Beverage by 16.1% in the second quarter. Brown Brothers Harriman & Co. now owns 10,817 shares of the company’s stock valued at $550,000 after purchasing an additional 1,500 shares in the last quarter. Finally, Poehling Capital Management INC. acquired a new position in shares of Molson Coors Beverage during the second quarter valued at about $869,000. 78.46% of the stock is currently owned by institutional investors and hedge funds.

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.