Molson Coors Beverage (NYSE:TAP) Rating Lowered to “Hold” at StockNews.com

StockNews.com lowered shares of Molson Coors Beverage (NYSE:TAP) from a buy rating to a hold rating in a research report sent to investors on Friday.

A number of other analysts have also commented on TAP. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 target price on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. Bank of America upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $57.00 to $70.00 in a report on Friday, December 6th. UBS Group upped their target price on Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Morgan Stanley lifted their price target on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the company an “equal weight” rating in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $63.27.

Molson Coors Beverage Stock Performance

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

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.13. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The business had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.71 billion. On average, equities analysts forecast that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be paid a $0.47 dividend. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.12%. The ex-dividend date is Thursday, February 27th. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s payout ratio is presently 32.90%.

Institutional Trading of Molson Coors Beverage

A number of institutional investors and hedge funds have recently modified their holdings of TAP. Truvestments Capital LLC grew its stake in Molson Coors Beverage by 51.4% in the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock valued at $34,000 after purchasing an additional 202 shares during the period. Ashton Thomas Securities LLC purchased a new position in shares of Molson Coors Beverage in the 3rd quarter worth about $35,000. CoreCap Advisors LLC grew its position in Molson Coors Beverage by 10,716.7% during the fourth quarter. CoreCap Advisors LLC now owns 649 shares of the company’s stock valued at $37,000 after buying an additional 643 shares during the period. Quarry LP increased its holdings in Molson Coors Beverage by 55.1% during the fourth quarter. Quarry LP now owns 715 shares of the company’s stock worth $41,000 after buying an additional 254 shares during the last quarter. Finally, Gladius Capital Management LP bought a new stake in Molson Coors Beverage in the third quarter worth about $42,000. 78.46% of the stock is owned by hedge funds and other institutional investors.

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.