Molson Coors Beverage (NYSE:TAP) Now Covered by Analysts at Berenberg Bank

Berenberg Bank assumed coverage on shares of Molson Coors Beverage (NYSE:TAP) in a research report report published on Wednesday, Marketbeat reports. The brokerage issued a buy rating and a $86.90 price target on the stock.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley increased their price target on 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. JPMorgan Chase & Co. reduced their target price 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. Barclays lowered their price target on shares of Molson Coors Beverage from $62.00 to $61.00 and set an “equal weight” rating for the company in a report on Thursday, March 27th. Citigroup upgraded shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and raised their price objective for the company from $47.00 to $57.00 in a report on Wednesday, February 5th. Finally, UBS Group boosted their target price on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $65.06.

Molson Coors Beverage Stock Up 1.3 %

Shares of TAP opened at $62.02 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. The stock has a market capitalization of $12.57 billion, a PE ratio of 11.59, a P/E/G ratio of 1.52 and a beta of 0.81. The company’s 50-day simple moving average is $58.47 and its 200-day simple moving average is $57.84. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly 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. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The company had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.71 billion. Analysts forecast that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 14th. Shareholders of record on Thursday, February 27th were given a dividend of $0.47 per share. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. This represents a $1.88 annualized dividend and a yield of 3.03%. The ex-dividend date was Thursday, February 27th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 35.14%.

Institutional Investors Weigh In On Molson Coors Beverage

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Truvestments Capital LLC raised its stake in Molson Coors Beverage by 51.4% during the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock valued at $34,000 after acquiring an additional 202 shares during the last quarter. CoreCap Advisors LLC raised its stake in shares of Molson Coors Beverage by 10,716.7% during the fourth quarter. CoreCap Advisors LLC now owns 649 shares of the company’s stock worth $37,000 after purchasing an additional 643 shares during the last quarter. Quarry LP lifted its holdings in shares of 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 purchasing an additional 254 shares during the period. Catalyst Capital Advisors LLC grew its position in Molson Coors Beverage by 143.6% in the 4th quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock valued at $42,000 after buying an additional 428 shares during the last quarter. Finally, SRS Capital Advisors Inc. increased its stake in Molson Coors Beverage by 38.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 729 shares of the company’s stock valued at $42,000 after buying an additional 203 shares during the period. 78.46% of the stock is owned by hedge funds and other institutional investors.

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.