Molson Coors Beverage (NYSE:TAP) Upgraded by StockNews.com to Buy

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

Other research analysts also recently issued reports about the company. TheStreet upgraded Molson Coors Beverage from a c rating to a b- rating in a research report on Tuesday, February 13th. The Goldman Sachs Group upgraded Molson Coors Beverage from a neutral rating to a buy rating and upped their price objective for the company from $66.00 to $75.00 in a research report on Tuesday, April 9th. Piper Sandler initiated coverage on shares of Molson Coors Beverage in a report on Friday, March 22nd. They issued a neutral rating and a $69.00 target price on the stock. Finally, Barclays raised their price target on shares of Molson Coors Beverage from $65.00 to $67.00 and gave the stock an equal weight rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Hold and an average price target of $68.20.

Molson Coors Beverage Trading Down 2.4 %

Shares of TAP stock opened at $64.76 on Friday. The stock has a market cap of $13.97 billion, a P/E ratio of 14.85, a P/E/G ratio of 2.31 and a beta of 0.84. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.40. Molson Coors Beverage has a fifty-two week low of $55.67 and a fifty-two week high of $70.90. The business has a fifty day simple moving average of $64.71 and a 200-day simple moving average of $62.20.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.07. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.78 billion. Molson Coors Beverage had a net margin of 6.83% and a return on equity of 8.89%. The firm’s revenue was up 6.1% on a year-over-year basis. During the same period in the prior year, the company earned $1.30 EPS. On average, analysts forecast that Molson Coors Beverage will post 5.66 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.44 dividend. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.41. This represents a $1.76 annualized dividend and a dividend yield of 2.72%. The ex-dividend date was Thursday, February 29th. Molson Coors Beverage’s payout ratio is currently 40.37%.

Insider Buying and Selling

In other news, CFO Tracey Joubert sold 2,771 shares of the firm’s 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 transaction, the chief financial officer now owns 60,538 shares of the company’s stock, valued at approximately $3,654,679.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.71% of the company’s stock.

Institutional Trading of Molson Coors Beverage

Large investors have recently added to or reduced their stakes in the stock. Quarry LP purchased a new stake in shares of Molson Coors Beverage in the second quarter worth about $25,000. Tennessee Valley Asset Management Partners purchased a new position in Molson Coors Beverage in the 4th quarter worth approximately $29,000. Montag A & Associates Inc. acquired a new stake in Molson Coors Beverage in the fourth quarter valued at approximately $31,000. Salem Investment Counselors Inc. purchased a new stake in shares of Molson Coors Beverage during the third quarter valued at approximately $32,000. Finally, Stone House Investment Management LLC acquired a new position in shares of Molson Coors Beverage during the third quarter worth $32,000. 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.