Molson Coors Beverage (NYSE:TAP) Stock Price Up 4.8% – Time to Buy?

Molson Coors Beverage Company (NYSE:TAP)’s share price traded up 4.8% during trading on Tuesday . The stock traded as high as $40.74 and last traded at $40.7410. Approximately 675,823 shares were traded during mid-day trading, a decline of 79% from the average session volume of 3,170,255 shares. The stock had previously closed at $38.86.

Analysts Set New Price Targets

TAP has been the subject of several research analyst reports. TD Cowen upgraded Molson Coors Beverage to a “hold” rating in a research report on Friday, June 26th. Sanford C. Bernstein lowered their price target on Molson Coors Beverage from $74.00 to $45.00 and set a “market perform” rating on the stock in a report on Tuesday, May 26th. Zacks Research upgraded Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a research note on Monday, April 13th. Evercore cut their price objective on shares of Molson Coors Beverage from $50.00 to $47.00 and set an “outperform” rating for the company in a report on Tuesday, April 21st. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $42.00 price objective on shares of Molson Coors Beverage in a research report on Friday, May 1st. Four equities research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Molson Coors Beverage has a consensus rating of “Hold” and an average price target of $44.76.

Molson Coors Beverage Stock Down 1.1%

The company has a quick ratio of 0.38, a current ratio of 0.54 and a debt-to-equity ratio of 0.38. The stock has a market capitalization of $7.28 billion, a P/E ratio of -3.65 and a beta of 0.42. The company has a fifty day moving average price of $40.68 and a 200-day moving average price of $44.60.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Friday, May 1st. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.26. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.33 billion. Molson Coors Beverage had a positive return on equity of 9.79% and a negative net margin of 16.14%.The firm’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the company earned $0.50 earnings per share. As a group, research analysts forecast that Molson Coors Beverage Company will post 4.8 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 29th were given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 4.9%. The ex-dividend date was Friday, May 29th. Molson Coors Beverage’s payout ratio is currently -18.05%.

Insider Transactions at Molson Coors Beverage

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,245 shares of the stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $42.50, for a total transaction of $52,912.50. Following the completion of the transaction, the director owned 9,871 shares in the company, valued at $419,517.50. This trade represents a 11.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 2.27% of the stock is currently owned by insiders.

Institutional Trading of Molson Coors Beverage

A number of large investors have recently made changes to their positions in the business. GoalVest Advisory LLC purchased a new position in Molson Coors Beverage in the fourth quarter worth about $25,000. SBI Securities Co. Ltd. raised its position in Molson Coors Beverage by 84.1% during the fourth quarter. SBI Securities Co. Ltd. now owns 534 shares of the company’s stock valued at $25,000 after purchasing an additional 244 shares during the period. Basepoint Wealth LLC purchased a new stake in Molson Coors Beverage during the fourth quarter valued at approximately $26,000. Smartleaf Asset Management LLC lifted its stake in shares of Molson Coors Beverage by 64.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock valued at $27,000 after purchasing an additional 221 shares during the last quarter. Finally, Larson Financial Group LLC lifted its stake in shares of Molson Coors Beverage by 551.1% in the 4th quarter. Larson Financial Group LLC now owns 612 shares of the company’s stock valued at $29,000 after purchasing an additional 518 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Company Profile

Molson Coors Beverage Company is a leading multinational brewing and beverage enterprise formed through the 2005 merger of Canada’s Molson and the United States’ Coors. The company develops, markets and distributes an array of alcoholic and non-alcoholic beverages, focusing primarily on beer and ready-to-drink products. Its portfolio spans flagship brands such as Coors Light, Molson Canadian and Miller Lite, alongside craft-style offerings like Blue Moon and global imports including Carling and Staropramen.

In addition to its core beer business, Molson Coors has expanded into adjacent categories to capture evolving consumer tastes.