Brokerages Set Molson Coors Beverage Company (NYSE:TAP) PT at $53.18

Shares of Molson Coors Beverage Company (NYSE:TAP) have earned a consensus rating of “Hold” from the eighteen ratings firms that are currently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. The average 1-year price objective among brokerages that have updated their coverage on the stock in the last year is $53.4313.

A number of analysts have recently commented on TAP shares. UBS Group boosted their price objective on shares of Molson Coors Beverage from $47.00 to $50.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Roth Mkm reiterated a “buy” rating and issued a $65.00 price target (down from $67.00) on shares of Molson Coors Beverage in a research note on Wednesday, November 5th. Needham & Company LLC reduced their price objective on shares of Molson Coors Beverage from $58.00 to $54.00 and set a “buy” rating for the company in a research note on Monday, November 3rd. JPMorgan Chase & Co. started coverage on Molson Coors Beverage in a report on Wednesday, November 5th. They issued a “neutral” rating and a $49.00 price objective for the company. Finally, Piper Sandler lowered their target price on Molson Coors Beverage from $52.00 to $50.00 and set a “neutral” rating on the stock in a research report on Friday, November 21st.

Institutional Trading of Molson Coors Beverage

Several institutional investors and hedge funds have recently added to or reduced their stakes in TAP. Caxton Associates LLP acquired a new position in shares of Molson Coors Beverage during the 1st quarter worth about $202,000. United Services Automobile Association bought a new position in Molson Coors Beverage during the first quarter worth about $215,000. Woodline Partners LP grew its holdings in Molson Coors Beverage by 38.7% during the first quarter. Woodline Partners LP now owns 14,546 shares of the company’s stock worth $885,000 after purchasing an additional 4,056 shares during the period. Geneos Wealth Management Inc. increased its position in Molson Coors Beverage by 32.9% during the first quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock worth $49,000 after buying an additional 198 shares during the last quarter. Finally, Aberdeen Group plc raised its stake in Molson Coors Beverage by 14.0% in the second quarter. Aberdeen Group plc now owns 191,462 shares of the company’s stock valued at $9,207,000 after buying an additional 23,460 shares during the period. 78.46% of the stock is owned by institutional investors.

Molson Coors Beverage Stock Down 4.3%

Shares of Molson Coors Beverage stock opened at $50.91 on Friday. The firm has a market cap of $10.06 billion, a PE ratio of -4.77 and a beta of 0.48. The business’s 50 day simple moving average is $48.74 and its 200 day simple moving average is $47.84. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.45 and a current ratio of 0.60. Molson Coors Beverage has a 52-week low of $42.94 and a 52-week high of $64.66.

Molson Coors Beverage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 19th. Stockholders of record on Friday, December 5th were paid a dividend of $0.47 per share. The ex-dividend date was Friday, December 5th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 3.7%. Molson Coors Beverage’s dividend payout ratio is currently -17.60%.

About Molson Coors Beverage

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.