Molson Coors Beverage Company (NYSE:TAP) Receives $44.76 Consensus Target Price from Analysts

Shares of Molson Coors Beverage Company (NYSE:TAP) have received an average recommendation of “Hold” from the nineteen analysts that are covering the stock, Marketbeat Ratings reports. Four equities research analysts have rated the stock with a sell recommendation, eleven have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $44.0588.

TAP has been the topic of several research analyst reports. Citigroup dropped their price objective on Molson Coors Beverage from $47.00 to $42.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 14th. BNP Paribas Exane decreased their target price on Molson Coors Beverage from $36.00 to $35.00 and set an “underperform” rating for the company in a research note on Wednesday, June 3rd. Sanford C. Bernstein lowered their price target on Molson Coors Beverage from $74.00 to $45.00 and set a “market perform” rating for the company in a report on Tuesday, May 26th. TD Cowen raised Molson Coors Beverage to a “hold” rating in a research report on Friday, June 26th. Finally, Barclays cut their price objective on Molson Coors Beverage from $43.00 to $41.00 and set an “underweight” rating on the stock in a report on Friday, May 1st.

Molson Coors Beverage Stock Up 0.0%

Shares of NYSE TAP opened at $40.93 on Monday. Molson Coors Beverage has a 52-week low of $38.04 and a 52-week high of $54.82. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.38 and a current ratio of 0.54. The stock has a market cap of $7.68 billion, a P/E ratio of -3.85 and a beta of 0.42. The firm has a 50 day moving average price of $40.29 and a 200 day moving average price of $44.26.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Friday, May 1st. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.26. The company had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.33 billion. Molson Coors Beverage had a negative net margin of 16.14% and a positive return on equity of 9.79%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period last year, the business posted $0.50 earnings per share. Analysts expect that Molson Coors Beverage will post 4.8 EPS for the current year.

Molson Coors Beverage Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, August 28th will be issued a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 4.7%. The ex-dividend date is Friday, August 28th. Molson Coors Beverage’s dividend payout ratio (DPR) is -18.05%.

Insiders Place Their Bets

In other news, Director Geoffrey E. Molson sold 1,245 shares of the company’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $42.50, for a total value 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 represents a 11.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.27% of the company’s stock.

Institutional Investors Weigh In On Molson Coors Beverage

Several large investors have recently made changes to their positions in the stock. Wedge Capital Management L L P NC raised its holdings in shares of Molson Coors Beverage by 9.5% during the second quarter. Wedge Capital Management L L P NC now owns 102,543 shares of the company’s stock worth $3,995,000 after acquiring an additional 8,862 shares during the period. Fulton Bank N.A. boosted its stake in Molson Coors Beverage by 22.1% in the 2nd quarter. Fulton Bank N.A. now owns 6,027 shares of the company’s stock worth $235,000 after purchasing an additional 1,089 shares during the period. Wilsey Asset Management Inc. increased its holdings in Molson Coors Beverage by 11.8% during the 2nd quarter. Wilsey Asset Management Inc. now owns 755,639 shares of the company’s stock worth $29,440,000 after purchasing an additional 79,913 shares in the last quarter. Red Spruce Capital LLC increased its holdings in Molson Coors Beverage by 68.0% during the 2nd quarter. Red Spruce Capital LLC now owns 40,036 shares of the company’s stock worth $1,560,000 after purchasing an additional 16,202 shares in the last quarter. Finally, CX Institutional raised its stake in shares of Molson Coors Beverage by 496.8% in the 2nd quarter. CX Institutional now owns 1,325 shares of the company’s stock valued at $52,000 after purchasing an additional 1,103 shares during the period. Institutional investors own 78.46% of the company’s stock.

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.