Molson Coors Beverage (NYSE:TAP) Research Coverage Started at BNP Paribas

BNP Paribas initiated coverage on shares of Molson Coors Beverage (NYSE:TAP) in a research report released on Monday morning, MarketBeat reports. The brokerage issued a neutral rating and a $64.00 price target on the stock.

A number of other equities analysts have also recently weighed in on the company. Wells Fargo & Company upgraded Molson Coors Beverage from an “underweight” rating to an “overweight” rating and upped their price target for the stock from $52.00 to $74.00 in a report on Friday, November 8th. TD Cowen cut their price objective on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a report on Tuesday, October 8th. UBS Group upped their price objective on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lifted their target price on Molson Coors Beverage from $56.00 to $57.00 and gave the stock a “hold” rating in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. increased their price target on Molson Coors Beverage from $57.00 to $60.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $60.57.

Molson Coors Beverage Stock Performance

NYSE:TAP opened at $61.23 on Monday. The firm’s fifty day simple moving average is $57.05 and its 200 day simple moving average is $54.46. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The firm has a market capitalization of $12.61 billion, a price-to-earnings ratio of 13.83, a PEG ratio of 2.35 and a beta of 0.82.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Thursday, November 7th. The company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.13. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The company had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter in the previous year, the firm posted $1.92 earnings per share. The firm’s quarterly revenue was down 7.8% on a year-over-year basis. As a group, equities research analysts expect that Molson Coors Beverage will post 5.78 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, December 6th will be given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend is Friday, December 6th. Molson Coors Beverage’s dividend payout ratio is currently 39.64%.

Institutional Trading of Molson Coors Beverage

Several institutional investors have recently added to or reduced their stakes in TAP. Lazard Asset Management LLC lifted its position in shares of Molson Coors Beverage by 6,659.2% in the 1st quarter. Lazard Asset Management LLC now owns 101,928 shares of the company’s stock worth $6,854,000 after buying an additional 100,420 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Molson Coors Beverage by 22.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 307,393 shares of the company’s stock valued at $20,673,000 after acquiring an additional 56,584 shares during the period. Janus Henderson Group PLC grew its holdings in shares of Molson Coors Beverage by 144.6% during the first quarter. Janus Henderson Group PLC now owns 73,909 shares of the company’s stock valued at $4,969,000 after purchasing an additional 43,696 shares during the last quarter. Redwood Investment Management LLC bought a new position in shares of Molson Coors Beverage during the first quarter valued at approximately $1,513,000. Finally, SkyView Investment Advisors LLC acquired a new stake in shares of Molson Coors Beverage during the 1st quarter worth approximately $997,000. Institutional investors own 78.46% of the company’s stock.

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.