Needham & Company LLC Begins Coverage on Molson Coors Beverage (NYSE:TAP)

Needham & Company LLC assumed coverage on shares of Molson Coors Beverage (NYSE:TAP) in a research note issued to investors on Friday, MarketBeat Ratings reports. The brokerage issued a buy rating and a $72.00 target price on the stock.

Several other research analysts have also issued reports on the stock. Barclays lifted their price target on shares of Molson Coors Beverage from $49.00 to $51.00 and gave the stock an “underweight” rating in a research report on Monday, November 11th. BNP Paribas assumed coverage on shares of Molson Coors Beverage in a report on Monday, November 25th. They issued a “neutral” rating and a $64.00 target price for the company. Hsbc Global Res downgraded shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. Wells Fargo & Company upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and upped their price target for the company from $52.00 to $74.00 in a research report on Friday, November 8th. Finally, TD Cowen lowered 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 research report on Tuesday, October 8th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, Molson Coors Beverage presently has a consensus rating of “Hold” and a consensus price target of $62.00.

Molson Coors Beverage Trading Down 0.4 %

Shares of Molson Coors Beverage stock opened at $61.13 on Friday. The business has a fifty day simple moving average of $58.05 and a 200-day simple moving average of $54.73. The firm has a market cap of $12.59 billion, a price-to-earnings ratio of 13.77, a price-to-earnings-growth ratio of 2.39 and a beta of 0.85. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46.

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

Molson Coors Beverage Announces Dividend

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 paid a $0.44 dividend. The ex-dividend date of this dividend is Friday, December 6th. This represents a $1.76 annualized dividend and a dividend yield of 2.88%. Molson Coors Beverage’s payout ratio is 39.64%.

Institutional Trading of Molson Coors Beverage

A number of institutional investors have recently added to or reduced their stakes in the business. Family Firm Inc. acquired a new stake in shares of Molson Coors Beverage in the 2nd quarter valued at $26,000. Altshuler Shaham Ltd bought a new stake in shares of Molson Coors Beverage during the 2nd quarter worth about $27,000. GPS Wealth Strategies Group LLC increased its holdings in shares of Molson Coors Beverage by 83.8% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock valued at $33,000 after acquiring an additional 294 shares during the last quarter. Ashton Thomas Securities LLC acquired a new position in shares of Molson Coors Beverage during the 3rd quarter valued at about $35,000. Finally, Gladius Capital Management LP acquired a new stake in Molson Coors Beverage in the 3rd quarter worth approximately $42,000. 78.46% of the stock is currently owned by institutional investors and hedge funds.

About Molson Coors Beverage

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.