StockNews.com Upgrades Molson Coors Beverage (NYSE:TAP) to Buy

StockNews.com upgraded shares of Molson Coors Beverage (NYSE:TAP) from a hold rating to a buy rating in a research note published on Monday.

TAP has been the subject of a number of other research reports. Barclays increased their target price on Molson Coors Beverage from $49.00 to $51.00 and gave the company an “underweight” rating in a report on Monday, November 11th. BNP Paribas initiated coverage on Molson Coors Beverage in a research note on Monday, November 25th. They issued a “neutral” rating and a $64.00 price objective for the company. Needham & Company LLC assumed coverage on Molson Coors Beverage in a report on Friday, December 6th. They issued a “buy” rating and a $72.00 price objective on the stock. Bank of America raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and upped their target price for the stock from $57.00 to $70.00 in a report on Friday, December 6th. Finally, Hsbc Global Res cut shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $62.00.

Molson Coors Beverage Price Performance

NYSE:TAP opened at $53.82 on Monday. 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 has a 52 week low of $49.19 and a 52 week high of $69.18. The stock’s 50-day moving average price is $59.33 and its 200-day moving average price is $55.82. The stock has a market capitalization of $11.09 billion, a PE ratio of 12.12, a price-to-earnings-growth ratio of 2.38 and a beta of 0.86.

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

Molson Coors Beverage Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.27%. The ex-dividend date was Friday, December 6th. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 39.64%.

Institutional Investors Weigh In On Molson Coors Beverage

Large investors have recently modified their holdings of the company. State Street Corp increased its holdings in shares of Molson Coors Beverage by 8.4% in the third quarter. State Street Corp now owns 8,792,196 shares of the company’s stock valued at $505,727,000 after purchasing an additional 681,757 shares during the period. Pacer Advisors Inc. increased its stake in Molson Coors Beverage by 66.5% in the 2nd quarter. Pacer Advisors Inc. now owns 5,397,223 shares of the company’s stock valued at $274,341,000 after buying an additional 2,155,842 shares during the period. Dimensional Fund Advisors LP raised its position in Molson Coors Beverage by 20.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,579,811 shares of the company’s stock worth $131,130,000 after buying an additional 434,685 shares during the last quarter. River Road Asset Management LLC lifted its stake in shares of Molson Coors Beverage by 1.8% in the 3rd quarter. River Road Asset Management LLC now owns 1,677,241 shares of the company’s stock worth $96,475,000 after acquiring an additional 29,315 shares during the period. Finally, Thompson Siegel & Walmsley LLC purchased a new stake in shares of Molson Coors Beverage in the third quarter valued at about $48,202,000. 78.46% of the stock is owned by institutional investors and hedge funds.

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.