Molson Coors Beverage (NYSE:TAP) Price Target Lowered to $48.00 at Barclays

Molson Coors Beverage (NYSE:TAP) had its price target trimmed by Barclays from $51.00 to $48.00 in a report issued on Friday morning,Benzinga reports. The brokerage currently has an underweight rating on the stock.

Several other equities analysts have also recently issued reports on the stock. UBS Group lowered their price objective on shares of Molson Coors Beverage from $60.00 to $58.00 and set a “neutral” rating on the stock in a research note on Thursday. Bank of America upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $57.00 to $70.00 in a research report on Friday, December 6th. BNP Paribas assumed coverage on Molson Coors Beverage in a research report on Monday, November 25th. They set a “neutral” rating and a $64.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and upped their target price for the company from $52.00 to $74.00 in a report on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $61.79.

Molson Coors Beverage Stock Performance

TAP opened at $55.33 on Friday. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The company has a market capitalization of $11.40 billion, a price-to-earnings ratio of 12.46, a price-to-earnings-growth ratio of 1.96 and a beta of 0.86. The business has a 50 day moving average price of $59.10 and a two-hundred day moving average price of $55.89. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.74.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results 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. The business had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The company’s quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter last year, the business posted $1.92 earnings per share. Research analysts predict that Molson Coors Beverage will post 5.79 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Shareholders of record on Friday, December 6th were paid a $0.44 dividend. The ex-dividend date of this dividend was Friday, December 6th. This represents a $1.76 annualized dividend and a yield of 3.18%. Molson Coors Beverage’s dividend payout ratio is presently 39.64%.

Institutional Investors Weigh In On Molson Coors Beverage

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