Molson Coors Beverage (NYSE:TAP) Raised to “Equal Weight” at Barclays

Barclays upgraded shares of Molson Coors Beverage (NYSE:TAP) from an underweight rating to an equal weight rating in a research report released on Thursday morning, Marketbeat.com reports. The brokerage currently has $62.00 target price on the stock, up from their prior target price of $56.00.

A number of other equities analysts also recently issued reports on TAP. StockNews.com downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Friday, February 21st. JPMorgan Chase & Co. lowered their target price on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. 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 target on the stock. Morgan Stanley increased their price objective on Molson Coors Beverage from $60.00 to $63.00 and gave the stock an “equal weight” rating in a report on Friday, February 14th. Finally, Bank of America upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their target price for the company from $57.00 to $70.00 in a report on Friday, December 6th. Eleven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Molson Coors Beverage currently has an average rating of “Hold” and an average price target of $63.67.

Molson Coors Beverage Price Performance

TAP opened at $58.85 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. The stock has a market capitalization of $11.92 billion, a PE ratio of 11.00, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81. The stock’s 50 day moving average price is $57.05 and its 200-day moving average price is $57.30. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.13. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.71 billion. On average, equities research analysts predict that Molson Coors Beverage will post 6.35 EPS for the current year.

Molson Coors Beverage Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Thursday, February 27th will be paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 3.19%. The ex-dividend date is Thursday, February 27th. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.44. Molson Coors Beverage’s dividend payout ratio is currently 35.14%.

Institutional Investors Weigh In On Molson Coors Beverage

Several institutional investors and hedge funds have recently made changes to their positions in the company. Truvestments Capital LLC boosted its stake in Molson Coors Beverage by 51.4% during the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock valued at $34,000 after purchasing an additional 202 shares during the last quarter. Ashton Thomas Securities LLC bought a new position in shares of Molson Coors Beverage during the third quarter valued at $35,000. CoreCap Advisors LLC boosted its position in shares of Molson Coors Beverage by 10,716.7% during the fourth quarter. CoreCap Advisors LLC now owns 649 shares of the company’s stock valued at $37,000 after buying an additional 643 shares during the last quarter. Quarry LP boosted its position in shares of Molson Coors Beverage by 55.1% during the fourth quarter. Quarry LP now owns 715 shares of the company’s stock valued at $41,000 after buying an additional 254 shares during the last quarter. Finally, Gladius Capital Management LP bought a new stake in Molson Coors Beverage in the 3rd quarter worth about $42,000. Institutional investors own 78.46% of the company’s stock.

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.