Molson Coors Beverage (NYSE:TAP) PT Raised to $65.00

Molson Coors Beverage (NYSE:TAP) had its target price upped by Deutsche Bank Aktiengesellschaft from $64.00 to $65.00 in a report released on Wednesday morning, Benzinga reports. The brokerage currently has a hold rating on the stock.

Other equities analysts also recently issued research reports about the company. Piper Sandler initiated coverage on Molson Coors Beverage in a report on Friday, March 22nd. They set a neutral rating and a $69.00 target price for the company. StockNews.com upgraded Molson Coors Beverage from a hold rating to a buy rating in a report on Friday, April 12th. TheStreet upgraded Molson Coors Beverage from a c rating to a b- rating in a report on Tuesday, February 13th. Barclays upped their target price on Molson Coors Beverage from $65.00 to $67.00 and gave the company an equal weight rating in a report on Friday, April 12th. Finally, The Goldman Sachs Group upgraded Molson Coors Beverage from a neutral rating to a buy rating and upped their target price for the company from $66.00 to $75.00 in a report on Tuesday, April 9th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $68.73.

Molson Coors Beverage Stock Performance

NYSE:TAP opened at $64.23 on Wednesday. The firm has a market cap of $13.85 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 2.21 and a beta of 0.84. Molson Coors Beverage has a fifty-two week low of $55.67 and a fifty-two week high of $70.90. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.70. The business has a 50 day moving average price of $64.98 and a 200-day moving average price of $62.23.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Tuesday, February 13th. The company reported $1.19 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.07. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.78 billion. Molson Coors Beverage had a return on equity of 8.89% and a net margin of 6.83%. The business’s quarterly revenue was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.30 earnings per share. Equities research analysts predict that Molson Coors Beverage will post 5.67 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were paid a $0.44 dividend. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.41. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.74%. The ex-dividend date of this dividend was Thursday, February 29th. Molson Coors Beverage’s dividend payout ratio is currently 40.37%.

Insider Transactions at Molson Coors Beverage

In other news, CFO Tracey Joubert sold 2,771 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $60.37, for a total value of $167,285.27. Following the sale, the chief financial officer now directly owns 60,538 shares of the company’s stock, valued at $3,654,679.06. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 2.71% of the company’s stock.

Institutional Investors Weigh In On Molson Coors Beverage

Institutional investors have recently modified their holdings of the stock. Quarry LP purchased a new stake in shares of Molson Coors Beverage in the second quarter worth $25,000. Tennessee Valley Asset Management Partners purchased a new stake in shares of Molson Coors Beverage during the fourth quarter valued at $29,000. Stone House Investment Management LLC purchased a new stake in shares of Molson Coors Beverage during the third quarter valued at $32,000. Montag A & Associates Inc. purchased a new stake in shares of Molson Coors Beverage during the fourth quarter valued at $31,000. Finally, Raleigh Capital Management Inc. boosted its position in shares of Molson Coors Beverage by 2,087.5% during the fourth quarter. Raleigh Capital Management Inc. now owns 525 shares of the company’s stock valued at $32,000 after buying an additional 501 shares during the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

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.