Molson Coors Beverage (NYSE:TAP) Upgraded to “Hold” at TD Cowen

TD Cowen upgraded shares of Molson Coors Beverage (NYSE:TAP) to a hold rating in a research note released on Friday morning,Zacks.com reports.

A number of other research analysts also recently issued reports on TAP. Wall Street Zen downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Sanford C. Bernstein decreased their price target on shares of Molson Coors Beverage from $74.00 to $45.00 and set a “market perform” rating for the company in a research note on Tuesday, May 26th. Zacks Research raised Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. The Goldman Sachs Group raised their price target on shares of Molson Coors Beverage from $48.00 to $50.00 in a research report on Friday, May 1st. Finally, UBS Group cut their price objective on shares of Molson Coors Beverage from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $44.88.

Molson Coors Beverage Trading Up 2.2%

TAP opened at $41.44 on Friday. Molson Coors Beverage has a twelve month low of $38.04 and a twelve month high of $54.82. The company has a fifty day moving average of $41.34 and a 200-day moving average of $45.06. The stock has a market cap of $7.77 billion, a PE ratio of -3.89 and a beta of 0.41. The company has a quick ratio of 0.38, a current ratio of 0.54 and a debt-to-equity ratio of 0.38.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Friday, May 1st. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.26. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.33 billion. Molson Coors Beverage had a negative net margin of 16.14% and a positive return on equity of 9.79%. Molson Coors Beverage’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.50 earnings per share. On average, sell-side analysts predict that Molson Coors Beverage will post 4.8 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 29th were issued a $0.48 dividend. The ex-dividend date of this dividend was Friday, May 29th. This represents a $1.92 annualized dividend and a yield of 4.6%. Molson Coors Beverage’s dividend payout ratio (DPR) is -18.05%.

Insider Activity

In other news, Director Geoffrey E. Molson sold 1,245 shares of the business’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $42.50, for a total value of $52,912.50. Following the sale, the director owned 9,871 shares of the company’s stock, valued at $419,517.50. The trade was a 11.20% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 2.27% of the stock is currently owned by company insiders.

Institutional Trading of Molson Coors Beverage

Institutional investors have recently added to or reduced their stakes in the stock. GoalVest Advisory LLC purchased a new stake in shares of Molson Coors Beverage in the fourth quarter worth about $25,000. SBI Securities Co. Ltd. increased its position in shares of Molson Coors Beverage by 84.1% during the 4th quarter. SBI Securities Co. Ltd. now owns 534 shares of the company’s stock valued at $25,000 after purchasing an additional 244 shares during the last quarter. Basepoint Wealth LLC bought a new stake in shares of Molson Coors Beverage in the 4th quarter worth approximately $26,000. Smartleaf Asset Management LLC boosted its holdings in Molson Coors Beverage by 64.2% during the 2nd quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock valued at $27,000 after acquiring an additional 221 shares during the period. Finally, Larson Financial Group LLC raised its stake in shares of Molson Coors Beverage by 551.1% during the fourth quarter. Larson Financial Group LLC now owns 612 shares of the company’s stock valued at $29,000 after acquiring an additional 518 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

About Molson Coors Beverage

Molson Coors Beverage Company is a leading multinational brewing and beverage enterprise formed through the 2005 merger of Canada’s Molson and the United States’ Coors. The company develops, markets and distributes an array of alcoholic and non-alcoholic beverages, focusing primarily on beer and ready-to-drink products. Its portfolio spans flagship brands such as Coors Light, Molson Canadian and Miller Lite, alongside craft-style offerings like Blue Moon and global imports including Carling and Staropramen.

In addition to its core beer business, Molson Coors has expanded into adjacent categories to capture evolving consumer tastes.