Molson Coors Beverage (NYSE:TAP – Get Rating) declared a quarterly dividend on Thursday, May 19th, Zacks reports. Investors of record on Friday, June 3rd will be paid a dividend of 0.38 per share on Wednesday, June 15th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.97%. The ex-dividend date of this dividend is Thursday, June 2nd.
Molson Coors Beverage has decreased its dividend by an average of 25.4% per year over the last three years and has raised its dividend annually for the last 1 consecutive years. Molson Coors Beverage has a dividend payout ratio of 35.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Molson Coors Beverage to earn $4.31 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 35.3%.
Shares of NYSE TAP opened at $51.23 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.81 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $11.11 billion, a price-to-earnings ratio of 10.37, a PEG ratio of 2.68 and a beta of 0.85. The stock’s fifty day simple moving average is $53.62 and its 200 day simple moving average is $50.00. Molson Coors Beverage has a 52-week low of $42.46 and a 52-week high of $61.48.
Molson Coors Beverage (NYSE:TAP – Get Rating) last issued its earnings results on Tuesday, May 3rd. The company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.10. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.14 billion. Molson Coors Beverage had a return on equity of 7.12% and a net margin of 8.36%. The company’s quarterly revenue was up 16.7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.01 EPS. As a group, analysts anticipate that Molson Coors Beverage will post 4 earnings per share for the current year.
TAP has been the subject of several recent analyst reports. Morgan Stanley raised their target price on Molson Coors Beverage from $49.00 to $51.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 24th. Zacks Investment Research raised Molson Coors Beverage from a “sell” rating to a “hold” rating and set a $57.00 target price for the company in a research report on Thursday, April 28th. Deutsche Bank Aktiengesellschaft raised their target price on Molson Coors Beverage from $49.00 to $51.00 in a research report on Wednesday, April 27th. StockNews.com began coverage on Molson Coors Beverage in a research report on Thursday, March 31st. They issued a “hold” rating for the company. Finally, Citigroup lifted their price objective on Molson Coors Beverage from $58.00 to $61.00 in a research report on Friday, May 6th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $54.33.
Several large investors have recently made changes to their positions in TAP. Vanguard Group Inc. lifted its position in shares of Molson Coors Beverage by 6.1% in the first quarter. Vanguard Group Inc. now owns 21,329,879 shares of the company’s stock worth $1,138,589,000 after buying an additional 1,235,013 shares during the last quarter. BlackRock Inc. lifted its position in shares of Molson Coors Beverage by 4.2% in the fourth quarter. BlackRock Inc. now owns 18,003,081 shares of the company’s stock worth $834,439,000 after buying an additional 719,698 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Molson Coors Beverage by 10.8% in the first quarter. Dimensional Fund Advisors LP now owns 3,216,836 shares of the company’s stock worth $171,722,000 after buying an additional 312,326 shares during the last quarter. Morgan Stanley lifted its position in shares of Molson Coors Beverage by 12.3% in the second quarter. Morgan Stanley now owns 1,588,230 shares of the company’s stock worth $85,272,000 after buying an additional 173,457 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in shares of Molson Coors Beverage by 22.3% in the fourth quarter. Wells Fargo & Company MN now owns 877,672 shares of the company’s stock worth $40,680,000 after buying an additional 160,173 shares during the last quarter. 79.62% of the stock is owned by institutional investors.
About Molson Coors Beverage (Get Rating)
Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, Middle East, Africa, and Asia Pacific. It offers flavored malt beverages, craft, and ready to drink beverages. The company was formerly known as Molson Coors Brewing Company and changed its name to Molson Coors Beverage Company in January 2020.
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