Stocks of Molson Coors Beverage Company (NYSE:TAP) traded higher last session on Wall Street, down -1.82% to $51.38.
TAP stock price is now -1.01% away from the 50-day moving average and -3.22% away from the 200-day moving average. The market capitalization of the company currently stands at $10.39B.
With the price target maintained at $50, Deutsche Bank recently Downgraded its rating from Hold to Sell for Molson Coors Beverage Company (NYSE: TAP). On October 11, 2022, Wedbush recently initiated its ‘Neutral’ rating on the stock quoting a target price of $50, while ‘Bryan Garnier’ rates the stock as ‘Sell’.
In other news, Winnefeld James A Jr, Director bought 200 shares of the company’s stock on Aug 03. The stock was bought for $10,690 at an average price of $53.45. Upon completion of the transaction, the Director now directly owns 13,226 shares in the company, valued at $0.68 million. Insiders disposed of 19,346 shares of company stock worth roughly $0.99 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in TAP stock. A new stake in Molson Coors Beverage Company shares was purchased by KNIGHTSBRIDGE ASSET MANAGEMENT, LLC during the first quarter worth $8,331,000. CITADEL ADVISORS LLC invested $8,075,000 in shares of TAP during the first quarter. In the first quarter, SQUAREPOINT OPS LLC acquired a new stake in Molson Coors Beverage Company valued at approximately $5,705,000. PARALLAX VOLATILITY ADVISERS, L.P. acquired a new stake in TAP for approximately $5,298,000. SUSQUEHANNA FUNDAMENTAL INVESTMENTS, LLC purchased a new stake in TAP valued at around $3,959,000 in the second quarter. In total, there are 861 active investors with 87.20% ownership of the company’s stock.
Wednesday’s opening bell rang with an opening price of $52.25 for Molson Coors Beverage Company (NYSE: TAP). During the past 12 months, Molson Coors Beverage Company has had a low of $45.42 and a high of $60.12. As of last week, the company has a debt-to-equity ratio of 0.50, a current ratio of 0.80, and a quick ratio of 0.50. The fifty day moving average price for TAP is $51.90 and a two-hundred day moving average price translates $53.09 for the stock.
The latest earnings results from Molson Coors Beverage Company (NYSE: TAP) was released for Jun, 2022. According to the Beverages – Brewers Company, earnings per share came in at $1.19, inline with analysts’ expectations of $1.19. This compares to $2.09 EPS in the same period last year. The net profit margin was 4.60% and return on equity was 3.70% for TAP. The company reported revenue of $2.94 billion for the quarter, compared to $2.82 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 3.99 percent. For the current quarter, analysts expect TAP to generate $2.89B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 12/15/2022. Investors who held shares on 12/02/2022 were paid a $0.38 dividend. On an annualized basis, this represents a $1.52 dividend and a 2.96% percent yield. There was an ex-dividend date of 12/01/2022 for this dividend. In terms of dividend payout ratio, TAP is presently at 64.90%.
Molson Coors Beverage Company(TAP) Company Profile
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. Molson Coors Beverage Company was founded in 1774 and is based in Golden, Colorado.