Molson Coors Beverage (NYSE:TAP) Shares Gap Up to $51.13

Molson Coors Beverage (NYSE:TAP) shares gapped up prior to trading on Tuesday . The stock had previously closed at $51.13, but opened at $54.41. Molson Coors Beverage shares last traded at $53.80, with a volume of 564,985 shares changing hands.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Jefferies Financial Group cut their price target on Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating for the company in a report on Thursday, July 18th. The Goldman Sachs Group raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and upped their price objective for the company from $66.00 to $75.00 in a research report on Tuesday, April 9th. UBS Group cut their target price on Molson Coors Beverage from $70.00 to $64.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. StockNews.com lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Thursday, May 2nd. Finally, Citigroup cut their target price on shares of Molson Coors Beverage from $53.00 to $47.00 and set a “sell” rating on the stock in a research report on Wednesday, July 10th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $60.29.

Molson Coors Beverage Stock Up 7.0 %

The firm has a fifty day moving average of $51.80 and a 200-day moving average of $58.77. The company has a quick ratio of 0.47, a current ratio of 0.69 and a debt-to-equity ratio of 0.40. The firm has a market cap of $11.59 billion, a P/E ratio of 10.98, a price-to-earnings-growth ratio of 2.26 and a beta of 0.81.

Molson Coors Beverage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, August 30th will be paid a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend is Friday, August 30th. Molson Coors Beverage’s dividend payout ratio is currently 35.20%.

Institutional Trading of Molson Coors Beverage

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Czech National Bank boosted its stake in shares of Molson Coors Beverage by 0.5% during the 1st quarter. Czech National Bank now owns 32,580 shares of the company’s stock worth $2,191,000 after acquiring an additional 149 shares during the period. Kestra Private Wealth Services LLC raised its position in shares of Molson Coors Beverage by 1.5% in the fourth quarter. Kestra Private Wealth Services LLC now owns 11,589 shares of the company’s stock valued at $709,000 after purchasing an additional 174 shares during the period. Venturi Wealth Management LLC lifted its stake in shares of Molson Coors Beverage by 46.6% during the 1st quarter. Venturi Wealth Management LLC now owns 585 shares of the company’s stock worth $39,000 after buying an additional 186 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its holdings in shares of Molson Coors Beverage by 1.8% during the 4th quarter. Linden Thomas Advisory Services LLC now owns 11,607 shares of the company’s stock worth $710,000 after buying an additional 200 shares during the period. Finally, Kentucky Retirement Systems grew its stake in Molson Coors Beverage by 1.5% in the 4th quarter. Kentucky Retirement Systems now owns 14,815 shares of the company’s stock valued at $907,000 after buying an additional 221 shares during the last quarter. 78.46% of the stock is owned by 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.