Molson Coors Beverage (NYSE:TAP) will issue a quarterly dividend of $0.38
Molson Coors Beverages (NYSE:TAP – Get Rating) declared a quarterly dividend on Thursday, May 19, Zacks reports. Shareholders of record on Friday June 3 will receive a dividend of 0.38 per share on Wednesday June 15. This represents an annualized dividend of $1.52 and a yield of 2.97%. The ex-date of this dividend is Thursday, June 2.
Molson Coors Beverage has decreased its dividend by an average of 25.4% annually over the past three years and has increased its dividend annually for the past 1 consecutive years. Molson Coors Beverage has a payout ratio of 35.7%, which means its dividend is sufficiently covered by earnings. Analysts expect Molson Coors Beverage to earn $4.31 per share next year, meaning the company should continue to be able to cover its $1.52 annual dividend with a payout ratio. expected future of 35.3%.
Shares of Molson Coors Beverage opened at $51.23 on Friday. Molson Coors Beverage has a 1-year low of $42.46 and a 1-year high of $61.48. The company has a debt ratio of 0.48, a quick ratio of 0.54 and a current ratio of 0.81. The company has a market capitalization of $11.11 billion, a P/E ratio of 10.37, a PEG ratio of 2.68 and a beta of 0.85. The company’s fifty-day moving average is $53.62 and its two-hundred-day moving average is $50.00.
Molson Coors Beverage (NYSE:TAP – Get Rating) last released its results on Tuesday, May 3. The company reported EPS of $0.29 for the quarter, beating the consensus estimate of $0.19 by $0.10. Molson Coors Beverage achieved a net margin of 8.36% and a return on equity of 7.12%. The company posted revenue of $2.21 billion in the quarter, versus $2.14 billion expected by analysts. In the same quarter last year, the company achieved EPS of $0.01. The company’s revenue increased 16.7% year over year. As a group, stock analysts expect Molson Coors Beverage to post 4 earnings per share for the current year.
Several research companies have recently commented on TAP. TheStreet downgraded shares of Molson Coors Beverage from a “c” rating to a “b-” rating in a Wednesday, February 23 research note. Citigroup raised its price target on shares of Molson Coors Beverage from $58.00 to $61.00 in a Friday, May 6 research note. Deutsche Bank Aktiengesellschaft raised its price target on Molson Coors Beverage shares from $49.00 to $51.00 in a Wednesday, April 27 research note. Sanford C. Bernstein reduced shares of Molson Coors Beverage from an “outperform” rating to a “market perform” rating and set a price target of $59.00 for the company. in a research note on Tuesday. Finally, Zacks Investment Research upgraded shares of Molson Coors Beverage from a “sell” rating to a “hold” rating and set a price target of $57.00 for the company in a Thursday, April 28 research note. . One equity research analyst gave the stock a sell rating, seven gave the company a hold rating and two gave the company a buy rating. Based on data from MarketBeat, Molson Coors Beverage currently has an average rating of “Hold” and an average target price of $54.33.
Several hedge funds and other institutional investors have recently changed their holdings of TAP. Lazard Asset Management LLC increased its holdings of Molson Coors Beverage shares by 96.4% in the first quarter. Lazard Asset Management LLC now owns 760 shares of the company worth $40,000 after buying 373 additional shares in the last quarter. Geneos Wealth Management Inc. increased its stake in Molson Coors Beverage by 1,171.4% in the first quarter. Geneos Wealth Management Inc. now owns 3,776 shares of the company valued at $201,000 after purchasing an additional 3,479 shares during the period. US Bancorp DE increased its stake in Molson Coors Beverage by 45.7% in the first quarter. US Bancorp DE now owns 3,834 shares of the company valued at $205,000 after purchasing an additional 1,203 shares during the period. Forum Financial Management LP acquired a new stake in Molson Coors Beverage in the fourth quarter valued at approximately $211,000. Finally, Cetera Investment Advisers acquired a new stake in Molson Coors Beverage in the fourth quarter valued at approximately $242,000. Institutional investors and hedge funds hold 79.62% of the company’s shares.
About Molson Coors Beverages (Get an evaluation)
Molson Coors Beverage Company manufactures, markets and sells beer and other malt beverages under various brands in the Americas, Europe, Middle East, Africa and Asia-Pacific. It offers flavored, artisanal and ready-to-drink malt beverages. The business was previously known as Molson Coors Brewing Company and changed its name to Molson Coors Beverage Company in January 2020.
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