Molson Coors Beverage (NYSE:TAP) Sees Strong Trading Volume – Still a Buy?

Molson Coors Beverage ( NYSE:TAP – Get Free Report ) saw unusually-strong trading volume on Friday . Approximately 459,102 shares changed hands during mid-day trading, a decline of 32% from the previous session’s volume of 675,410 shares.The stock last traded at $55.

18 and had previously closed at $57.20. Wall Street Analyst Weigh In A number of brokerages recently issued reports on TAP.



JPMorgan Chase & Co. increased their price objective on Molson Coors Beverage from $57.00 to $60.

00 and gave the stock a “neutral” rating in a report on Friday, October 18th. BNP Paribas started coverage on shares of Molson Coors Beverage in a report on Monday, November 25th. They issued a “neutral” rating and a $64.

00 price target on the stock. Bank of America raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $57.00 to $70.

00 in a research note on Friday, December 6th. Hsbc Global Res cut shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. Finally, Needham & Company LLC assumed coverage on shares of Molson Coors Beverage in a report on Friday, December 6th.

They issued a “buy” rating and a $72.00 price target on the stock. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock.

Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $62.00.

Check Out Our Latest Analysis on Molson Coors Beverage Molson Coors Beverage Stock Performance Molson Coors Beverage ( NYSE:TAP – Get Free Report ) last released its earnings results on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, beating analysts’ consensus estimates of $1.

67 by $0.13. Molson Coors Beverage had a return on equity of 9.

24% and a net margin of 6.78%. The company had revenue of $3.

04 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the previous year, the company posted $1.

92 EPS. Molson Coors Beverage’s revenue for the quarter was down 7.8% on a year-over-year basis.

On average, equities research analysts predict that Molson Coors Beverage will post 5.78 EPS for the current fiscal year. Molson Coors Beverage Announces Dividend The firm also recently declared a quarterly dividend, which was paid on Friday, December 20th.

Investors of record on Friday, December 6th were issued a dividend of $0.44 per share. The ex-dividend date was Friday, December 6th.

This represents a $1.76 dividend on an annualized basis and a yield of 3.18%.

Molson Coors Beverage’s dividend payout ratio is presently 39.64%. Institutional Investors Weigh In On Molson Coors Beverage Several institutional investors and hedge funds have recently bought and sold shares of TAP.

Commonwealth Equity Services LLC lifted its stake in Molson Coors Beverage by 4.9% in the second quarter. Commonwealth Equity Services LLC now owns 120,424 shares of the company’s stock worth $6,121,000 after acquiring an additional 5,579 shares during the period.

TD Asset Management Inc boosted its stake in shares of Molson Coors Beverage by 8.0% during the 2nd quarter. TD Asset Management Inc now owns 53,346 shares of the company’s stock valued at $2,712,000 after purchasing an additional 3,936 shares in the last quarter.

National Bank of Canada FI increased its position in shares of Molson Coors Beverage by 3.2% during the second quarter. National Bank of Canada FI now owns 243,402 shares of the company’s stock valued at $12,315,000 after buying an additional 7,580 shares during the period.

Private Advisor Group LLC raised its stake in Molson Coors Beverage by 0.9% in the second quarter. Private Advisor Group LLC now owns 31,803 shares of the company’s stock worth $1,617,000 after buying an additional 295 shares in the last quarter.

Finally, Wakefield Asset Management LLLP lifted its holdings in Molson Coors Beverage by 124.5% in the second quarter. Wakefield Asset Management LLLP now owns 53,286 shares of the company’s stock worth $2,709,000 after buying an additional 29,552 shares during the period.

Hedge funds and other institutional investors own 78.46% of the company’s stock. About Molson Coors Beverage ( Get Free Report ) 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. Featured Stories Receive News & Ratings for Molson Coors Beverage Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Molson Coors Beverage and related companies with MarketBeat.com's FREE daily email newsletter .

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