Fintel reports that on October 4, 2023, Roth MKM reiterated coverage of Molson Coors Beverage Company - Class B (NYSE:TAP) with a Buy recommendation.
Analyst Price Forecast Suggests 12.68% Upside
As of August 31, 2023, the average one-year price target for Molson Coors Beverage Company - Class B is 69.89. The forecasts range from a low of 54.54 to a high of $80.85. The average price target represents an increase of 12.68% from its latest reported closing price of 62.02.
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The projected annual revenue for Molson Coors Beverage Company - Class B is 11,038MM, a decrease of 1.25%. The projected annual non-GAAP EPS is 4.16.
Molson Coors Beverage Company - Class B Declares $0.41 Dividend
On July 13, 2023 the company declared a regular quarterly dividend of $0.41 per share ($1.64 annualized). Shareholders of record as of September 1, 2023 received the payment on September 15, 2023. Previously, the company paid $0.41 per share.
At the current share price of $62.02 / share, the stock's dividend yield is 2.64%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.20%, the lowest has been 2.35%, and the highest has been 6.60%. The standard deviation of yields is 0.83 (n=181).
The current dividend yield is 0.67 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 8.69. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
What is the Fund Sentiment?
There are 1247 funds or institutions reporting positions in Molson Coors Beverage Company - Class B. This is an increase of 66 owner(s) or 5.59% in the last quarter. Average portfolio weight of all funds dedicated to TAP is 0.25%, an increase of 17.32%. Total shares owned by institutions decreased in the last three months by 5.75% to 198,852K shares. 
The put/call ratio of TAP is 0.38, indicating a bullish outlook.
What are Other Shareholders Doing?
Dodge & Cox holds 18,153K shares representing 8.40% ownership of the company. In it's prior filing, the firm reported owning 28,120K shares, representing a decrease of 54.90%. The firm decreased its portfolio allocation in TAP by 19.46% over the last quarter.
DODGX - Dodge & Cox Stock Fund holds 12,985K shares representing 6.01% ownership of the company. In it's prior filing, the firm reported owning 19,065K shares, representing a decrease of 46.83%. The firm decreased its portfolio allocation in TAP by 16.81% over the last quarter.
Lsv Asset Management holds 6,983K shares representing 3.23% ownership of the company. In it's prior filing, the firm reported owning 7,393K shares, representing a decrease of 5.88%. The firm increased its portfolio allocation in TAP by 18.29% over the last quarter.
Capital International Investors holds 6,886K shares representing 3.19% ownership of the company. In it's prior filing, the firm reported owning 6,873K shares, representing an increase of 0.19%. The firm increased its portfolio allocation in TAP by 19.72% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 5,617K shares representing 2.60% ownership of the company. In it's prior filing, the firm reported owning 5,568K shares, representing an increase of 0.87%. The firm increased its portfolio allocation in TAP by 18.58% over the last quarter.
Molson Coors Beverage Background Information
(This description is provided by the company.)
For over two centuries Molson Coors has been brewing beverages that unite people for all of life’s moments. From Coors Light, Miller Lite, Molson Canadian, Carling, and Staropramen to Coors Banquet, Blue Moon Belgian White, Blue Moon LightSky, Vizzy, Leinenkugel’s Summer Shandy, Creemore Springs and more, Molson Coors produces some of the most beloved and iconic beer brands ever made. While the company’s history is rooted in beer, Molson Coors offers a modern portfolio that expands beyond the beer aisle as well. The company’s commitment to raising industry standards and leaving a positive imprint on its employees, consumers, communities and the environment is reflected in its Imprint and its 2025 sustainability targets.
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