|Bid||55.71 x 800|
|Ask||56.43 x 800|
|Day's Range||55.56 - 56.92|
|52 Week Range||49.82 - 67.24|
|Beta (5Y Monthly)||0.75|
|PE Ratio (TTM)||79.04|
|Earnings Date||Feb 11, 2020|
|Forward Dividend & Yield||2.28 (4.02%)|
|Ex-Dividend Date||Nov 28, 2019|
|1y Target Est||55.76|
Molson Coors Beverage Co. (NYSE: TAP) announced Wednesday that it’s purchased Atwater Brewery of Detroit, marking the first time since 2016 that the now-Chicago-based company has acquired another brewery and offering a hint that the recently announced revitalization efforts under new CEO Gavin Hattersley could involve more M&A activity involving both independent breweries and non-beer makers. Atwater, a 23-year-old brewery known for its Vanilla Java Porter and other riffs on traditional beer styles, joins Molson Coors’ Tenth and Blake portfolio of craft-style beer makers that includes AC Golden Brewing of Colorado as well as brands like Terrapin Beer Col, Saint Archer Brewing Co. and Hop Valley Brewing Co. Company officials did not disclose terms of the transaction, which is expected to be completed in the coming months.
Molson Coors (TAP) announces the acquisition of Detroit-based Atwater Brewery. The company's objective is to ensure that beer is relished by customers across the markets.
Molson Coors Beverage Co . (NYSE: TAP ) said Wednesday it will buy craft beer maker Atwater Brewery as Molson continues to expand beyond its traditional mass-market offering and Atwater seeks to expand ...
Molson Coors Beverage Co.'s craft beer division, Tenth and Blake Beer Co., acquired Detroit-based brewery Atwater Brewery, which was founded in 1997 and has three Michigan locations in Detroit, Grosse Pointe Park and Grand Rapids.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Molson Coors Beverage Company and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
As every investor knows by now, the cannabis market was one of the biggest disappointments in recent memory. But among the major players, medical marijuana specialist Tilray (NASDAQ:TLRY) printed some of the ugliest technicals. Indeed, the 2019 price chart of Tilray stock resembles a near-linear decline to the doldrums. That said, can its recent and dramatic resurgence lead to a sustained recovery in 2020?Source: Jarretera / Shutterstock.com Admittedly, relatively few investors want to hear about cannabis right now. Although its 21% move from January's opening price is noteworthy and impressive, it doesn't detract from last year's painful implosion.In 2019, Tilray hemorrhaged almost 76% in the markets. Mathematically, we'll need to see more than a 300% move for stakeholders to break even with last January's opener.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThus, I can understand why observers are cynical and skeptical about the recent rally. Nevertheless, Tilray stock didn't move on simply dumb news. Instead, Wall Street clearly approved of the underlying company's efforts to reorganize its executive team.Currently, Tilray's CFO is Mark Castaneda, who will shift over to strategic business development. In his place will be Michael Kruteck, who previously held positions at Molson Coors Beverage (NYSE:TAP) and Pharmaca. Additionally, John Levin, formerly of Revlon (NYSE:REV), will join Tilray as its COO. * 10 Cheap Stocks to Buy Under $10 The hope is that the executive-level transition will spark a viable growth strategy. Plus, with Kruteck and Levin both levering substantial experience with consumer retail products, they can help maximize growth in what has been an extraordinarily challenging market.But should you gamble on Tilray stock because of this high-level recruitment? Unfortunately, shares remain risky so they're not appropriate for all. However, I can see a reasonable speculative case. Inefficiencies and Tilray StockAlthough Tilray has disappointed in the markets, on the financials, it's produced some impressive metrics. For instance, in its most recent earnings report for the third quarter, the cannabis firm generated $51.1 million, a more than five-fold increase against the year-ago quarter's haul, which was $10 million.Of course, net income losses widened, which worried stakeholders due to sustainability concerns. The trailing 12-month tally is at a loss of $132 million. Therefore, meaningful profitability seems a long way away.Still, if management can provide a rational framework for continued impressive growth and eventual profitability, the stock can realistically build off its recent surge. Combined with the new blood in the executive ranks, along with potential opportunities in the Canadian cannabis market, this embattled name can legitimately surprise folks.Contrary to commonly expressed criticisms, Canadian adult cannabis demand is robust despite ongoing supply chain issues from licensing backlogs. For instance, in calendar Q3 2019, nearly 5.2 million adults used marijuana. That's a sizable jump from the Q3 2018 figure of just under 4.6 million adults. And it's also a huge leap from the nearly 4.2 million adult users from Q1 2018. Click to Enlarge Source: Chart by Josh Enomoto For Tilray stock specifically, the Canadian price index for medical marijuana products has not only stabilized but has increased in recent quarters. I'd expect this trend to continue moving favorably as supply chain issues and social stigmas fade.Thus, the demand for Tilray's products is strong, even in the saturated Canadian market. So, what's keeping it from realizing its true potential? Again, it's the administrative backlog that has imposed severe inefficiencies in the retail market.The biggest example of this is the province of Ontario. Home to over two million cannabis users, Ontario only has 75 stores to serve their needs, which is simply untenable. The Bottom Line on Tilray StockBuilding off the above point, the state of Colorado has approximately one store for every 10,000 residents. Surely, the ratio for store count per active cannabis user is much, much lower. To get the ratio in Canada in sync with reality, the government must approve far more stores than they have.Call me an optimist but I think our northern neighbor will get the job done. Indeed, their government is incentivized to do so. The longer these inefficiencies exist, the more the black market will steal what would otherwise be taxable revenue.Thus, the opportunity is that the markets haven't priced in this possible trend into the Tilray stock price. Clearly, the Street still views Tilray and the marijuana sector with much skepticism. I don't blame them. But I also believe that once these governmental and platform issues are gone, cannabis firms can finally play with a full deck.As of this writing, Josh Enomoto did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 9 Up-and-Coming Small-Cap Stocks to Watch * 7 Energy Stocks to Buy on the Resurgence of the Oil Boom * 3 Standout Oil Services Stocks to Buy The post This Surge in Tilray Stock May Not Be a One-off Event appeared first on InvestorPlace.
Scott+Scott Attorneys at Law LLP ("Scott+Scott"), a national securities and consumer rights litigation firm, continues investigating whether certain directors and officers of Molson Coors Brewing Company ("Molson Coors") (NYSE: TAP) breached their fiduciary duties to Molson Coors and its shareholders. If you are a Molson Coors shareholder, you are encouraged to contact attorney Joe Pettigrew with Scott+Scott for additional information at (844) 818-6982 or email@example.com.
Molson Coors Beverage Company (NYSE: TAP, TAP.A; TSX: TPX.B, TPX.A) will host a webcast of the company’s 2019 Fourth Quarter and Full Year Earnings Conference Call with investors and financial analysts at 11:00 a.m. Eastern Time (9:00 a.m. Mountain Time) on Wednesday, February 12, 2020. The company will release earnings at approximately 7:00 a.m. Eastern Time on the same day. Company executives participating in the conference call will include Gavin Hattersley, President and Chief Executive Officer, and Tracey Joubert, Chief Financial Officer.
The business of growing cannabis is anything but green, in fact, the growing of pot is so power-intensive that its ecological footprint is quickly becoming an environmental nightmare
Dividends are a wonderful thing for investors. These profit-sharing payments from companies to stock owners provide a steady income stream which can be reinvested in the shares, diverted to other endeavors, or even just pocketed. Payments are usually small – sometimes just a few cents per share, and provide an incentive for investors to buy up more blocks of stock.Dividend stocks are even more attractive in today’s climate of low interest rate. The US Federal Reserve dropped its key rate three times in 2019, brining it down to just 1.75%. Bond yields are consequently low, in the neighborhood of 1.5% to 2.25%. For stock dividends, however, there is no set ceiling, and yields can grow as far as the paying company’s profits will allow.Swiss banking titan UBS is getting into the January stock recommendations with three interesting dividend picks -- each with a dividend yield exceeding 4%. Considering the average yield among S&P-listed companies is just about 2%, these picks will bring in more than double that return."We have used our quantitative models to find stocks which are high quality compared to their peers, which pay a dividend and are unlikely to cut it. We have chosen names to be representative of different regions and sectors. Finally, we asked our UBS sector analysts to further scrutinize each name," UBS noted.Running each equity through the Stock Screener tool at TipRanks, we’ve confirmed that UBS is in the majority on Wall Street in recommending these shares. Here’s what you need to know about them.Broadcom, Inc. (AVGO)Broadcom is a major player in the semiconductor industry. It was the world’s sixth largest chip maker in 2018, by sales, with revenues of $18.46 billion. The stock gained a solid 28% last year, matching the S&P 500’s gains, despite volatility during the year.The company reported fiscal Q4 earnings in December, and continued its strong performance. Revenues and EPS both beat the expectations. Revenues were also up year-over-year; at the top line, the $5.78 billion reported was well ahead of last year’s $5.44 billion and was up $260 million sequentially. EPS, at $5.39, was a half-percent ahead of the forecast.The key point for this article, however, is the dividend. AVGO raised its payment in December to $3.25 quarterly, or $13 per year. The yield, at 4.16%, is well ahead of the market average. Broadcom has a long history of reliable dividend payments, and in recent years has increased the payout substantially. In the last three years, the AVGO dividend has risen to its current rate from $1.02.Timothy Arcuri, 5-star analyst, wrote up UBS’ review of AVGO shares. He stated, “[With] hyperscaler demand coming back, we view AVGO's decision to invest in the higher margin data center bizz favourably… Ultimately we think the stock will re-rate higher on 5G, margin accretion from software exposure & higher dividends w/ the raise serving as another milestone on the path to ~$15 in dividends (2021), meaning even at our PT of $360, this works out to be >4% yield.”Note that Arcuri sees AVGO’s dividend remaining at its current high-yield level. His stated price target, $360, indicates an upside for the stock of 15%. (To watch Arcuri’s track record, click here)Overall, Broadcom holds a Strong Buy analyst consensus rating. The rating is based on an impressive split of 16 Buys versus 5 Holds. Shares are not cheap, at $312, and they are likely to get even more expensive. The average price target, $359, suggests an upside of 14%. (See Broadcom’s stock analysis at TipRanks)Molson Coors Beverage (TAP)This giant of the brewing industry controls several household names familiar to beer drinkers everywhere – Coors and Molson, of course, but also Miller, Keystone, and, beloved of college students everywhere, Milwaukee’s Best. The company has a market cap of $11.8 billion, and saw total revenues of $10.77 billion in fiscal year 2018.While TAP stands on firm ground, and remains profitable, 2019 was a difficult year for the company. TAP is taking proactive moves toward reversing that trend, including partnering with Canadian cannabis producer HEXO to create marijuana-infused beverages. Combining an established beverage marketing and distribution network with a large cannabis grower offers a reasonable path for expansion.A sweetener for investors, however, is the company’s 12-year history of reliable dividend payments. After holding the quarterly payment steady for years, at 41 cents, TAP made a special payment in August 2019 of 57 cents. The annualized payout, $2.28, indicates that this may be the new normal for TAP dividends. And at the current share price, that puts the yield at a strong 4.35%.Writing from UBS, Sean King sees TAP as well positioned for gains in the coming year. He writes, “We acknowledge that the ongoing production improvements are intended to support greater portfolio complexity, we believe that this flexibility is targeted for growth brands of the future rather than the legacy tail brands… We see a challenging road ahead for TAP but we remain constructive on the favorable event-path and our confidence in the dividend / de-leverage commitments at deeply discounted valuation.”King places a $66 price target on the stock to support his Buy rating, indicating confidence in a 21% upside potential. (To watch King’s track record, click here)All in all, Molson Coors’ Moderate Buy consensus is based on 4 Buys, 5 Holds, and 1 Sell, reflecting the tough market conditions the company has faced in recent years. Shares are priced moderately, at $54.49, and the average price target of $56.30 suggests an upside of 3.32% – not large, but still considerable when combined with the high dividend yield and robust product portfolio. (See Molson Coors’ stock analysis at TipRanks)Oneok, Inc. (OKE)Oneok is a natural gas midstreaming company, owning and controlling the pipelines that transport gas and gas products from production sites to refiners to storage and finally to the customers. The company operates in the Permian, Mid-Continent, and Rocky Mountain regions of the American West. Oneok saw $12.6 billion in revenues and a net income exceeding $300 million in 2018.2019 numbers are not in yet for the company, but the Q3 numbers show reasons for optimism. While revenues missed the forecast by 4%, coming in at $2.26 billion, the 74 cent EPS was in line with expectations. And, despite a 12% drop in cash flow, the company reported a 19% increase in total assets, to $21.336 billion.All of that supports the company’s regular dividend payments. OKE has been steadily increasing the payment since 2011. The current quarterly payment, 91.5 cents, annualizes to $3.66 per share – a strong payout. The yield is handsome, at 4.99%. Combined with a 46% share appreciation in 2019, it’s clear why OKE is an attractive stock.4-star analyst Shneur Gershuni wrote up UBS’ stance on OKE. He put a Buy rating on the stock, and in his comments backed it up: “OKE reported an inline quarter; however, with this earnings season we expect the focus to be on capex. Since 1Q reporting season, OKE has been guiding the street to the upper end of the range despite an extremely wide range outlined in Feb... Overall OKE reaffirmed >20% earnings growth over ‘19 midpoint guide which is what investors were also probably looking for as well.”Gershuni set his $80 price target on OKE at the end of October – the stock has since gained value and approached that target, leaving room for just 1.5% additional upside. (To watch Gershuni’s track record, click here)OKE is another Moderate Buy stock, with the consensus rating based on 6 Buys, 2 Holds, and 1 Sell. As mentioned, the stock has gained recently, so the current share price of $76.89 is within a half percent of the $76.89 average price target. (See Oneok’s stock analysis at TipRanks)
Molson Coors (TAP) expects to stop production at its Irwindale, CA-based brewery by September 2020. The move is in sync with its efforts to revitalize and restructure its business.
Molson Coors Beverage Co. will cease production at its Irwindale, California, brewery by September of 2020. Molson Coors announced Monday that it entered into an agreement with Pabst Brewing Co. with the option to purchase the facility.
Molson Coors Beverage Company (NYSE: TAP; TSX: TPX) today announced plans to cease production at its Irwindale, Calif., brewery by September 2020.
Molson Coors (TAP) is grappling with weakness in volumes and high input cost. However, the company's solid brand portfolio, premiumization efforts and cost-saving initiatives bode well.
Beer sales typically drop in January in reaction to the month long sobriety pledge which traces its roots to the United Kingdom in 2013, according to CNBC. Coupled with a growing trend away from beer sales amid health concerns, one would assume beer companies are panicking. Molson Coors Beverage Co (NYSE: TAP) is promoting its low-alcohol beer Miller64 by targeting consumers demanding lower calories in their drinks.
As we begin 2020, Hexo (NYSE:HEXO) stock continues to confound analysts who are predicting its demise. However, that doesn't mean the stock is out of the woods. The HEXO stock price opened the first trading day of the new year nearly 16% below its $1.96 closing price of Dec. 24. Looking at the bigger picture, though, HEXO stock is down just over 80% since the beginning of May 2019.Source: Shutterstock The latest issue for Hexo was its announcement of a definitive agreement on Dec. 26, in which the company would receive $25 million on the sale of nearly 15 million shares. Institutional investors will buy the shares at an offering price of $1.67, a 14% discount to its market price at the time. The offering also includes warrants to purchase just under 7.5 million shares at $2.45 per share.Hexo is not the only cannabis company to raise cash through equity offerings. However, at a time when investors are hoping to see stability and growth, this is another reminder that not every cannabis stock will be part of the industry's future.InvestorPlace - Stock Market News, Stock Advice & Trading Tips Investors Are Questioning Hexo's PlanIf you're a fan of the National Football League, this is a bittersweet time of year. When your favorite team is in the playoffs, it's great. But when they're not, it can be a time of change. That's because the end of a season is a time when coaches and other executives are fired as teams embark on a new plan. * 10 2019 Winners That Will Be 2020 Losers The skeptic in me is always reminded that a new plan, in some cases, is just a play for time. The key, though, is always in the execution -- and maybe a little bit of luck.For the less sports-minded among us, forgive the analogy. However, I think you'll find it helpful when thinking about Hexo stock. The cannabis company is facing the very real threat of its stock being delisted if it can't break out of the nosedive that's it's been in since May of last year.Their latest "reboot" involves the aforementioned stock offering that has bought it time and necessary capital. The question, however, is whether or not there is an actual plan in place, or if the company is biding its time until it has to declare bankruptcy. Is Hexo's Plan Simply More of the Same?At the core of the company's plan is Cannabis 2.0. This is the long-awaited shift into a retail market for edibles, vapes and other products that are less dependent on the dry flower product. However, the retail market in Canada, and particularly Ontario, has not seen the expansion that is central to generating sales and squelching the black market.The company is also banking on its joint venture with Molson Coors (NYSE:TAP). And, as my InvestorPlace.com colleague Will Ashworth points out, Hexo is well-positioned to start selling THC and THC/CBD drinks. Ashworth writes, "Hexo has spent millions of dollars to get a state-of-the-art beverage manufacturing facility that already has CBD beverages in the pipeline. With this, the hope is to sell THC and THC/CBD drinks under several brands starting in the calendar year 2020. "However, any value for shareholders will only be realized if Hexo can stop the bleeding in its core cannabis operation. What's Going to Happen With Hexo Stock?Hexo missed on expectations in 2019. At the beginning of the year, companies like Hexo could make the argument that investor expectations were too high. However, as the year drew to a close, investors set a low bar -- and Hexo still could not jump over that bar.So, I can certainly forgive investors who are not willing to take Hexo at its word. The company has been guilty of overpromising in 2019.As I see it, though, Hexo's plan could work. It needs a lot of things to go right, but maybe time is finally on its side.But for now, call me a skeptic. I've been hearing cannabis companies say "this time it's different" for about six months now. So, while I don't see the company's first quarter earnings as make or break, I do think investors can avoid the stock until they see whether this plan is viable or simply more of the same.As of this writing, Chris Markoch did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 2019 Winners That Will Be 2020 Losers * 5-Year Returns for 5 Dow Jones Stocks Entering 2020 * 5 Semiconductor Stocks to Buy for Big Gains In 2020 The post Hexo Stock Is in a Race Against Time appeared first on InvestorPlace.
Dry January or 'Drynuary' brings beer consumption to a halt for many drinkers, but there are ways to cut back on alcohol and calories if you don't want to cut beer completely.
As more consumers crave low-calorie alcoholic beverages like light beers and hard seltzers, MillerCoors is launching a new marketing campaign for Miller64, the low-calorie beer's first campaign in five years.
Much like Cannabis 1.0, Cannabis 2.0 is going to take longer to get rolling than most people realize. Companies such as Hexo (NYSE:HEXO), who've invested heavily in the edibles and cannabis-infused drinks market, are going to have to be a lot more patient. And, if you're betting on a Hexo stock revival, that's terrible news.Source: Shutterstock However, don't despair. Hexo's joint venture with Molson Coors (NYSE:TAP) will deliver much-needed relief for the Hexo stock price, which has lost 76% of its value since hitting a 52-week high at the end of April. Nonetheless, it is going to take time. InvestorPlace - Stock Market News, Stock Advice & Trading TipsIf you're looking for positive Hexo analysis from other InvestorPlace.com contributors, you won't find many takers. The company's first quarter earnings report for 2020 certainly didn't help. My colleague, Vince Martin, suggested before Hexo released its earnings Dec. 16, that it needed a good report or bankruptcy could be on the horizon. "A weak first quarter puts fiscal 2020 targets in doubt immediately, and adds to concerns about whether management truly is on top of the business and industry dynamics. Q1 results aren't going to seal Hexo's fate one way or the other, but they will drive the sentiment toward HEXO stock into 2020." Martin wrote. * 7 Top-Tier Dividend Stocks for 2020 Hexo reported top-line sales of 14.5 million Canadian Dollars (CAD) in the first quarter of 2020, 1.1 million CAD short of analyst expectations. On the bottom line, it lost 62.4 million CAD -- more than double the consensus estimate for the quarter. That's a swing and a miss. HEXO has lost about 10% of its value since the report, but lost nearly three-quarters of its value in 2019. So, 10% is a walk in the park. From where I sit, Hexo's risk-reward profile is beginning to look very favorable for investors willing to stick their necks out. Here's why. Truss is Ready to GoFormer Canopy Growth (NYSE:CGC) CEO Bruce Linton recently told BNN Bloomberg he expects investors to return to cannabis stocks in the near future in large part because of Cannabis 2.0."I'm really excited about [the first quarter] because I think you'll actually see reasons to go to the stores that exist and a bunch of more stores [opening] so these advanced products could be things that don't exist anywhere else on the planet," Linton said during an interview."The level of enthusiasm and anticipation for that, I think, is not on par with what is being presented. So I think in January and February, a lot of retail [investors] are going to see these products and want that stock that makes that product."As Hexo CEO Sebastien St-Louis stated in its first quarter 2020 conference call, the company has a lot invested in its Truss joint venture."Truss has been funded with an aggregate of about 80 million CAD to date, Hexo providing 43% of that capital. And we have a little bit of funding left to go. I think an aggregate funding of about CAD26 million left to go in that total. So -- which would leave Hexo with 43% of that, call it 12 million CAD. And that covers both capex and OpEx. Also the capex has been deployed. The Truss facilities are gorgeous, 180,000 square feet of state-of-the-art beverage manufacturing in our Belleville facility." Truss the Next Steps for HexoThink about it. Hexo has spent millions of dollars to get a state-of-the-art beverage manufacturing facility that already has CBD beverages in the pipeline. With this, the hope is to sell THC and THC/CBD drinks under several brands starting in the calendar year 2020. As Linton suggests, investors are way too conservative when it comes to the potential of Cannabis 2.0 products -- and I couldn't agree more. Since the dry flower's legalization in Canada in October 2018, I've bought zero products. Except for a relative of mine, who smokes pot for pain relief. However, I'll be there to purchase drinks and edibles when they're readily available; and I think a lot of Canadians feel this way, too.With the provinces starting to get their retail act together, the Truss joint venture is going to have ample opportunity to capture market share in Canada. In the meantime, Hexo can sell its low-priced brand -- Original Stash -- meant to attract black market buyers.But, the real profits will come from Truss and other Cannabis 2.0 initiatives. The Bottom Line on Hexo Stock Hexo's current Altman Z-Score is 2.58, which is within spitting distance of being considered safe from bankruptcy. This comes even after a so-called terrible first quarter. The people who just bought 70 million CAD in Hexo 8% convertible notes -- which come with an exercise price of 3.16 CAD -- are sitting in the catbird seat because they're getting paid 8% to wait for Hexo stock to reach its potential. I would have loved to have gotten my hands on some of those notes because Hexo's demise is greatly exaggerated.At the time of this writing Will Ashworth did not hold a position in any of the aforementioned securities. More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 7 Vaping Stocks to Get into Ahead of the Crowd * 5 Retail Stocks That Are Winning Big This Holiday Season * Make the Shift Toward Value Stocks With These 5 Picks The post Hexo Hoping to Recover With Cannabis 2.0 Boom in 2020 appeared first on InvestorPlace.
The October announcement that the 146-year-old company would move its HQ out of Colorado was a reminder to eco-devo leaders to be ever vigilant.