UBS Group Cuts Molson Coors Beverage (NYSE:TAP) Price Target to $52.00

Molson Coors Beverage (NYSE:TAP) had its price target trimmed by UBS Group from $53.00 to $52.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other analysts also recently weighed in on the company. Roth Capital set a $71.00 price objective on Molson Coors Beverage and gave the company a “buy” rating in a research report on Tuesday, May 20th. Sanford C. Bernstein lowered their price target on shares of Molson Coors Beverage from $65.00 to $55.00 and set a “market perform” rating for the company in a report on Wednesday, July 9th. Bank of America cut shares of Molson Coors Beverage from a “buy” rating to a “neutral” rating and dropped their price target for the company from $65.00 to $50.00 in a research report on Friday, June 27th. Wall Street Zen cut shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Saturday, May 17th. Finally, Evercore ISI lowered their price objective on shares of Molson Coors Beverage from $58.00 to $53.00 and set an “outperform” rating for the company in a research note on Wednesday. Twelve analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $58.29.

Molson Coors Beverage Price Performance

Shares of NYSE:TAP opened at $50.19 on Wednesday. The company has a quick ratio of 0.59, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. The stock has a market cap of $10.15 billion, a PE ratio of 9.90, a PEG ratio of 2.98 and a beta of 0.67. The company’s fifty day moving average is $50.06 and its 200 day moving average is $55.21. Molson Coors Beverage has a 52 week low of $46.94 and a 52 week high of $64.66.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Tuesday, August 5th. The company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.83 by $0.22. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%. The firm had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter in the previous year, the business earned $1.92 earnings per share. The company’s quarterly revenue was down 1.6% on a year-over-year basis. Research analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Shareholders of record on Friday, September 5th will be issued a $0.47 dividend. The ex-dividend date is Friday, September 5th. This represents a $1.88 annualized dividend and a yield of 3.7%. Molson Coors Beverage’s dividend payout ratio (DPR) is 37.83%.

Insiders Place Their Bets

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,333 shares of the company’s stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $56.29, for a total transaction of $75,034.57. Following the transaction, the director owned 27,595 shares in the company, valued at approximately $1,553,322.55. This represents a 4.61% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 2.71% of the company’s stock.

Institutional Investors Weigh In On Molson Coors Beverage

Several hedge funds have recently made changes to their positions in the company. LSV Asset Management raised its holdings in Molson Coors Beverage by 1.4% in the first quarter. LSV Asset Management now owns 6,369,498 shares of the company’s stock worth $387,711,000 after purchasing an additional 86,601 shares in the last quarter. Clarkston Capital Partners LLC increased its stake in shares of Molson Coors Beverage by 0.7% in the 1st quarter. Clarkston Capital Partners LLC now owns 4,553,212 shares of the company’s stock worth $277,154,000 after acquiring an additional 33,535 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Molson Coors Beverage by 20.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,503,879 shares of the company’s stock worth $274,144,000 after acquiring an additional 750,388 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Molson Coors Beverage by 16.8% during the 1st quarter. Bank of New York Mellon Corp now owns 4,130,807 shares of the company’s stock valued at $251,442,000 after acquiring an additional 595,203 shares during the period. Finally, Invesco Ltd. boosted its stake in Molson Coors Beverage by 4.2% during the fourth quarter. Invesco Ltd. now owns 3,789,258 shares of the company’s stock worth $217,200,000 after acquiring an additional 152,622 shares in the last quarter. 78.46% of the stock is currently 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.