Molson Coors Beverage Company (NYSE:TAP) Receives Consensus Recommendation of “Hold” from Analysts

Shares of Molson Coors Beverage Company (NYSE:TAP) have been assigned an average recommendation of “Hold” from the sixteen analysts that are presently covering the firm, MarketBeat reports. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have issued a buy rating on the company. The average 1 year target price among brokers that have covered the stock in the last year is $58.1813.

Several research firms have commented on TAP. The Goldman Sachs Group lowered their price objective on Molson Coors Beverage from $77.00 to $67.00 and set a “buy” rating on the stock in a research report on Wednesday, August 6th. Bank of America downgraded Molson Coors Beverage from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $65.00 to $50.00 in a research note on Friday, June 27th. Morgan Stanley reduced their target price on Molson Coors Beverage from $58.00 to $53.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 6th. Piper Sandler reduced their target price on Molson Coors Beverage from $58.00 to $53.00 and set a “neutral” rating for the company in a research note on Monday, June 23rd. Finally, Wells Fargo & Company reduced their target price on Molson Coors Beverage from $65.00 to $58.00 and set an “overweight” rating for the company in a research note on Wednesday, June 25th.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Golden State Wealth Management LLC raised its stake in Molson Coors Beverage by 230.2% in the 1st quarter. Golden State Wealth Management LLC now owns 416 shares of the company’s stock valued at $25,000 after purchasing an additional 290 shares during the last quarter. Millstone Evans Group LLC raised its stake in Molson Coors Beverage by 151.8% in the 1st quarter. Millstone Evans Group LLC now owns 423 shares of the company’s stock valued at $26,000 after purchasing an additional 255 shares during the last quarter. Clearstead Trust LLC raised its stake in Molson Coors Beverage by 952.8% in the 2nd quarter. Clearstead Trust LLC now owns 558 shares of the company’s stock valued at $27,000 after purchasing an additional 505 shares during the last quarter. Smartleaf Asset Management LLC raised its stake in Molson Coors Beverage by 64.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock valued at $27,000 after purchasing an additional 221 shares during the last quarter. Finally, Elequin Capital LP acquired a new position in Molson Coors Beverage in the 1st quarter valued at $30,000. 78.46% of the stock is owned by institutional investors and hedge funds.

Molson Coors Beverage Trading Down 3.0%

Molson Coors Beverage stock opened at $45.15 on Tuesday. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a 12 month low of $45.08 and a 12 month high of $64.66. The stock’s 50 day simple moving average is $49.91 and its two-hundred day simple moving average is $53.43. The firm has a market cap of $8.93 billion, a PE ratio of 8.91, a P/E/G ratio of 1.70 and a beta of 0.69.

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 business had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the prior year, the firm posted $1.92 EPS. The business’s quarterly revenue was down 1.6% compared to the same quarter last year. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. Analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were paid a dividend of $0.47 per share. This represents a $1.88 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend was Friday, September 5th. Molson Coors Beverage’s dividend payout ratio is presently 37.08%.

Molson Coors Beverage Company Profile

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.