Jefferies Financial Group Cuts Molson Coors Beverage (NYSE:TAP) Price Target to $50.00

Molson Coors Beverage (NYSE:TAP) had its target price reduced by Jefferies Financial Group from $52.00 to $50.00 in a research report released on Tuesday,Benzinga reports. Jefferies Financial Group currently has a hold rating on the stock.

TAP has been the topic of several other reports. Citigroup decreased their price objective on shares of Molson Coors Beverage from $56.00 to $51.00 and set a “neutral” rating on the stock in a research report on Tuesday, July 15th. Needham & Company LLC reduced their target price on shares of Molson Coors Beverage from $65.00 to $58.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. The Goldman Sachs Group decreased their price target on shares of Molson Coors Beverage from $77.00 to $67.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. JPMorgan Chase & Co. cut their price objective on shares of Molson Coors Beverage from $62.00 to $53.00 and set a “neutral” rating for the company in a research report on Thursday, July 31st. Finally, Morgan Stanley reduced their price objective on shares of Molson Coors Beverage from $58.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 6th. Six analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Molson Coors Beverage presently has an average rating of “Hold” and a consensus price target of $56.88.

Molson Coors Beverage Price Performance

Shares of NYSE:TAP opened at $46.13 on Tuesday. The firm has a market capitalization of $9.12 billion, a price-to-earnings ratio of 9.10, a price-to-earnings-growth ratio of 1.68 and a beta of 0.63. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.67. The business’s 50 day simple moving average is $49.07 and its 200-day simple moving average is $52.70. Molson Coors Beverage has a 12 month low of $43.80 and a 12 month high of $64.66.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Tuesday, August 5th. The company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.22. The firm had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.12 billion. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%.Molson Coors Beverage’s quarterly revenue was down 1.6% on a year-over-year basis. During the same period last year, the business posted $1.92 EPS. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. As a group, equities analysts forecast that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were given a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Friday, September 5th. Molson Coors Beverage’s dividend payout ratio (DPR) is 37.08%.

Hedge Funds Weigh In On Molson Coors Beverage

Hedge funds and other institutional investors have recently modified their holdings of the company. Principal Financial Group Inc. raised its holdings in Molson Coors Beverage by 14.7% in the first quarter. Principal Financial Group Inc. now owns 238,178 shares of the company’s stock valued at $14,498,000 after buying an additional 30,463 shares during the period. Nuveen LLC purchased a new position in shares of Molson Coors Beverage in the 1st quarter valued at $22,253,000. Kendall Capital Management lifted its holdings in shares of Molson Coors Beverage by 42.7% during the 1st quarter. Kendall Capital Management now owns 19,995 shares of the company’s stock valued at $1,217,000 after acquiring an additional 5,985 shares in the last quarter. Jump Financial LLC boosted its position in Molson Coors Beverage by 205.4% during the 1st quarter. Jump Financial LLC now owns 24,307 shares of the company’s stock worth $1,480,000 after purchasing an additional 16,349 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Molson Coors Beverage by 7.7% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 22,330 shares of the company’s stock valued at $1,352,000 after purchasing an additional 1,606 shares in the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

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.