Molson Coors Beverage (NYSE:TAP) Price Target Cut to $50.00 by Analysts at Sanford C. Bernstein

Molson Coors Beverage (NYSE:TAP) had its price target decreased by equities researchers at Sanford C. Bernstein from $54.00 to $50.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has a “market perform” rating on the stock. Sanford C. Bernstein’s price objective would indicate a potential upside of 10.53% from the stock’s previous close.

TAP has been the subject of several other reports. Barclays restated an “underweight” rating and set a $50.00 price objective (up from $49.00) on shares of Molson Coors Beverage in a research report on Friday, September 12th. Evercore ISI lowered their target price on shares of Molson Coors Beverage from $53.00 to $50.00 and set an “outperform” rating for the company in a research note on Wednesday. Morgan Stanley lowered their target price on shares of 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. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Molson Coors Beverage in a research note on Tuesday, October 14th. Finally, UBS Group lowered their target price on shares of Molson Coors Beverage from $52.00 to $49.00 and set a “neutral” rating for the company in a research note on Wednesday, October 8th. Six analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $55.24.

Molson Coors Beverage Price Performance

Shares of TAP stock traded up $1.57 during midday trading on Wednesday, reaching $45.24. 1,122,650 shares of the company traded hands, compared to its average volume of 2,452,786. The firm’s 50 day simple moving average is $46.80 and its two-hundred day simple moving average is $50.23. Molson Coors Beverage has a 1-year low of $42.94 and a 1-year high of $64.66. 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 firm has a market cap of $8.94 billion, a PE ratio of 8.90, a price-to-earnings-growth ratio of 1.60 and a beta of 0.65.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Tuesday, November 4th. The company reported $1.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.05). Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. The company had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.02 billion. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. On average, equities research analysts expect that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Molson Coors Beverage

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Principal Financial Group Inc. lifted its holdings in Molson Coors Beverage by 14.7% in the 1st quarter. Principal Financial Group Inc. now owns 238,178 shares of the company’s stock worth $14,498,000 after buying an additional 30,463 shares in the last quarter. Nuveen LLC acquired a new position in Molson Coors Beverage in the 1st quarter worth $22,253,000. Jump Financial LLC lifted its holdings in Molson Coors Beverage by 205.4% in the 1st quarter. Jump Financial LLC now owns 24,307 shares of the company’s stock worth $1,480,000 after buying an additional 16,349 shares in the last quarter. Hsbc Holdings PLC lifted its holdings in Molson Coors Beverage by 32.8% in the 1st quarter. Hsbc Holdings PLC now owns 466,666 shares of the company’s stock worth $28,424,000 after buying an additional 115,186 shares in the last quarter. Finally, LPL Financial LLC lifted its holdings in Molson Coors Beverage by 2.3% in the 1st quarter. LPL Financial LLC now owns 734,173 shares of the company’s stock worth $44,689,000 after buying an additional 16,581 shares in the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

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.