Molson Coors Beverage (NYSE:TAP) Sets New 52-Week Low – Here’s Why

Molson Coors Beverage Company (NYSE:TAP)’s stock price reached a new 52-week low during trading on Thursday . The stock traded as low as $40.56 and last traded at $40.9370, with a volume of 661775 shares. The stock had previously closed at $41.87.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on TAP shares. JPMorgan Chase & Co. lowered their price objective on shares of Molson Coors Beverage from $45.00 to $43.00 and set a “neutral” rating for the company in a research note on Monday, April 27th. Evercore lowered their price objective on shares of Molson Coors Beverage from $50.00 to $47.00 and set an “outperform” rating for the company in a research note on Tuesday, April 21st. Bank of America downgraded shares of Molson Coors Beverage from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $50.00 to $42.00 in a research note on Wednesday, February 25th. Morgan Stanley reduced their price target on shares of Molson Coors Beverage from $52.00 to $46.00 and set an “equal weight” rating for the company in a research report on Monday, May 4th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of Molson Coors Beverage in a research report on Friday, March 27th. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $45.29.

Molson Coors Beverage Stock Down 2.7%

The company has a current ratio of 0.54, a quick ratio of 0.38 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $7.41 billion, a PE ratio of -3.71 and a beta of 0.44. The business’s 50-day simple moving average is $42.68 and its 200-day simple moving average is $45.94.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Friday, May 1st. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.26. Molson Coors Beverage had a negative net margin of 16.14% and a positive return on equity of 9.79%. The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same period last year, the firm posted $0.50 EPS. Molson Coors Beverage’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Molson Coors Beverage Company will post 4.74 EPS for the current fiscal year.

Molson Coors Beverage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be given a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.92 dividend on an annualized basis and a yield of 4.9%. Molson Coors Beverage’s dividend payout ratio (DPR) is currently -18.05%.

Insider Activity at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,245 shares of Molson Coors Beverage stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $42.50, for a total transaction of $52,912.50. Following the completion of the transaction, the director directly owned 9,871 shares of the company’s stock, valued at $419,517.50. The trade was a 11.20% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew Thomas Molson bought 2,000 shares of the business’s stock in a transaction dated Monday, March 9th. The shares were purchased at an average cost of $46.67 per share, with a total value of $93,340.00. Following the completion of the acquisition, the director owned 24,654 shares in the company, valued at approximately $1,150,602.18. This represents a 8.83% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 2.27% of the stock is owned by insiders.

Hedge Funds Weigh In On Molson Coors Beverage

Several institutional investors have recently made changes to their positions in the company. Geneos Wealth Management Inc. increased its position in shares of Molson Coors Beverage by 32.9% in the first quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock valued at $49,000 after buying an additional 198 shares in the last quarter. UMB Bank n.a. increased its position in shares of Molson Coors Beverage by 16.5% in the fourth quarter. UMB Bank n.a. now owns 1,467 shares of the company’s stock valued at $68,000 after buying an additional 208 shares in the last quarter. New York Life Investment Management LLC increased its position in shares of Molson Coors Beverage by 0.9% in the fourth quarter. New York Life Investment Management LLC now owns 22,904 shares of the company’s stock valued at $1,069,000 after buying an additional 210 shares in the last quarter. Smartleaf Asset Management LLC increased its position in shares of Molson Coors Beverage by 64.2% in the second quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock valued at $27,000 after buying an additional 221 shares in the last quarter. Finally, SBI Securities Co. Ltd. increased its position in shares of Molson Coors Beverage by 84.1% in the fourth quarter. SBI Securities Co. Ltd. now owns 534 shares of the company’s stock valued at $25,000 after buying an additional 244 shares in the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Beverage Company Profile

Molson Coors Beverage Company is a leading multinational brewing and beverage enterprise formed through the 2005 merger of Canada’s Molson and the United States’ Coors. The company develops, markets and distributes an array of alcoholic and non-alcoholic beverages, focusing primarily on beer and ready-to-drink products. Its portfolio spans flagship brands such as Coors Light, Molson Canadian and Miller Lite, alongside craft-style offerings like Blue Moon and global imports including Carling and Staropramen.

In addition to its core beer business, Molson Coors has expanded into adjacent categories to capture evolving consumer tastes.