Molson Coors Beverage (NYSE:TAP) Price Target Cut to $41.00 by Analysts at Wells Fargo & Company

Molson Coors Beverage (NYSE:TAP) had its price target dropped by equities research analysts at Wells Fargo & Company from $43.00 to $41.00 in a note issued to investors on Wednesday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s price objective indicates a potential upside of 4.38% from the stock’s current price.

A number of other analysts have also recently issued reports on the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $42.00 price objective on shares of Molson Coors Beverage in a research report on Friday, May 1st. Weiss Ratings reiterated a “sell (d)” rating on shares of Molson Coors Beverage in a research note on Wednesday, June 24th. UBS Group lowered their price target on shares of Molson Coors Beverage from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. JPMorgan Chase & Co. reduced 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 report on Monday, April 27th. Finally, TD Cowen upgraded shares of Molson Coors Beverage to a “hold” rating in a research report on Friday, June 26th. Four investment analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the stock. According to MarketBeat, Molson Coors Beverage currently has a consensus rating of “Hold” and an average price target of $44.76.

Molson Coors Beverage Stock Performance

NYSE:TAP opened at $39.28 on Wednesday. The firm’s 50-day moving average is $40.75 and its 200-day moving average is $44.66. Molson Coors Beverage has a 52-week low of $38.04 and a 52-week high of $54.82. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.38 and a current ratio of 0.54. The company has a market cap of $7.37 billion, a price-to-earnings ratio of -3.69 and a beta of 0.42.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Friday, May 1st. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.26. The firm had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.33 billion. Molson Coors Beverage had a positive return on equity of 9.79% and a negative net margin of 16.14%.The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company posted $0.50 earnings per share. Equities research analysts anticipate that Molson Coors Beverage will post 4.8 earnings per share for the current year.

Insider Transactions at Molson Coors Beverage

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,245 shares of the stock in a transaction on Thursday, May 21st. The stock was 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 in the company, valued at $419,517.50. This represents a 11.20% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.27% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Molson Coors Beverage

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. GoalVest Advisory LLC bought a new position in shares of Molson Coors Beverage in the fourth quarter valued at approximately $25,000. SBI Securities Co. Ltd. grew its position in Molson Coors Beverage by 84.1% during the 4th quarter. SBI Securities Co. Ltd. now owns 534 shares of the company’s stock worth $25,000 after acquiring an additional 244 shares during the last quarter. Basepoint Wealth LLC bought a new stake in Molson Coors Beverage during the 4th quarter worth approximately $26,000. Smartleaf Asset Management LLC increased its holdings in Molson Coors Beverage by 64.2% during 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 in the last quarter. Finally, Larson Financial Group LLC increased its holdings in Molson Coors Beverage by 551.1% during the 4th quarter. Larson Financial Group LLC now owns 612 shares of the company’s stock valued at $29,000 after purchasing an additional 518 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

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.