Wells Fargo & Company Cuts Molson Coors Beverage (NYSE:TAP) Price Target to $38.00

Molson Coors Beverage (NYSE:TAP) had its price target reduced by Wells Fargo & Company from $41.00 to $38.00 in a research note issued to investors on Monday,Benzinga reports. They currently have an equal weight rating on the stock.

TAP has been the subject of a number of other reports. TD Cowen upgraded Molson Coors Beverage to a “hold” rating in a research report on Friday, June 26th. Jefferies Financial Group reduced their price objective on Molson Coors Beverage from $43.00 to $41.00 in a research report on Friday, June 12th. Needham & Company LLC reissued a “buy” rating and set a $50.00 price objective on shares of Molson Coors Beverage in a research note on Friday, August 7th. Weiss Ratings restated a “sell (d)” rating on shares of Molson Coors Beverage in a report on Monday, September 21st. Finally, Citigroup dropped their target price on Molson Coors Beverage from $47.00 to $42.00 and set a “neutral” rating for the company in a report on Tuesday, July 14th. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $43.88.

Molson Coors Beverage Price Performance

Shares of NYSE TAP opened at $36.88 on Monday. The firm has a 50-day simple moving average of $39.87 and a 200-day simple moving average of $40.90. The stock has a market capitalization of $6.92 billion, a price-to-earnings ratio of -3.20 and a beta of 0.43. The company has a quick ratio of 0.72, a current ratio of 0.88 and a debt-to-equity ratio of 0.55. Molson Coors Beverage has a 52 week low of $35.52 and a 52 week high of $54.82.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Thursday, August 6th. The company reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.51 by $0.07. Molson Coors Beverage had a negative net margin of 17.83% and a positive return on equity of 9.46%. The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the firm posted $2.05 earnings per share. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. Molson Coors Beverage has set its FY 2026 guidance at 4.607-4.823 EPS. On average, equities analysts predict that Molson Coors Beverage will post 4.81 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Friday, August 28th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend was Friday, August 28th. Molson Coors Beverage’s payout ratio is presently -16.64%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Parrish Capital LLC raised its position in Molson Coors Beverage by 17.5% in the third quarter. Parrish Capital LLC now owns 22,959 shares of the company’s stock valued at $837,000 after purchasing an additional 3,414 shares during the period. MAC Alpha Capital Management LP lifted its stake in shares of Molson Coors Beverage by 8.9% in the 2nd quarter. MAC Alpha Capital Management LP now owns 168,132 shares of the company’s stock valued at $6,551,000 after purchasing an additional 13,800 shares during the last quarter. Core Capital Management & Research inc. purchased a new position in shares of Molson Coors Beverage during the 2nd quarter worth $7,905,000. Sequoia Financial Advisors LLC grew its holdings in shares of Molson Coors Beverage by 136.1% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 28,795 shares of the company’s stock worth $1,122,000 after purchasing an additional 16,597 shares during the period. Finally, Tidal Investments LLC increased its position in shares of Molson Coors Beverage by 10.0% during the 2nd quarter. Tidal Investments LLC now owns 98,246 shares of the company’s stock worth $3,828,000 after purchasing an additional 8,894 shares during the last quarter. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

About Molson Coors Beverage

Molson Coors Beverage Company is a global brewer that produces, markets and distributes beer and other beverage products. Its portfolio includes well-known brands such as Coors, Miller, Molson, Coors Light, Miller Lite, Blue Moon, Leinenkugel’s, Carling, Staropramen and Peroni Nastro Azzurro, along with a range of craft, premium, flavored and non-alcoholic beverages.

The company serves consumers through retail, hospitality and other distribution channels across North America, Europe and selected international markets.