Molson Coors Beverage (NYSE:TAP) Receives Average Rating of “Hold” from Brokerages

Shares of Molson Coors Beverage (NYSE:TAP) have been given an average recommendation of “Hold” by the fourteen ratings firms that are covering the firm, Marketbeat Ratings reports. Ten equities research analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $62.71.

Several equities research analysts recently weighed in on the company. Morgan Stanley cut their price objective on Molson Coors Beverage from $63.00 to $58.00 and set an “equal weight” rating on the stock in a report on Friday, May 9th. Citigroup raised Molson Coors Beverage from a “sell” rating to a “neutral” rating and lifted their target price for the stock from $47.00 to $57.00 in a report on Wednesday, February 5th. Needham & Company LLC cut their target price on Molson Coors Beverage from $72.00 to $65.00 and set a “buy” rating on the stock in a report on Monday. JPMorgan Chase & Co. cut their target price on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Finally, StockNews.com raised Molson Coors Beverage from a “hold” rating to a “buy” rating in a report on Friday, May 9th.

Institutional Trading of Molson Coors Beverage

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TAP. Principal Financial Group Inc. increased its position in Molson Coors Beverage by 4.7% in the 3rd quarter. Principal Financial Group Inc. now owns 211,812 shares of the company’s stock valued at $12,183,000 after buying an additional 9,510 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Molson Coors Beverage by 1.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company’s stock valued at $2,046,000 after buying an additional 563 shares in the last quarter. Czech National Bank increased its position in Molson Coors Beverage by 5.8% in the 4th quarter. Czech National Bank now owns 37,873 shares of the company’s stock valued at $2,171,000 after buying an additional 2,083 shares in the last quarter. Pallas Capital Advisors LLC increased its position in Molson Coors Beverage by 1.2% in the 4th quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company’s stock valued at $975,000 after buying an additional 199 shares in the last quarter. Finally, 180 Wealth Advisors LLC increased its position in Molson Coors Beverage by 21.8% in the 4th quarter. 180 Wealth Advisors LLC now owns 8,679 shares of the company’s stock valued at $497,000 after buying an additional 1,553 shares in the last quarter. 78.46% of the stock is owned by institutional investors.

Molson Coors Beverage Trading Up 0.5%

Shares of TAP opened at $55.20 on Wednesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $64.66. The firm has a market cap of $11.18 billion, a price-to-earnings ratio of 10.32, a PEG ratio of 1.52 and a beta of 0.73. The business’s fifty day moving average is $58.94 and its 200-day moving average is $58.41.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Thursday, May 8th. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.30). Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.43 billion. During the same period last year, the business earned $0.95 EPS. The company’s revenue was down 11.3% compared to the same quarter last year. Equities analysts anticipate that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Company Profile

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.