Molson Coors Beverage (NYSE:TAP) Stock Rating Lowered by StockNews.com

Molson Coors Beverage (NYSE:TAP) was downgraded by research analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Saturday.

A number of other analysts have also issued reports on the company. UBS Group lowered their price target on Molson Coors Beverage from $63.00 to $59.00 and set a “neutral” rating for the company in a report on Friday, May 9th. Citigroup upgraded Molson Coors Beverage from a “sell” rating to a “neutral” rating and boosted their price target for the company from $47.00 to $57.00 in a report on Wednesday, February 5th. Needham & Company LLC lowered their price target on Molson Coors Beverage from $72.00 to $65.00 and set a “buy” rating for the company in a report on Monday, May 12th. JPMorgan Chase & Co. reduced their price objective on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Finally, Barclays reduced their price objective on shares of Molson Coors Beverage from $60.00 to $57.00 and set an “equal weight” rating for the company in a research note on Monday, May 12th. Eleven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, Molson Coors Beverage currently has a consensus rating of “Hold” and an average price target of $62.71.

Molson Coors Beverage Stock Up 1.0%

Shares of NYSE TAP opened at $56.81 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. The company has a market cap of $11.51 billion, a P/E ratio of 10.62, a PEG ratio of 1.52 and a beta of 0.73. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $64.66. The firm has a 50-day simple moving average of $58.61 and a two-hundred day simple moving average of $58.40.

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

Hedge Funds Weigh In On Molson Coors Beverage

Large investors have recently made changes to their positions in the business. LSV Asset Management grew its holdings in shares of Molson Coors Beverage by 1.4% during the first quarter. LSV Asset Management now owns 6,369,498 shares of the company’s stock valued at $387,711,000 after buying an additional 86,601 shares during the last quarter. Clarkston Capital Partners LLC raised its position in shares of Molson Coors Beverage by 0.7% during the 1st quarter. Clarkston Capital Partners LLC now owns 4,553,212 shares of the company’s stock worth $277,154,000 after purchasing an additional 33,535 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Molson Coors Beverage by 20.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,503,879 shares of the company’s stock worth $274,144,000 after purchasing an additional 750,388 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Molson Coors Beverage by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 4,291,048 shares of the company’s stock worth $245,308,000 after purchasing an additional 54,867 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in Molson Coors Beverage by 16.8% in the 1st quarter. Bank of New York Mellon Corp now owns 4,130,807 shares of the company’s stock valued at $251,442,000 after acquiring an additional 595,203 shares during the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

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.