Molson Coors Beverage (NYSE:TAP) Price Target Cut to $55.00 by Analysts at Wells Fargo & Company

Molson Coors Beverage (NYSE:TAP) had its target price trimmed by Wells Fargo & Company from $58.00 to $55.00 in a research report report published on Thursday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research analysts have also recently weighed in on TAP. The Goldman Sachs Group decreased their price objective on shares of Molson Coors Beverage from $77.00 to $67.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. Bank of America cut shares of Molson Coors Beverage from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $65.00 to $50.00 in a report on Friday, June 27th. Citigroup decreased their price objective on shares of Molson Coors Beverage from $56.00 to $51.00 and set a “neutral” rating for the company in a report on Tuesday, July 15th. Needham & Company LLC reduced their target price on shares of Molson Coors Beverage from $65.00 to $58.00 and set a “buy” rating for the company in a report on Wednesday, August 6th. Finally, Morgan Stanley reduced their target price on shares of Molson Coors Beverage from $58.00 to $53.00 and set an “equal weight” rating for the company in a report on Wednesday, August 6th. Six investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $57.99.

Molson Coors Beverage Stock Down 2.0%

TAP opened at $44.42 on Thursday. The company has a quick ratio of 0.67, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. The firm has a 50 day moving average price of $49.60 and a 200-day moving average price of $53.18. Molson Coors Beverage has a twelve month low of $43.80 and a twelve month high of $64.66. The stock has a market capitalization of $8.78 billion, a price-to-earnings ratio of 8.76, a PEG ratio of 1.65 and a beta of 0.69.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Tuesday, August 5th. The company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.83 by $0.22. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. The firm had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.12 billion. During the same period in the previous year, the company earned $1.92 earnings per share. The firm’s quarterly revenue was down 1.6% on a year-over-year basis. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. Equities research analysts forecast that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were paid a $0.47 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 4.2%. Molson Coors Beverage’s dividend payout ratio is 37.08%.

Institutional Trading of Molson Coors Beverage

A number of hedge funds and other institutional investors have recently modified their holdings of TAP. Golden State Wealth Management LLC increased its stake in shares of Molson Coors Beverage by 230.2% in the first quarter. Golden State Wealth Management LLC now owns 416 shares of the company’s stock worth $25,000 after purchasing an additional 290 shares in the last quarter. Millstone Evans Group LLC increased its stake in shares of Molson Coors Beverage by 151.8% in the first quarter. Millstone Evans Group LLC now owns 423 shares of the company’s stock worth $26,000 after purchasing an additional 255 shares in the last quarter. Clearstead Trust LLC increased its stake in shares of Molson Coors Beverage by 952.8% in the second quarter. Clearstead Trust LLC now owns 558 shares of the company’s stock worth $27,000 after purchasing an additional 505 shares in the last quarter. Smartleaf Asset Management LLC increased its stake 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 worth $27,000 after purchasing an additional 221 shares in the last quarter. Finally, Elequin Capital LP purchased a new stake in shares of Molson Coors Beverage in the first quarter worth $30,000. 78.46% of the stock is owned by hedge funds and other institutional investors.

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.