Molson Coors Beverage (NYSE:TAP) Price Target Lowered to $57.00 at The Goldman Sachs Group

Molson Coors Beverage (NYSE:TAP) had its price objective trimmed by The Goldman Sachs Group from $67.00 to $57.00 in a report issued on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

Other research analysts also recently issued research reports about the company. Needham & Company LLC reduced their price objective on Molson Coors Beverage from $65.00 to $58.00 and set a “buy” rating for the company in a research note on Wednesday, August 6th. Sanford C. Bernstein reduced their price objective on Molson Coors Beverage from $65.00 to $55.00 and set a “market perform” rating for the company in a research note on Wednesday, July 9th. Morgan Stanley reduced their price objective on Molson Coors Beverage from $58.00 to $53.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 6th. JPMorgan Chase & Co. reduced their price objective on Molson Coors Beverage from $62.00 to $53.00 and set a “neutral” rating for the company in a research note on Thursday, July 31st. Finally, Jefferies Financial Group reduced their price objective on Molson Coors Beverage from $52.00 to $50.00 and set a “hold” rating for the company in a research note on Tuesday. Six research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $56.88.

Molson Coors Beverage Trading Up 0.2%

Shares of Molson Coors Beverage stock opened at $46.13 on Thursday. The stock has a fifty day simple moving average of $49.07 and a 200 day simple moving average of $52.70. Molson Coors Beverage has a 12-month low of $43.80 and a 12-month high of $64.66. The company has a market capitalization of $9.12 billion, a P/E ratio of 9.10, a price-to-earnings-growth ratio of 1.68 and a beta of 0.63. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.83 by $0.22. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%.The business had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter in the prior year, the company posted $1.92 earnings per share. Molson Coors Beverage’s revenue was down 1.6% compared to the same quarter last year. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. On average, sell-side analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were issued a $0.47 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.88 annualized dividend and a dividend yield of 4.1%. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 37.08%.

Institutional Trading of Molson Coors Beverage

Several institutional investors and hedge funds have recently modified their holdings of TAP. Golden State Wealth Management LLC raised its holdings in shares of Molson Coors Beverage by 230.2% in the 1st quarter. Golden State Wealth Management LLC now owns 416 shares of the company’s stock valued at $25,000 after acquiring an additional 290 shares in the last quarter. Millstone Evans Group LLC raised its holdings in shares of Molson Coors Beverage by 151.8% in the 1st quarter. Millstone Evans Group LLC now owns 423 shares of the company’s stock valued at $26,000 after acquiring an additional 255 shares in the last quarter. Clearstead Trust LLC raised its holdings in shares of Molson Coors Beverage by 952.8% in the 2nd quarter. Clearstead Trust LLC now owns 558 shares of the company’s stock valued at $27,000 after acquiring an additional 505 shares in the last quarter. Smartleaf Asset Management LLC raised its holdings in shares of Molson Coors Beverage by 64.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock valued at $27,000 after acquiring an additional 221 shares in the last quarter. Finally, Elequin Capital LP purchased a new stake in shares of Molson Coors Beverage in the 1st quarter valued at about $30,000. Hedge funds and other institutional investors own 78.46% of the company’s stock.

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.