Molson Coors Beverage Company (NYSE:TAP) Given Average Recommendation of “Hold” by Brokerages

Molson Coors Beverage Company (NYSE:TAP) has been assigned an average recommendation of “Hold” from the seventeen ratings firms that are covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, ten have assigned a hold recommendation and six have assigned a buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $56.2438.

Several research analysts have weighed in on the company. Citigroup cut their price target on Molson Coors Beverage from $51.00 to $49.00 and set a “neutral” rating for the company in a report on Thursday, October 9th. Needham & Company LLC cut their price target on Molson Coors Beverage from $58.00 to $54.00 and set a “buy” rating for the company in a report on Monday. Weiss Ratings reiterated a “hold (c)” rating on shares of Molson Coors Beverage in a report on Tuesday, October 14th. Evercore ISI cut their price target on Molson Coors Beverage from $58.00 to $53.00 and set an “outperform” rating for the company in a report on Wednesday, August 6th. Finally, The Goldman Sachs Group cut their price target on Molson Coors Beverage from $67.00 to $57.00 and set a “buy” rating for the company in a report on Thursday, October 2nd.

Molson Coors Beverage Trading Up 0.9%

Shares of Molson Coors Beverage stock opened at $43.61 on Wednesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.67. Molson Coors Beverage has a 1 year low of $42.94 and a 1 year high of $64.66. The company has a market capitalization of $8.62 billion, a P/E ratio of 8.60, a P/E/G ratio of 1.60 and a beta of 0.63. The business has a 50 day moving average price of $46.80 and a 200 day moving average price of $50.23.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results 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. The company had revenue of $3.20 billion during the quarter, compared to the consensus estimate of $3.12 billion. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%.Molson Coors Beverage’s revenue was down 1.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.92 EPS. Sell-side analysts anticipate that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Institutional Trading of Molson Coors Beverage

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Molson Coors Beverage by 0.4% during the 2nd quarter. Vanguard Group Inc. now owns 21,208,854 shares of the company’s stock worth $1,019,934,000 after buying an additional 92,058 shares during the last quarter. Dodge & Cox increased its holdings in shares of Molson Coors Beverage by 2.3% during the 2nd quarter. Dodge & Cox now owns 14,396,195 shares of the company’s stock worth $692,313,000 after buying an additional 327,885 shares during the last quarter. LSV Asset Management increased its holdings in shares of Molson Coors Beverage by 1.4% during the 1st quarter. LSV Asset Management now owns 6,369,498 shares of the company’s stock worth $387,711,000 after buying an additional 86,601 shares during the last quarter. Clarkston Capital Partners LLC increased its holdings 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 buying an additional 33,535 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings 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 buying an additional 750,388 shares during the last quarter. 78.46% of the stock is currently 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.