Wells Fargo & Company Downgrades Molson Coors Beverage (NYSE:TAP) to Equal Weight

Molson Coors Beverage (NYSE:TAP) was downgraded by Wells Fargo & Company from an “overweight” rating to an “equal weight” rating in a report released on Wednesday, Marketbeat reports. They presently have a $50.00 price target on the stock, down from their prior price target of $53.00. Wells Fargo & Company‘s price objective would indicate a potential upside of 9.82% from the company’s current price.

Several other research analysts have also recently issued reports on the company. Morgan Stanley decreased their price target 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. UBS Group reduced their price objective on shares of Molson Coors Beverage from $49.00 to $47.00 and set a “neutral” rating for the company in a report on Wednesday, November 5th. Zacks Research raised shares of Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a research note on Friday, November 14th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Molson Coors Beverage in a research note on Monday. Finally, JPMorgan Chase & Co. began coverage on shares of Molson Coors Beverage in a report on Wednesday, November 5th. They issued a “neutral” rating and a $49.00 price objective for the company. Five research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $54.37.

Molson Coors Beverage Price Performance

NYSE TAP opened at $45.53 on Wednesday. The company has a 50-day moving average price of $45.83 and a two-hundred day moving average price of $49.36. Molson Coors Beverage has a 52 week low of $42.94 and a 52 week high of $64.66. The stock has a market cap of $9.00 billion, a price-to-earnings ratio of 8.98, a price-to-earnings-growth ratio of 1.60 and a beta of 0.65. 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 issued its quarterly earnings data on Tuesday, November 4th. The company reported $1.67 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.05). Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%.The business had revenue of $2.97 billion for the quarter, compared to analyst estimates of $3.02 billion. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. Analysts forecast that Molson Coors Beverage will post 6.35 EPS for the current year.

Insider Activity at Molson Coors Beverage

In other Molson Coors Beverage news, Director Andrew Thomas Molson purchased 7,500 shares of the firm’s stock in a transaction on Monday, November 10th. The shares were purchased at an average price of $46.79 per share, for a total transaction of $350,925.00. Following the completion of the transaction, the director owned 22,654 shares in the company, valued at $1,059,980.66. This represents a 49.49% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David S. Coors purchased 2,245 shares of the company’s stock in a transaction on Wednesday, November 5th. The stock was bought at an average cost of $44.47 per share, for a total transaction of $99,835.15. Following the acquisition, the director directly owned 30,586 shares of the company’s stock, valued at $1,360,159.42. This represents a 7.92% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders own 2.71% of the company’s stock.

Hedge Funds Weigh In On Molson Coors Beverage

A number of hedge funds have recently modified their holdings of TAP. Vanguard Group Inc. lifted its holdings in shares of Molson Coors Beverage by 0.4% during the second quarter. Vanguard Group Inc. now owns 21,208,854 shares of the company’s stock valued at $1,019,934,000 after purchasing an additional 92,058 shares during the last quarter. Dodge & Cox raised its holdings in Molson Coors Beverage by 29.4% during the 3rd quarter. Dodge & Cox now owns 18,631,224 shares of the company’s stock worth $843,063,000 after buying an additional 4,235,029 shares during the period. State Street Corp lifted its stake in Molson Coors Beverage by 19.2% during the third quarter. State Street Corp now owns 10,516,810 shares of the company’s stock valued at $475,886,000 after buying an additional 1,693,682 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in Molson Coors Beverage by 22.9% during the third quarter. Dimensional Fund Advisors LP now owns 6,425,043 shares of the company’s stock valued at $290,741,000 after buying an additional 1,195,249 shares in the last quarter. Finally, LSV Asset Management boosted its holdings in shares of Molson Coors Beverage by 1.4% in the first 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 period. 78.46% of the stock is currently owned by institutional investors and hedge funds.

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.