Molson Coors Beverage (NYSE:TAP) Lowered to “Underperform” Rating by Bank of America

Bank of America downgraded shares of Molson Coors Beverage (NYSE:TAP) from a neutral rating to an underperform rating in a research note released on Wednesday, MarketBeat.com reports. They currently have $42.00 price target on the stock, down from their previous price target of $50.00.

Several other analysts also recently commented on TAP. TD Cowen dropped their price objective on shares of Molson Coors Beverage from $47.00 to $43.00 and set a “hold” rating on the stock in a report on Friday, February 20th. Needham & Company LLC lowered their price target on shares of Molson Coors Beverage from $54.00 to $52.00 and set a “buy” rating on the stock in a report on Thursday, February 19th. Barclays reaffirmed an “underweight” rating and set a $49.00 price target on shares of Molson Coors Beverage in a research report on Friday, January 16th. JPMorgan Chase & Co. initiated coverage on Molson Coors Beverage in a report on Wednesday, November 5th. They issued a “neutral” rating and a $49.00 price objective for the company. Finally, Wells Fargo & Company dropped their target price on Molson Coors Beverage from $54.00 to $52.00 and set an “equal weight” rating on the stock in a report on Thursday, February 19th. Five analysts have rated the stock with a Buy rating, nine have given a Hold rating and five have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Molson Coors Beverage currently has a consensus rating of “Hold” and a consensus price target of $51.35.

Molson Coors Beverage Stock Down 4.8%

Shares of TAP stock opened at $47.51 on Wednesday. Molson Coors Beverage has a fifty-two week low of $42.94 and a fifty-two week high of $64.66. The firm has a market capitalization of $9.39 billion, a PE ratio of -4.38 and a beta of 0.48. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.42 and a current ratio of 0.55. The stock’s 50-day simple moving average is $48.96 and its 200-day simple moving average is $47.84.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Wednesday, February 18th. The company reported $1.21 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.04. Molson Coors Beverage had a positive return on equity of 9.04% and a negative net margin of 16.41%.The firm had revenue of $2.66 billion during the quarter, compared to the consensus estimate of $2.71 billion. During the same quarter in the previous year, the company posted $1.30 earnings per share. The company’s revenue was down 2.7% compared to the same quarter last year. Molson Coors Beverage has set its FY 2026 guidance at 4.607-4.823 EPS. Equities analysts expect that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, March 20th. Investors of record on Friday, March 6th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Friday, March 6th. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.47. Molson Coors Beverage’s payout ratio is currently -17.33%.

Institutional Trading of Molson Coors Beverage

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Caxton Associates LLP acquired a new stake in Molson Coors Beverage in the 1st quarter valued at $202,000. United Services Automobile Association purchased a new position in Molson Coors Beverage during the first quarter valued at $215,000. Woodline Partners LP grew its position in shares of Molson Coors Beverage by 38.7% in the first quarter. Woodline Partners LP now owns 14,546 shares of the company’s stock valued at $885,000 after purchasing an additional 4,056 shares during the period. Geneos Wealth Management Inc. grew its position in shares of Molson Coors Beverage by 32.9% in the first quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock valued at $49,000 after purchasing an additional 198 shares during the period. Finally, Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Molson Coors Beverage by 7.6% during the second quarter. Sumitomo Mitsui Trust Group Inc. now owns 379,153 shares of the company’s stock worth $18,233,000 after purchasing an additional 26,810 shares in the last quarter. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

About Molson Coors Beverage

Molson Coors Beverage Company is a leading multinational brewing and beverage enterprise formed through the 2005 merger of Canada’s Molson and the United States’ Coors. The company develops, markets and distributes an array of alcoholic and non-alcoholic beverages, focusing primarily on beer and ready-to-drink products. Its portfolio spans flagship brands such as Coors Light, Molson Canadian and Miller Lite, alongside craft-style offerings like Blue Moon and global imports including Carling and Staropramen.

In addition to its core beer business, Molson Coors has expanded into adjacent categories to capture evolving consumer tastes.