Molson Coors Beverage (NYSE:TAP) Downgraded to “Hold” Rating by Wall Street Zen

Wall Street Zen lowered shares of Molson Coors Beverage (NYSE:TAP) from a buy rating to a hold rating in a research note released on Sunday morning.

A number of other equities analysts also recently issued reports on TAP. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $42.00 price objective on shares of Molson Coors Beverage in a report on Friday, May 1st. JPMorgan Chase & Co. dropped their price objective on shares of Molson Coors Beverage from $45.00 to $43.00 and set a “neutral” rating on the stock in a report on Monday, April 27th. Needham & Company LLC dropped their price objective on shares of Molson Coors Beverage from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Friday, May 1st. The Goldman Sachs Group raised their price objective on shares of Molson Coors Beverage from $48.00 to $50.00 in a report on Friday, May 1st. Finally, 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. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $45.71.

Molson Coors Beverage Stock Performance

Shares of TAP stock opened at $40.90 on Friday. The company has a 50 day moving average price of $43.23 and a 200-day moving average price of $46.14. Molson Coors Beverage has a 52 week low of $40.64 and a 52 week high of $57.57. The firm has a market capitalization of $7.67 billion, a PE ratio of -3.84 and a beta of 0.44. The company has a quick ratio of 0.38, a current ratio of 0.54 and a debt-to-equity ratio of 0.38.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Friday, May 1st. The company reported $0.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.26. The company had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.33 billion. Molson Coors Beverage had a negative net margin of 16.14% and a positive return on equity of 9.79%. The firm’s revenue was up 2.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.50 earnings per share. As a group, equities research analysts expect that Molson Coors Beverage will post 4.74 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, June 12th. Shareholders of record on Friday, May 29th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.92 annualized dividend and a yield of 4.7%. Molson Coors Beverage’s payout ratio is currently -18.05%.

Insiders Place Their Bets

In other news, Director Andrew Thomas Molson purchased 2,000 shares of the stock in a transaction on Monday, March 9th. The shares were acquired at an average price of $46.67 per share, with a total value of $93,340.00. Following the completion of the acquisition, the director directly owned 24,654 shares of the company’s stock, valued at $1,150,602.18. This trade represents a 8.83% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.27% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Molson Coors Beverage

Several large investors have recently added to or reduced their stakes in TAP. Root Financial Partners LLC purchased a new position in Molson Coors Beverage during the third quarter valued at approximately $25,000. GoalVest Advisory LLC purchased a new position in Molson Coors Beverage during the fourth quarter valued at approximately $25,000. SBI Securities Co. Ltd. lifted its holdings in Molson Coors Beverage by 84.1% during the fourth quarter. SBI Securities Co. Ltd. now owns 534 shares of the company’s stock valued at $25,000 after purchasing an additional 244 shares in the last quarter. Basepoint Wealth LLC purchased a new position in Molson Coors Beverage during the fourth quarter valued at approximately $26,000. Finally, Smartleaf Asset Management LLC lifted its holdings in Molson Coors Beverage by 64.2% during the second quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock valued at $27,000 after purchasing an additional 221 shares in the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

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.