Molson Coors Beverage (NYSE:TAP) Hits New 1-Year Low – Here’s Why

Molson Coors Beverage Company (NYSE:TAP)’s share price hit a new 52-week low on Thursday . The company traded as low as $40.56 and last traded at $40.9370, with a volume of 661775 shares trading hands. The stock had previously closed at $41.87.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Evercore cut their target price on shares of Molson Coors Beverage from $50.00 to $47.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 21st. Bank of America lowered shares of Molson Coors Beverage from a “neutral” rating to an “underperform” rating and cut their target price for the company from $50.00 to $42.00 in a research report on Wednesday, February 25th. Piper Sandler cut their target price on shares of Molson Coors Beverage from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Thursday, February 19th. Sanford C. Bernstein cut their target price on shares of Molson Coors Beverage from $74.00 to $45.00 and set a “market perform” rating on the stock in a research report on Tuesday. Finally, UBS Group dropped their price objective on shares of Molson Coors Beverage from $50.00 to $45.00 and set a “neutral” rating for the company in a report on Tuesday, April 7th. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $45.29.

Molson Coors Beverage Trading Down 2.1%

The company has a quick ratio of 0.38, a current ratio of 0.54 and a debt-to-equity ratio of 0.38. The company has a market cap of $7.69 billion, a P/E ratio of -3.86 and a beta of 0.44. The firm’s 50 day moving average is $42.77 and its two-hundred day moving average is $46.03.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Friday, May 1st. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.26. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.33 billion. Molson Coors Beverage had a negative net margin of 16.14% and a positive return on equity of 9.79%. Molson Coors Beverage’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.50 earnings per share. As a group, equities research analysts anticipate that Molson Coors Beverage Company will post 4.74 EPS for the current year.

Molson Coors Beverage Dividend Announcement

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

Insider Buying and Selling at Molson Coors Beverage

In related news, Director Geoffrey E. Molson sold 1,245 shares of the business’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $42.50, for a total value of $52,912.50. Following the transaction, the director owned 9,871 shares in the company, valued at $419,517.50. The trade was a 11.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Andrew Thomas Molson bought 2,000 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The stock was purchased at an average price of $46.67 per share, for a total transaction of $93,340.00. Following the acquisition, the director 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 SEC filing for this purchase provides additional information. 2.27% of the stock is owned by insiders.

Hedge Funds Weigh In On Molson Coors Beverage

Several hedge funds and other institutional investors have recently bought and sold shares of TAP. Root Financial Partners LLC acquired a new position in shares of Molson Coors Beverage during the third quarter valued at about $25,000. GoalVest Advisory LLC acquired a new position in shares of Molson Coors Beverage during the fourth quarter valued at about $25,000. SBI Securities Co. Ltd. raised its holdings in shares of 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 during the period. Basepoint Wealth LLC acquired a new position in shares of Molson Coors Beverage during the fourth quarter valued at about $26,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of 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 during the period. Institutional investors and hedge funds 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.