Molson Coors Beverage (TAP) – Investment Analysts’ Recent Ratings Updates

A number of firms have modified their ratings and price targets on shares of Molson Coors Beverage (NYSE: TAP) recently:

• 5/2/2024 – Molson Coors Beverage had its price target lowered by analysts at Barclays PLC from $67.00 to $62.00. They now have an “equal weight” rating on the stock.
• 5/1/2024 – Molson Coors Beverage had its price target lowered by analysts at Citigroup Inc. from $56.00 to $53.00. They now have a “sell” rating on the stock.
• 5/1/2024 – Molson Coors Beverage had its price target lowered by analysts at Evercore ISI from $70.00 to $68.00. They now have an “outperform” rating on the stock.
• 5/1/2024 – Molson Coors Beverage had its price target lowered by analysts at UBS Group AG from $70.00 to $64.00. They now have a “neutral” rating on the stock.
• 5/1/2024 – Molson Coors Beverage had its price target lowered by analysts at Bank of America Co. from $72.00 to $62.00. They now have a “neutral” rating on the stock.
• 5/1/2024 – Molson Coors Beverage had its price target lowered by analysts at JPMorgan Chase & Co. from $66.00 to $60.00. They now have a “neutral” rating on the stock.
• 4/24/2024 – Molson Coors Beverage was downgraded by analysts at Citigroup Inc. from a “neutral” rating to a “sell” rating. They now have a $56.00 price target on the stock, down previously from $66.00.
• 4/17/2024 – Molson Coors Beverage had its price target raised by analysts at Deutsche Bank Aktiengesellschaft from $64.00 to $65.00. They now have a “hold” rating on the stock.
• 4/16/2024 – Molson Coors Beverage had its price target raised by analysts at Citigroup Inc. from $63.00 to $66.00. They now have a “neutral” rating on the stock.
• 4/12/2024 – Molson Coors Beverage had its price target raised by analysts at Barclays PLC from $65.00 to $67.00. They now have an “equal weight” rating on the stock.
• 4/12/2024 – Molson Coors Beverage was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 4/9/2024 – Molson Coors Beverage was upgraded by analysts at The Goldman Sachs Group, Inc. from a “neutral” rating to a “buy” rating. They now have a $75.00 price target on the stock, up previously from $66.00.
• 3/22/2024 – Molson Coors Beverage is now covered by analysts at Piper Sandler. They set a “neutral” rating and a $69.00 price target on the stock.
• 3/11/2024 – Molson Coors Beverage was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.

Molson Coors Beverage Stock Performance

Shares of TAP traded up $1.43 during midday trading on Thursday, hitting $58.51. 1,444,145 shares of the stock traded hands, compared to its average volume of 1,744,523. Molson Coors Beverage has a 1-year low of $55.67 and a 1-year high of $70.90. The firm has a market capitalization of $12.44 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 1.98 and a beta of 0.86. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.69. The business’s 50 day moving average price is $64.96 and its two-hundred day moving average price is $62.36.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Tuesday, April 30th. The company reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.74 by $0.21. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. The company had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.50 billion. During the same quarter in the previous year, the company posted $0.54 earnings per share. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. Equities research analysts predict that Molson Coors Beverage will post 5.66 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.44 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.76 annualized dividend and a yield of 3.01%. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.41. Molson Coors Beverage’s dividend payout ratio is presently 35.20%.

Insider Buying and Selling

In related news, CFO Tracey Joubert sold 2,771 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $60.37, for a total value of $167,285.27. Following the completion of the sale, the chief financial officer now owns 60,538 shares of the company’s stock, valued at $3,654,679.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.71% of the company’s stock.

Institutional Investors Weigh In On Molson Coors Beverage

Several institutional investors have recently bought and sold shares of the stock. AQR Capital Management LLC lifted its holdings in Molson Coors Beverage by 76.0% in the third quarter. AQR Capital Management LLC now owns 3,475,114 shares of the company’s stock worth $218,168,000 after purchasing an additional 1,500,269 shares during the period. Morgan Stanley raised its position in Molson Coors Beverage by 40.2% in the third quarter. Morgan Stanley now owns 3,446,989 shares of the company’s stock worth $219,194,000 after acquiring an additional 988,864 shares in the last quarter. Invesco Ltd. raised its position in Molson Coors Beverage by 13.0% in the third quarter. Invesco Ltd. now owns 3,087,469 shares of the company’s stock worth $196,332,000 after acquiring an additional 355,694 shares in the last quarter. Pacer Advisors Inc. raised its position in Molson Coors Beverage by 9,466.3% in the fourth quarter. Pacer Advisors Inc. now owns 2,143,619 shares of the company’s stock worth $131,211,000 after acquiring an additional 2,121,211 shares in the last quarter. Finally, Norges Bank bought a new stake in Molson Coors Beverage in the fourth quarter worth about $127,337,000. Institutional investors and hedge funds own 78.46% of the company’s stock.

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.