Molson Coors Beverage (NYSE:TAP) Receives Average Rating of “Reduce” from Analysts

Shares of Molson Coors Beverage (NYSE:TAP) have been assigned a consensus recommendation of “Reduce” from the fourteen analysts that are currently covering the stock, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have given a buy rating to the company. The average 1 year target price among analysts that have updated their coverage on the stock in the last year is $59.43.

Several equities analysts recently commented on TAP shares. UBS Group increased their target price on Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. TD Cowen cut their target price on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a research report on Tuesday, October 8th. Piper Sandler upped their price target on Molson Coors Beverage from $57.00 to $59.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. raised their price objective on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Finally, Bank of America lowered their target price on shares of Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating for the company in a report on Wednesday, July 10th.

Institutional Trading of Molson Coors Beverage

Several hedge funds and other institutional investors have recently made changes to their positions in TAP. Concurrent Investment Advisors LLC lifted its position in Molson Coors Beverage by 16.6% in the third quarter. Concurrent Investment Advisors LLC now owns 6,463 shares of the company’s stock valued at $372,000 after purchasing an additional 921 shares during the period. River Road Asset Management LLC lifted its holdings in shares of Molson Coors Beverage by 1.8% in the 3rd quarter. River Road Asset Management LLC now owns 1,677,241 shares of the company’s stock valued at $96,475,000 after buying an additional 29,315 shares during the period. Asset Management One Co. Ltd. boosted its stake in shares of Molson Coors Beverage by 4.3% in the third quarter. Asset Management One Co. Ltd. now owns 68,533 shares of the company’s stock valued at $3,942,000 after buying an additional 2,832 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in Molson Coors Beverage by 22.3% during the third quarter. Janney Montgomery Scott LLC now owns 22,789 shares of the company’s stock worth $1,311,000 after acquiring an additional 4,160 shares during the period. Finally, Private Management Group Inc. raised its position in Molson Coors Beverage by 5.5% in the third quarter. Private Management Group Inc. now owns 557,742 shares of the company’s stock worth $32,081,000 after acquiring an additional 29,294 shares in the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

Molson Coors Beverage Stock Performance

Shares of TAP opened at $55.49 on Friday. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The stock has a market capitalization of $11.76 billion, a PE ratio of 11.10, a PEG ratio of 2.35 and a beta of 0.81. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.75 and a current ratio of 0.95. The stock has a 50-day simple moving average of $55.16 and a 200-day simple moving average of $54.71.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $1.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.24. Molson Coors Beverage had a net margin of 8.27% and a return on equity of 9.58%. The company had revenue of $3.25 billion during the quarter, compared to the consensus estimate of $3.18 billion. During the same quarter in the previous year, the firm earned $1.78 earnings per share. The firm’s quarterly revenue was down .4% on a year-over-year basis. On average, analysts predict that Molson Coors Beverage will post 5.74 earnings per share for the current fiscal year.

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.