UBS Group Issues Pessimistic Forecast for Molson Coors Beverage (NYSE:TAP) Stock Price

Molson Coors Beverage (NYSE:TAP) had its target price reduced by UBS Group from $53.00 to $52.00 in a research note published on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts have also recently commented on TAP. The Goldman Sachs Group decreased their price target on shares of Molson Coors Beverage from $77.00 to $67.00 and set a “buy” rating on the stock in a research note on Wednesday. Roth Capital set a $71.00 price target on Molson Coors Beverage and gave the company a “buy” rating in a report on Tuesday, May 20th. Wells Fargo & Company cut their price objective on shares of Molson Coors Beverage from $65.00 to $58.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 25th. Evercore ISI lowered their target price on shares of Molson Coors Beverage from $58.00 to $53.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Wall Street Zen downgraded shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Saturday, May 17th. Eleven investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $58.12.

Molson Coors Beverage Price Performance

NYSE TAP opened at $50.66 on Wednesday. Molson Coors Beverage has a 12 month low of $46.94 and a 12 month high of $64.66. The stock has a market cap of $10.24 billion, a price-to-earnings ratio of 9.99, a PEG ratio of 1.80 and a beta of 0.67. The company’s 50 day moving average is $49.91 and its two-hundred day moving average is $55.13. The company has a current ratio of 0.95, a quick ratio of 0.59 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.83 by $0.22. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%. The business had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the previous year, the business earned $1.92 earnings per share. The business’s revenue was down 1.6% on a year-over-year basis. As a group, research analysts anticipate that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.7%. The ex-dividend date is Friday, September 5th. Molson Coors Beverage’s dividend payout ratio is 37.08%.

Insider Transactions at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,333 shares of the stock in a transaction on Wednesday, May 21st. The shares were sold at an average price of $56.29, for a total value of $75,034.57. Following the sale, the director owned 27,595 shares in the company, valued at $1,553,322.55. This represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.71% of the company’s stock.

Institutional Investors Weigh In On Molson Coors Beverage

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TAP. Golden State Wealth Management LLC boosted its stake in shares of Molson Coors Beverage by 230.2% in the first quarter. Golden State Wealth Management LLC now owns 416 shares of the company’s stock worth $25,000 after buying an additional 290 shares during the last quarter. Millstone Evans Group LLC grew its stake in shares of Molson Coors Beverage by 151.8% during the 1st quarter. Millstone Evans Group LLC now owns 423 shares of the company’s stock worth $26,000 after purchasing an additional 255 shares during the period. Elequin Capital LP purchased a new position in shares of Molson Coors Beverage during the 1st quarter valued at approximately $30,000. Financial Management Professionals Inc. lifted its stake in shares of Molson Coors Beverage by 3,286.7% in the 1st quarter. Financial Management Professionals Inc. now owns 508 shares of the company’s stock valued at $31,000 after purchasing an additional 493 shares during the period. Finally, Eastern Bank purchased a new position in Molson Coors Beverage in the first quarter valued at $33,000. 78.46% of the stock is owned by institutional investors and hedge funds.

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.