Needham & Company LLC Cuts Molson Coors Beverage (NYSE:TAP) Price Target to $54.00

Molson Coors Beverage (NYSE:TAP) had its price target lowered by Needham & Company LLC from $58.00 to $54.00 in a research note published on Monday morning, Marketbeat reports. The firm currently has a buy rating on the stock.

TAP has been the subject of a number of other research reports. The Goldman Sachs Group dropped their target price on shares of Molson Coors Beverage from $67.00 to $57.00 and set a “buy” rating for the company in a research report on Thursday, October 2nd. Wells Fargo & Company dropped their target price on shares of Molson Coors Beverage from $58.00 to $55.00 and set an “overweight” rating for the company in a research report on Thursday, September 25th. JPMorgan Chase & Co. dropped their target price on shares of Molson Coors Beverage from $62.00 to $53.00 and set a “neutral” rating for the company in a research report on Thursday, July 31st. Barclays reiterated an “underweight” rating and set a $50.00 target price (up previously from $49.00) on shares of Molson Coors Beverage in a research report on Friday, September 12th. Finally, Citigroup dropped their target price on shares of Molson Coors Beverage from $51.00 to $49.00 and set a “neutral” rating for the company in a research report on Thursday, October 9th. Six analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $54.87.

Molson Coors Beverage Trading Up 3.5%

Shares of TAP stock opened at $45.19 on Monday. Molson Coors Beverage has a 52-week low of $42.94 and a 52-week high of $64.66. The stock has a market cap of $8.94 billion, a price-to-earnings ratio of 8.91, a P/E/G ratio of 1.60 and a beta of 0.65. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.95. The firm has a fifty day moving average of $46.68 and a 200-day moving average of $50.20.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $1.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.05). The business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $3.02 billion. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. On average, equities research analysts forecast that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of TAP. Norges Bank bought a new position in shares of Molson Coors Beverage in the 2nd quarter valued at about $134,289,000. Ameriprise Financial Inc. boosted its stake in shares of Molson Coors Beverage by 414.3% in the 1st quarter. Ameriprise Financial Inc. now owns 1,987,132 shares of the company’s stock valued at $120,960,000 after purchasing an additional 1,600,748 shares during the last quarter. Royal London Asset Management Ltd. boosted its stake in shares of Molson Coors Beverage by 317.9% in the 2nd quarter. Royal London Asset Management Ltd. now owns 2,044,028 shares of the company’s stock valued at $98,297,000 after purchasing an additional 1,554,851 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Molson Coors Beverage in the 2nd quarter valued at about $38,377,000. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Molson Coors Beverage by 20.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,503,879 shares of the company’s stock valued at $274,144,000 after purchasing an additional 750,388 shares during the last quarter. Institutional investors own 78.46% of the company’s stock.

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.