Analysts Set Molson Coors Beverage Company (NYSE:TAP) PT at $56.24

Molson Coors Beverage Company (NYSE:TAP) has been given a consensus recommendation of “Hold” by the seventeen ratings firms that are covering the company, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. The average 1 year target price among analysts that have covered the stock in the last year is $54.5563.

A number of equities research analysts have recently weighed in on the company. Jefferies Financial Group cut their price target on Molson Coors Beverage from $51.00 to $48.00 and set a “hold” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. initiated coverage on Molson Coors Beverage in a research report on Wednesday. They issued a “neutral” rating and a $49.00 target price on the stock. Morgan Stanley reduced their price target on Molson Coors Beverage from $58.00 to $53.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 6th. Citigroup decreased their price target on Molson Coors Beverage from $51.00 to $49.00 and set a “neutral” rating for the company in a research note on Thursday, October 9th. Finally, UBS Group cut their price objective on shares of Molson Coors Beverage from $49.00 to $47.00 and set a “neutral” rating on the stock in a research note on Wednesday.

Molson Coors Beverage Stock Performance

Shares of TAP opened at $46.27 on Wednesday. The firm has a fifty day moving average of $46.47 and a 200-day moving average of $50.07. The company has a market cap of $9.15 billion, a price-to-earnings ratio of 9.13, a price-to-earnings-growth 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. Molson Coors Beverage has a 1 year low of $42.94 and a 1 year high of $64.66.

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

Insider Activity at Molson Coors Beverage

In related news, Director David S. Coors purchased 2,245 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were bought at an average cost of $44.47 per share, for a total transaction of $99,835.15. Following the transaction, the director owned 30,586 shares of the company’s stock, valued at $1,360,159.42. This represents a 7.92% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 2.71% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Root Financial Partners LLC acquired a new stake in Molson Coors Beverage in the third quarter worth approximately $25,000. Millstone Evans Group LLC raised its stake in shares of Molson Coors Beverage by 151.8% in the 1st quarter. Millstone Evans Group LLC now owns 423 shares of the company’s stock worth $26,000 after buying an additional 255 shares in the last quarter. Clearstead Trust LLC lifted its holdings in shares of Molson Coors Beverage by 952.8% in the second quarter. Clearstead Trust LLC now owns 558 shares of the company’s stock valued at $27,000 after buying an additional 505 shares during the period. Smartleaf Asset Management LLC boosted its stake in 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 buying an additional 221 shares in the last quarter. Finally, Elequin Capital LP bought a new position in Molson Coors Beverage during the first quarter valued at about $30,000. Institutional investors and hedge funds 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.