Sanford C. Bernstein Cuts Molson Coors Beverage (NYSE:TAP) Price Target to $50.00

Molson Coors Beverage (NYSE:TAP) had its price target reduced by Sanford C. Bernstein from $54.00 to $50.00 in a research note published on Wednesday,Benzinga reports. Sanford C. Bernstein currently has a market perform rating on the stock.

A number of other research analysts have also weighed in on TAP. Morgan Stanley reduced their price objective on shares of Molson Coors Beverage from $58.00 to $53.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 6th. Evercore ISI reduced their price target on Molson Coors Beverage from $53.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday. UBS Group decreased their price objective on Molson Coors Beverage from $52.00 to $49.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 8th. Barclays restated an “underweight” rating and issued a $50.00 target price (up previously from $49.00) on shares of Molson Coors Beverage in a research note on Friday, September 12th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Molson Coors Beverage from $62.00 to $53.00 and set a “neutral” rating on the stock in a report on Thursday, July 31st. Six analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $54.56.

Molson Coors Beverage Price Performance

NYSE TAP opened at $46.27 on Wednesday. The company has a market cap of $9.15 billion, a PE ratio of 9.13, a price-to-earnings-growth ratio of 1.60 and a beta of 0.65. Molson Coors Beverage has a 52 week low of $42.94 and a 52 week high of $64.66. The company has a quick ratio of 0.67, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. The firm’s 50-day simple moving average is $46.47 and its two-hundred day simple moving average is $50.07.

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

Insider Buying and Selling at Molson Coors Beverage

In related news, Director David S. Coors acquired 2,245 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director owned 30,586 shares in the company, valued at approximately $1,360,159.42. This trade represents a 7.92% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 2.71% of the company’s stock.

Hedge Funds Weigh In On Molson Coors Beverage

A number of hedge funds and other institutional investors have recently bought and sold shares of TAP. Twin Capital Management Inc. increased its holdings in shares of Molson Coors Beverage by 0.7% in the 1st quarter. Twin Capital Management Inc. now owns 24,791 shares of the company’s stock worth $1,509,000 after buying an additional 180 shares during the last quarter. Geneos Wealth Management Inc. raised its position in Molson Coors Beverage by 32.9% during the first quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock valued at $49,000 after purchasing an additional 198 shares in the last quarter. Signet Financial Management LLC raised its position in Molson Coors Beverage by 3.7% during the second quarter. Signet Financial Management LLC now owns 5,757 shares of the company’s stock valued at $277,000 after purchasing an additional 208 shares in the last quarter. Callan Family Office LLC lifted its stake in Molson Coors Beverage by 5.0% during the first quarter. Callan Family Office LLC now owns 4,426 shares of the company’s stock worth $269,000 after purchasing an additional 209 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Molson Coors Beverage by 64.2% in the 2nd quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock worth $27,000 after purchasing an additional 221 shares in the last quarter. Hedge funds and other 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.