Molson Coors Beverage (NYSE:TAP) Reaches New 52-Week Low – Here’s Why

Molson Coors Beverage Company (NYSE:TAP) hit a new 52-week low during mid-day trading on Friday. The company traded as low as $35.90 and last traded at $35.9260, with a volume of 287392 shares changing hands. The stock had previously closed at $36.35.

Analyst Upgrades and Downgrades

TAP has been the topic of a number of recent research reports. Weiss Ratings reissued a “sell (d)” rating on shares of Molson Coors Beverage in a report on Monday. TD Cowen upgraded Molson Coors Beverage to a “hold” rating in a research report on Friday, June 26th. Citigroup reduced their price target on shares of Molson Coors Beverage from $47.00 to $42.00 and set a “neutral” rating for the company in a research report on Tuesday, July 14th. JPMorgan Chase & Co. lifted their price target on Molson Coors Beverage from $41.00 to $42.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $50.00 target price on shares of Molson Coors Beverage in a research note on Friday, August 7th. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $44.06.

Molson Coors Beverage Stock Down 1.4%

The company has a market capitalization of $6.72 billion, a PE ratio of -3.11 and a beta of 0.42. The firm has a 50-day simple moving average of $40.72 and a 200 day simple moving average of $41.35. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.88 and a quick ratio of 0.72.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Thursday, August 6th. The company reported $1.58 earnings per share for the quarter, beating the consensus estimate of $1.51 by $0.07. Molson Coors Beverage had a positive return on equity of 9.46% and a negative net margin of 17.83%.The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the firm earned $2.05 earnings per share. The company’s revenue was down 3.3% on a year-over-year basis. Molson Coors Beverage has set its FY 2026 guidance at 4.607-4.823 EPS. On average, research analysts predict that Molson Coors Beverage Company will post 4.81 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, August 28th were issued a $0.48 dividend. The ex-dividend date of this dividend was Friday, August 28th. This represents a $1.92 annualized dividend and a dividend yield of 5.4%. Molson Coors Beverage’s dividend payout ratio (DPR) is -16.64%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Dimensional Fund Advisors LP raised its stake in shares of Molson Coors Beverage by 10.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,363,157 shares of the company’s stock worth $360,117,000 after buying an additional 790,314 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Molson Coors Beverage by 16.4% during the first quarter. Bank of New York Mellon Corp now owns 3,326,427 shares of the company’s stock valued at $143,236,000 after acquiring an additional 469,607 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Molson Coors Beverage by 265.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,922,022 shares of the company’s stock valued at $136,400,000 after purchasing an additional 2,122,085 shares in the last quarter. Norges Bank purchased a new position in shares of Molson Coors Beverage during the fourth quarter valued at $125,755,000. Finally, Arrowstreet Capital Limited Partnership raised its position in Molson Coors Beverage by 152.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,531,145 shares of the company’s stock valued at $118,154,000 after buying an additional 1,528,004 shares during the period. 78.46% of the stock is owned by institutional investors and hedge funds.

Molson Coors Beverage Company Profile

Molson Coors Beverage Company is a global brewer headquartered in Golden, Colorado, and Montreal, Canada. The company produces, markets and distributes beer and other alcoholic beverages through operations in North America, Europe and other international markets.

Its portfolio includes well-known brands such as Coors, Miller, Molson, Carling, Blue Moon, Leinenkugel’s, Peroni Nastro Azzurro, Staropramen and Cobra. Molson Coors also offers a range of flavored alcoholic beverages, hard seltzers and other beverages designed to serve changing consumer preferences.

The company traces its history to the founding of Molson Brewery in Montreal in 1786 and the establishment of Coors Brewing Company in Colorado in 1873.