Molson Coors Beverage (NYSE:TAP) Given New $38.00 Price Target at Wells Fargo & Company

Molson Coors Beverage (NYSE:TAP) had its price objective lowered by Wells Fargo & Company from $41.00 to $38.00 in a report published on Monday morning,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

A number of other research firms have also weighed in on TAP. Deutsche Bank Aktiengesellschaft set a $41.00 price objective on Molson Coors Beverage in a research report on Wednesday, July 22nd. TD Cowen raised Molson Coors Beverage to a “hold” rating in a research note on Friday, June 26th. Piper Sandler lowered their target price on Molson Coors Beverage from $45.00 to $44.00 and set a “neutral” rating for the company in a research note on Friday, August 7th. JPMorgan Chase & Co. upped their price target on Molson Coors Beverage from $41.00 to $42.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Finally, UBS Group increased their price target on Molson Coors Beverage from $40.00 to $45.00 and gave the company a “neutral” rating in a research report on Friday, August 7th. Four investment analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $43.88.

Molson Coors Beverage Trading Down 0.8%

Shares of TAP stock opened at $36.55 on Monday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.72 and a current ratio of 0.88. The stock has a market capitalization of $6.86 billion, a P/E ratio of -3.17 and a beta of 0.43. The company has a 50 day moving average price of $40.09 and a 200 day moving average price of $40.97. Molson Coors Beverage has a fifty-two week low of $35.52 and a fifty-two week high of $54.82.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Thursday, August 6th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.51 by $0.07. Molson Coors Beverage had a negative net margin of 17.83% and a positive return on equity of 9.46%. The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the prior year, the business earned $2.05 EPS. The firm’s quarterly 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. Equities research analysts predict that Molson Coors Beverage will post 4.81 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Friday, August 28th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 5.3%. The ex-dividend date was Friday, August 28th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently -16.64%.

Institutional Investors Weigh In On Molson Coors Beverage

Several institutional investors have recently modified their holdings of TAP. Parrish Capital LLC increased its holdings in Molson Coors Beverage by 17.5% in the third quarter. Parrish Capital LLC now owns 22,959 shares of the company’s stock valued at $837,000 after buying an additional 3,414 shares during the last quarter. MAC Alpha Capital Management LP lifted its holdings in Molson Coors Beverage by 8.9% during the 2nd quarter. MAC Alpha Capital Management LP now owns 168,132 shares of the company’s stock worth $6,551,000 after buying an additional 13,800 shares during the last quarter. Core Capital Management & Research inc. purchased a new stake in Molson Coors Beverage during the 2nd quarter worth about $7,905,000. Sequoia Financial Advisors LLC boosted its position in shares of Molson Coors Beverage by 136.1% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 28,795 shares of the company’s stock worth $1,122,000 after acquiring an additional 16,597 shares in the last quarter. Finally, Tidal Investments LLC boosted its position in shares of Molson Coors Beverage by 10.0% during the 2nd quarter. Tidal Investments LLC now owns 98,246 shares of the company’s stock worth $3,828,000 after acquiring an additional 8,894 shares in the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Beverage Company Profile

Molson Coors Beverage Company is a global brewer that produces, markets and distributes beer and other beverage products. Its portfolio includes well-known brands such as Coors, Miller, Molson, Coors Light, Miller Lite, Blue Moon, Leinenkugel’s, Carling, Staropramen and Peroni Nastro Azzurro, along with a range of craft, premium, flavored and non-alcoholic beverages.

The company serves consumers through retail, hospitality and other distribution channels across North America, Europe and selected international markets.