Molson Coors Beverage (NYSE:TAP) Stock Rating Lowered by StockNews.com

Molson Coors Beverage (NYSE:TAP) was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued on Thursday.

Several other analysts also recently weighed in on the stock. Piper Sandler initiated coverage on shares of Molson Coors Beverage in a report on Friday, March 22nd. They issued a “neutral” rating and a $69.00 target price for the company. UBS Group dropped their price objective on Molson Coors Beverage from $70.00 to $64.00 and set a “neutral” rating for the company in a research note on Wednesday. The Goldman Sachs Group raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their target price for the stock from $66.00 to $75.00 in a research note on Tuesday, April 9th. Citigroup dropped their target price on Molson Coors Beverage from $56.00 to $53.00 and set a “sell” rating for the company in a research report on Wednesday. Finally, Evercore ISI reduced their price target on shares of Molson Coors Beverage from $70.00 to $68.00 and set an “outperform” rating on the stock in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $65.53.

Molson Coors Beverage Trading Up 0.1 %

Shares of NYSE TAP traded up $0.05 during mid-day trading on Thursday, reaching $57.85. 2,054,717 shares of the company’s stock were exchanged, compared to its average volume of 2,096,558. The company’s 50-day moving average is $64.77 and its 200-day moving average is $62.32. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.69. The firm has a market capitalization of $12.30 billion, a price-to-earnings ratio of 11.57, a PEG ratio of 2.00 and a beta of 0.86. Molson Coors Beverage has a 52-week low of $55.67 and a 52-week high of $70.90.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Tuesday, April 30th. The company reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.74 by $0.21. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. The company had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.50 billion. During the same quarter last year, the firm posted $0.54 earnings per share. Molson Coors Beverage’s revenue was up 10.7% compared to the same quarter last year. Analysts expect that Molson Coors Beverage will post 5.68 EPS for the current fiscal year.

Insider Buying and Selling

In other Molson Coors Beverage news, CFO Tracey Joubert sold 2,771 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $60.37, for a total value of $167,285.27. Following the transaction, the chief financial officer now directly owns 60,538 shares in the company, valued at $3,654,679.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.71% of the stock is owned by company insiders.

Hedge Funds Weigh In On Molson Coors Beverage

Several large investors have recently bought and sold shares of TAP. Kestra Private Wealth Services LLC boosted its position in shares of Molson Coors Beverage by 19.5% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 11,415 shares of the company’s stock valued at $726,000 after purchasing an additional 1,859 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Molson Coors Beverage by 6,418.1% in the 4th quarter. International Assets Investment Management LLC now owns 151,416 shares of the company’s stock valued at $9,268,000 after acquiring an additional 149,093 shares during the period. SkyView Investment Advisors LLC raised its position in Molson Coors Beverage by 3.4% in the 3rd quarter. SkyView Investment Advisors LLC now owns 12,343 shares of the company’s stock valued at $785,000 after purchasing an additional 408 shares during the last quarter. Metis Global Partners LLC boosted its stake in Molson Coors Beverage by 24.2% during the 3rd quarter. Metis Global Partners LLC now owns 11,201 shares of the company’s stock worth $712,000 after purchasing an additional 2,183 shares during the period. Finally, Beck Bode LLC purchased a new position in Molson Coors Beverage during the 4th quarter worth $1,785,000. Institutional investors and hedge funds own 78.46% of the company’s stock.

About Molson Coors Beverage

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.