Molson Coors Beverage (NYSE:TAP) Price Target Lowered to $41.00 at Jefferies Financial Group

Molson Coors Beverage (NYSE:TAP) had its price objective decreased by Jefferies Financial Group from $43.00 to $41.00 in a research note published on Friday,MarketScreener reports.

A number of other brokerages have also weighed in on TAP. Wall Street Zen lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Sunday, May 17th. JPMorgan Chase & Co. dropped their price objective on shares of Molson Coors Beverage from $45.00 to $43.00 and set a “neutral” rating on the stock in a report on Monday, April 27th. Zacks Research raised shares of Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a report on Monday, April 13th. Piper Sandler dropped their price objective on shares of Molson Coors Beverage from $50.00 to $45.00 and set a “neutral” rating on the stock in a report on Thursday, February 19th. Finally, Roth Mkm set a $58.00 price objective on shares of Molson Coors Beverage in a report on Thursday, February 19th. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $44.88.

Molson Coors Beverage Stock Performance

Shares of NYSE:TAP opened at $41.56 on Friday. The company has a market capitalization of $7.79 billion, a price-to-earnings ratio of -3.91 and a beta of 0.41. Molson Coors Beverage has a 52 week low of $38.04 and a 52 week high of $54.82. The company has a quick ratio of 0.38, a current ratio of 0.54 and a debt-to-equity ratio of 0.38. The firm has a 50 day moving average of $42.19 and a 200 day moving average of $45.49.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Friday, May 1st. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.26. Molson Coors Beverage had a negative net margin of 16.14% and a positive return on equity of 9.79%. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.33 billion. During the same period in the previous year, the company earned $0.50 earnings per share. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, sell-side analysts predict that Molson Coors Beverage will post 4.8 earnings per share for the current fiscal year.

Molson Coors Beverage Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 12th. Stockholders of record on Friday, May 29th were issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date was Friday, May 29th. Molson Coors Beverage’s dividend payout ratio (DPR) is presently -18.05%.

Insider Buying and Selling at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,245 shares of the firm’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $42.50, for a total value of $52,912.50. Following the sale, the director directly owned 9,871 shares in the company, valued at approximately $419,517.50. This trade represents a 11.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.27% of the company’s stock.

Institutional Investors Weigh In On Molson Coors Beverage

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Dodge & Cox raised its stake in Molson Coors Beverage by 29.4% during the 3rd quarter. Dodge & Cox now owns 18,631,224 shares of the company’s stock worth $843,063,000 after acquiring an additional 4,235,029 shares in the last quarter. State Street Corp increased its stake in Molson Coors Beverage by 19.2% in the third quarter. State Street Corp now owns 10,516,810 shares of the company’s stock valued at $475,886,000 after purchasing an additional 1,693,682 shares during the period. Dimensional Fund Advisors LP increased its stake in Molson Coors Beverage by 10.4% in the first quarter. Dimensional Fund Advisors LP now owns 8,363,157 shares of the company’s stock valued at $360,117,000 after purchasing an additional 790,314 shares during the period. Invesco Ltd. increased its stake in Molson Coors Beverage by 1.2% in the fourth quarter. Invesco Ltd. now owns 4,485,000 shares of the company’s stock valued at $209,360,000 after purchasing an additional 54,456 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Molson Coors Beverage by 16.4% in 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 purchasing an additional 469,607 shares during the period. 78.46% of the stock is currently owned by institutional investors and hedge funds.

About Molson Coors Beverage

Molson Coors Beverage Company is a leading multinational brewing and beverage enterprise formed through the 2005 merger of Canada’s Molson and the United States’ Coors. The company develops, markets and distributes an array of alcoholic and non-alcoholic beverages, focusing primarily on beer and ready-to-drink products. Its portfolio spans flagship brands such as Coors Light, Molson Canadian and Miller Lite, alongside craft-style offerings like Blue Moon and global imports including Carling and Staropramen.

In addition to its core beer business, Molson Coors has expanded into adjacent categories to capture evolving consumer tastes.