Molson Coors Beverage (NYSE:TAP) Price Target Lowered to $42.00 at Citigroup

Molson Coors Beverage (NYSE:TAP) had its target price lowered by Citigroup from $47.00 to $42.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other research analysts have also commented on the company. JPMorgan Chase & Co. dropped their price target on Molson Coors Beverage from $45.00 to $43.00 and set a “neutral” rating for the company in a research report on Monday, April 27th. Zacks Research upgraded Molson Coors Beverage from a “strong sell” rating to a “hold” rating in a research report on Monday, April 13th. Morgan Stanley lowered their price objective on Molson Coors Beverage from $52.00 to $46.00 and set an “equal weight” rating for the company in a research note on Monday, May 4th. Needham & Company LLC dropped their target price on Molson Coors Beverage from $52.00 to $50.00 and set a “buy” rating for the company in a report on Friday, May 1st. Finally, Jefferies Financial Group cut their target price on Molson Coors Beverage from $43.00 to $41.00 in a research report on Friday, June 12th. Four research 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.com, the stock presently has a consensus rating of “Hold” and an average price target of $44.35.

Molson Coors Beverage Trading Down 2.4%

Shares of TAP opened at $38.93 on Tuesday. The stock has a market capitalization of $7.30 billion, a PE ratio of -3.66 and a beta of 0.42. The company’s fifty day moving average is $40.41 and its 200 day moving average is $44.38. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.38 and a current ratio of 0.54. Molson Coors Beverage has a fifty-two week low of $38.04 and a fifty-two week high of $54.82.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Friday, May 1st. The company reported $0.62 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $2.33 billion. During the same quarter last year, the business earned $0.50 earnings per share. Molson Coors Beverage’s quarterly revenue was up 2.0% compared to the same quarter last year. Sell-side analysts expect that Molson Coors Beverage will post 4.8 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, June 12th. Investors of record on Friday, May 29th were paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend was Friday, May 29th. Molson Coors Beverage’s dividend payout ratio (DPR) is currently -18.05%.

Insider Buying and Selling

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,245 shares of the company’s stock in a transaction on Thursday, May 21st. The stock was sold at an average price of $42.50, for a total value of $52,912.50. Following the transaction, the director owned 9,871 shares of the company’s stock, valued at $419,517.50. This represents a 11.20% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.27% of the stock is owned by company insiders.

Institutional Trading of Molson Coors Beverage

Several institutional investors and hedge funds have recently made changes to their positions in the business. Wedge Capital Management L L P NC increased its stake in Molson Coors Beverage by 9.5% in the 2nd quarter. Wedge Capital Management L L P NC now owns 102,543 shares of the company’s stock worth $3,995,000 after buying an additional 8,862 shares during the period. Fulton Bank N.A. lifted its holdings in Molson Coors Beverage by 22.1% during the 2nd quarter. Fulton Bank N.A. now owns 6,027 shares of the company’s stock valued at $235,000 after buying an additional 1,089 shares in the last quarter. Wilsey Asset Management Inc. boosted its position in Molson Coors Beverage by 11.8% in the 2nd quarter. Wilsey Asset Management Inc. now owns 755,639 shares of the company’s stock valued at $29,440,000 after buying an additional 79,913 shares during the period. Red Spruce Capital LLC grew its stake in Molson Coors Beverage by 68.0% in the 2nd quarter. Red Spruce Capital LLC now owns 40,036 shares of the company’s stock worth $1,560,000 after acquiring an additional 16,202 shares in the last quarter. Finally, CX Institutional grew its stake in Molson Coors Beverage by 496.8% in the 2nd quarter. CX Institutional now owns 1,325 shares of the company’s stock worth $52,000 after acquiring an additional 1,103 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors.

Molson Coors Beverage Company Profile

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.