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

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

A number of other analysts have also recently issued reports on TAP. Bank of America raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $57.00 to $70.00 in a report on Friday, December 6th. Barclays reduced their price target on Molson Coors Beverage from $51.00 to $48.00 and set an “underweight” rating on the stock in a research report on Friday, January 17th. BNP Paribas began coverage on Molson Coors Beverage in a research report on Monday, November 25th. They issued a “neutral” rating and a $64.00 price objective on the stock. TD Cowen lowered their target price on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a research note on Tuesday, October 8th. Finally, Needham & Company LLC started coverage on Molson Coors Beverage in a research note on Friday, December 6th. They set a “buy” rating and a $72.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $61.64.

Molson Coors Beverage Price Performance

Shares of NYSE:TAP opened at $53.40 on Friday. The stock’s 50 day moving average is $57.68 and its 200-day moving average is $56.25. Molson Coors Beverage has a twelve month low of $49.19 and a twelve month high of $69.18. The firm has a market capitalization of $11.00 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 2.52 and a beta of 0.85. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.13. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.13 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. Molson Coors Beverage’s revenue was down 7.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.92 earnings per share. Sell-side analysts forecast that Molson Coors Beverage will post 5.79 EPS for the current fiscal year.

Institutional Investors Weigh In On Molson Coors Beverage

Several institutional investors have recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its stake in Molson Coors Beverage by 7.4% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 146,029 shares of the company’s stock worth $7,423,000 after purchasing an additional 10,014 shares in the last quarter. Creative Planning grew its stake in shares of Molson Coors Beverage by 6.5% during the second quarter. Creative Planning now owns 16,472 shares of the company’s stock worth $837,000 after purchasing an additional 1,003 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of Molson Coors Beverage during the second quarter worth $2,349,000. Czech National Bank increased its position in shares of Molson Coors Beverage by 3.3% during the third quarter. Czech National Bank now owns 35,790 shares of the company’s stock worth $2,059,000 after purchasing an additional 1,139 shares in the last quarter. Finally, GAMMA Investing LLC raised its position in Molson Coors Beverage by 75.3% in the 3rd quarter. GAMMA Investing LLC now owns 3,293 shares of the company’s stock valued at $189,000 after purchasing an additional 1,415 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Company Profile

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.