UBS Group Has Lowered Expectations for Molson Coors Beverage (NYSE:TAP) Stock Price

Molson Coors Beverage (NYSE:TAP) had its price objective trimmed by UBS Group from $60.00 to $58.00 in a research report report published on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other research analysts also recently commented on TAP. Hsbc Global Res downgraded Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. StockNews.com raised Molson Coors Beverage from a “hold” rating to a “buy” rating in a research note on Monday, January 13th. Bank of America raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their target price for the company from $57.00 to $70.00 in a research report on Friday, December 6th. BNP Paribas assumed coverage on shares of Molson Coors Beverage in a research report on Monday, November 25th. They issued a “neutral” rating and a $64.00 price target on the stock. Finally, TD Cowen decreased their price objective on shares of Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a research report on Tuesday, October 8th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $61.79.

Molson Coors Beverage Stock Performance

NYSE:TAP opened at $55.33 on Thursday. The stock’s 50-day moving average is $59.10 and its 200-day moving average is $55.92. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. The stock has a market cap of $11.40 billion, a P/E ratio of 12.46, a price-to-earnings-growth ratio of 1.96 and a beta of 0.86.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, topping analysts’ consensus estimates of $1.67 by $0.13. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The company’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.92 EPS. Equities research analysts anticipate that Molson Coors Beverage will post 5.79 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 20th. Investors of record on Friday, December 6th were given a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 3.18%. The ex-dividend date was Friday, December 6th. Molson Coors Beverage’s payout ratio is 39.64%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its position in shares of Molson Coors Beverage by 11.8% during the third quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company’s stock worth $99,000 after purchasing an additional 182 shares during the period. Integrated Investment Consultants LLC increased its stake in Molson Coors Beverage by 4.7% during the 3rd quarter. Integrated Investment Consultants LLC now owns 4,154 shares of the company’s stock valued at $239,000 after purchasing an additional 185 shares in the last quarter. Perpetual Ltd raised its holdings in Molson Coors Beverage by 1.0% during the third quarter. Perpetual Ltd now owns 20,543 shares of the company’s stock worth $1,182,000 after buying an additional 197 shares during the last quarter. Pallas Capital Advisors LLC lifted its stake in shares of Molson Coors Beverage by 1.2% in the fourth quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company’s stock valued at $975,000 after buying an additional 199 shares in the last quarter. Finally, Red Spruce Capital LLC grew its holdings in shares of Molson Coors Beverage by 1.0% during the fourth quarter. Red Spruce Capital LLC now owns 27,010 shares of the company’s stock valued at $1,548,000 after buying an additional 273 shares during the last quarter. Institutional investors 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.