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

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

Several other equities analysts also recently issued reports on TAP. Hsbc Global Res downgraded shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. Bank of America upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $57.00 to $70.00 in a report on Friday, December 6th. Needham & Company LLC assumed coverage on Molson Coors Beverage in a research note on Friday, December 6th. They issued a “buy” rating and a $72.00 price target for the company. UBS Group decreased their target price on Molson Coors Beverage from $60.00 to $58.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Finally, TD Cowen cut their price target on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a report on Tuesday, October 8th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $61.64.

Molson Coors Beverage Price Performance

TAP opened at $53.40 on Friday. The company’s 50 day simple moving average is $57.68 and its 200 day simple moving average is $56.25. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The stock has a market capitalization of $11.00 billion, a PE ratio of 12.03, a P/E/G ratio of 2.52 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.67 by $0.13. The company 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 business’s quarterly revenue was down 7.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.92 earnings per share. As a group, sell-side analysts expect that Molson Coors Beverage will post 5.79 EPS for the current year.

Institutional Investors Weigh In On Molson Coors Beverage

Several hedge funds have recently made changes to their positions in TAP. Farther Finance Advisors LLC lifted its holdings 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 valued at $99,000 after purchasing an additional 182 shares in the last quarter. Integrated Investment Consultants LLC boosted its stake in shares of Molson Coors Beverage by 4.7% in the third quarter. Integrated Investment Consultants LLC now owns 4,154 shares of the company’s stock worth $239,000 after acquiring an additional 185 shares during the period. Perpetual Ltd boosted its stake in Molson Coors Beverage by 1.0% during the third quarter. Perpetual Ltd now owns 20,543 shares of the company’s stock valued at $1,182,000 after buying an additional 197 shares during the last quarter. Pallas Capital Advisors LLC boosted its stake in Molson Coors Beverage by 1.2% during 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 during the last quarter. Finally, Venturi Wealth Management LLC boosted its stake in Molson Coors Beverage by 7.4% during the fourth quarter. Venturi Wealth Management LLC now owns 2,935 shares of the company’s stock valued at $168,000 after buying an additional 202 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors.

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.