Molson Coors Beverage (NYSE:TAP) Rating Lowered to “Hold” at StockNews.com

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

Several other brokerages also recently weighed in on TAP. JPMorgan Chase & Co. lowered their target price on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a research note on Thursday. Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and increased their price target for the company from $52.00 to $74.00 in a report on Friday, November 8th. BNP Paribas assumed coverage on Molson Coors Beverage in a research report on Monday, November 25th. They issued a “neutral” rating and a $64.00 target price on the stock. TD Cowen decreased their price target 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. Finally, Hsbc Global Res lowered shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research note on Friday, November 8th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $61.64.

Molson Coors Beverage Stock Performance

Shares of NYSE:TAP opened at $54.76 on Friday. The company has a market cap of $11.28 billion, a P/E ratio of 12.33, a PEG ratio of 2.09 and a beta of 0.86. Molson Coors Beverage has a one year low of $49.19 and a one year high of $69.18. The business’s 50-day simple moving average is $57.82 and its 200 day simple moving average is $56.23. 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 (NYSE:TAP) last posted its earnings results on Thursday, November 7th. The company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.13. The business had revenue of $3.04 billion for the quarter, compared to analysts’ expectations 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 revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.92 earnings per share. On average, sell-side analysts forecast that Molson Coors Beverage will post 5.79 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Global Retirement Partners LLC boosted its holdings in shares of Molson Coors Beverage by 29.3% during the fourth quarter. Global Retirement Partners LLC now owns 2,713 shares of the company’s stock valued at $156,000 after acquiring an additional 614 shares during the period. Kentucky Retirement Systems Insurance Trust Fund lifted its position in Molson Coors Beverage by 7.6% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 5,599 shares of the company’s stock valued at $314,000 after purchasing an additional 397 shares during the last quarter. Keating Investment Counselors Inc. boosted its stake in Molson Coors Beverage by 1.0% during the 4th quarter. Keating Investment Counselors Inc. now owns 81,772 shares of the company’s stock valued at $4,687,000 after purchasing an additional 790 shares during the period. Venturi Wealth Management LLC grew its position in Molson Coors Beverage by 7.4% in the 4th quarter. Venturi Wealth Management LLC now owns 2,935 shares of the company’s stock worth $168,000 after purchasing an additional 202 shares during the last quarter. Finally, CIBC Asset Management Inc increased its stake in shares of Molson Coors Beverage by 1.5% in the fourth quarter. CIBC Asset Management Inc now owns 31,506 shares of the company’s stock valued at $1,806,000 after purchasing an additional 457 shares during the period. 78.46% of the stock is currently owned by institutional investors.

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.