Molson Coors Beverage (NYSE:TAP) Price Target Lowered to $64.00 at UBS Group

Molson Coors Beverage (NYSE:TAP) had its target price lowered by UBS Group from $70.00 to $64.00 in a report released on Wednesday, Benzinga reports. The firm currently has a neutral rating on the stock.

Several other research analysts have also recently issued reports on TAP. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Molson Coors Beverage from $64.00 to $65.00 and gave the company a hold rating in a report on Wednesday, April 17th. The Goldman Sachs Group upgraded shares of Molson Coors Beverage from a neutral rating to a buy rating and increased their price objective for the company from $66.00 to $75.00 in a report on Tuesday, April 9th. Bank of America decreased their price objective on shares of Molson Coors Beverage from $72.00 to $62.00 and set a neutral rating for the company in a report on Wednesday. StockNews.com upgraded shares of Molson Coors Beverage from a hold rating to a buy rating in a report on Friday, April 12th. Finally, Citigroup cut shares of Molson Coors Beverage from a neutral rating to a sell rating and decreased their price objective for the company from $66.00 to $56.00 in a report on Wednesday, April 24th. Two analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, Molson Coors Beverage presently has a consensus rating of Hold and a consensus price target of $65.53.

Molson Coors Beverage Price Performance

TAP opened at $57.85 on Wednesday. Molson Coors Beverage has a fifty-two week low of $55.67 and a fifty-two week high of $70.90. The company has a quick ratio of 0.50, a current ratio of 0.69 and a debt-to-equity ratio of 0.40. The firm has a market cap of $12.30 billion, a price-to-earnings ratio of 11.57, a price-to-earnings-growth ratio of 2.00 and a beta of 0.86. The company’s 50-day moving average price is $64.77 and its 200 day moving average price is $62.34.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Tuesday, April 30th. The company reported $0.95 EPS for the quarter, topping the consensus estimate of $0.74 by $0.21. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. The firm had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.50 billion. During the same quarter in the prior year, the firm earned $0.54 EPS. Molson Coors Beverage’s quarterly revenue was up 10.7% on a year-over-year basis. As a group, sell-side analysts expect that Molson Coors Beverage will post 5.68 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were given a $0.44 dividend. This represents a $1.76 annualized dividend and a dividend yield of 3.04%. The ex-dividend date was Thursday, February 29th. This is an increase from Molson Coors Beverage’s previous quarterly dividend of $0.41. Molson Coors Beverage’s dividend payout ratio is 35.20%.

Insider Activity at Molson Coors Beverage

In other Molson Coors Beverage news, CFO Tracey Joubert sold 2,771 shares of Molson Coors Beverage stock in a transaction on Monday, February 12th. The shares were sold at an average price of $60.37, for a total transaction of $167,285.27. Following the completion of the sale, the chief financial officer now owns 60,538 shares of the company’s stock, valued at approximately $3,654,679.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 2.71% of the stock is owned by insiders.

Institutional Trading of Molson Coors Beverage

A number of institutional investors have recently bought and sold shares of the company. Kestra Private Wealth Services LLC grew its stake in Molson Coors Beverage by 19.5% in the third quarter. Kestra Private Wealth Services LLC now owns 11,415 shares of the company’s stock valued at $726,000 after purchasing an additional 1,859 shares in the last quarter. International Assets Investment Management LLC grew its stake in Molson Coors Beverage by 6,418.1% in the fourth quarter. International Assets Investment Management LLC now owns 151,416 shares of the company’s stock valued at $9,268,000 after purchasing an additional 149,093 shares in the last quarter. SkyView Investment Advisors LLC grew its stake in Molson Coors Beverage by 3.4% in the third quarter. SkyView Investment Advisors LLC now owns 12,343 shares of the company’s stock valued at $785,000 after purchasing an additional 408 shares in the last quarter. Metis Global Partners LLC boosted its stake in shares of Molson Coors Beverage by 24.2% during the 3rd quarter. Metis Global Partners LLC now owns 11,201 shares of the company’s stock worth $712,000 after acquiring an additional 2,183 shares in the last quarter. Finally, Beck Bode LLC bought a new position in shares of Molson Coors Beverage in the 4th quarter valued at approximately $1,785,000. Institutional investors and hedge funds own 78.46% of the company’s stock.

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.