Molson Coors Beverage (NYSE:TAP) Price Target Lowered to $41.00 at Jefferies Financial Group

Molson Coors Beverage (NYSE:TAP) had its price target reduced by analysts at Jefferies Financial Group from $43.00 to $41.00 in a report released on Friday,MarketScreener reports. Jefferies Financial Group’s price objective would indicate a potential upside of 0.58% from the company’s previous close.

A number of other research analysts have also weighed in on the stock. UBS Group reduced their price objective on shares of Molson Coors Beverage from $50.00 to $45.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. The Goldman Sachs Group boosted their price objective on Molson Coors Beverage from $48.00 to $50.00 in a report on Friday, May 1st. Wall Street Zen cut Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Sunday, May 17th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Molson Coors Beverage in a research note on Friday, March 27th. Finally, Evercore cut their price objective on Molson Coors Beverage from $50.00 to $47.00 and set an “outperform” rating for the company in a report on Tuesday, April 21st. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and four have given a Sell rating to the stock. According to MarketBeat, Molson Coors Beverage currently has an average rating of “Hold” and an average price target of $44.88.

Molson Coors Beverage Stock Down 0.4%

NYSE TAP traded down $0.17 on Friday, reaching $40.76. The company had a trading volume of 489,335 shares, compared to its average volume of 3,126,331. The company has a quick ratio of 0.38, a current ratio of 0.54 and a debt-to-equity ratio of 0.38. The company’s fifty day moving average is $42.22 and its 200 day moving average is $45.52. Molson Coors Beverage has a 52-week low of $38.04 and a 52-week high of $54.82. The stock has a market capitalization of $7.65 billion, a P/E ratio of -3.83 and a beta of 0.41.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Friday, May 1st. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.26. Molson Coors Beverage had a negative net margin of 16.14% and a positive return on equity of 9.79%. The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same quarter in the prior year, the business posted $0.50 EPS. The business’s revenue was up 2.0% compared to the same quarter last year. Sell-side analysts anticipate that Molson Coors Beverage will post 4.74 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Molson Coors Beverage news, Director Geoffrey E. Molson sold 1,245 shares of the business’s stock in a transaction dated Thursday, May 21st. The stock was sold at an average price of $42.50, for a total value of $52,912.50. Following the completion of the transaction, the director owned 9,871 shares of the company’s stock, valued at approximately $419,517.50. The trade was a 11.20% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.27% of the company’s stock.

Institutional Trading of Molson Coors Beverage

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Dodge & Cox raised its position in Molson Coors Beverage by 29.4% in the third quarter. Dodge & Cox now owns 18,631,224 shares of the company’s stock worth $843,063,000 after acquiring an additional 4,235,029 shares during the period. State Street Corp grew its position in shares of Molson Coors Beverage by 19.2% during the 3rd quarter. State Street Corp now owns 10,516,810 shares of the company’s stock valued at $475,886,000 after acquiring an additional 1,693,682 shares during the period. Dimensional Fund Advisors LP lifted its position in Molson Coors Beverage by 10.4% during the first quarter. Dimensional Fund Advisors LP now owns 8,363,157 shares of the company’s stock valued at $360,117,000 after purchasing an additional 790,314 shares in the last quarter. Invesco Ltd. grew its holdings in Molson Coors Beverage by 1.2% during the fourth quarter. Invesco Ltd. now owns 4,485,000 shares of the company’s stock valued at $209,360,000 after purchasing an additional 54,456 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings in Molson Coors Beverage by 16.4% during the first quarter. Bank of New York Mellon Corp now owns 3,326,427 shares of the company’s stock valued at $143,236,000 after purchasing an additional 469,607 shares during the period. 78.46% of the stock is owned by hedge funds and other institutional investors.

About Molson Coors Beverage

Molson Coors Beverage Company is a leading multinational brewing and beverage enterprise formed through the 2005 merger of Canada’s Molson and the United States’ Coors. The company develops, markets and distributes an array of alcoholic and non-alcoholic beverages, focusing primarily on beer and ready-to-drink products. Its portfolio spans flagship brands such as Coors Light, Molson Canadian and Miller Lite, alongside craft-style offerings like Blue Moon and global imports including Carling and Staropramen.

In addition to its core beer business, Molson Coors has expanded into adjacent categories to capture evolving consumer tastes.