Molson Coors Beverage (NYSE:TAP) Given New $40.00 Price Target at Citigroup

Molson Coors Beverage (NYSE:TAP) had its price objective lowered by Citigroup from $42.00 to $40.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Citigroup’s target price indicates a potential upside of 4.03% from the company’s previous close.

A number of other research firms also recently issued reports on TAP. Wells Fargo & Company lowered their price objective on shares of Molson Coors Beverage from $41.00 to $38.00 and set an “equal weight” rating on the stock in a report on Monday, October 5th. TD Cowen reduced their target price on shares of Molson Coors Beverage from $43.00 to $37.00 and set a “hold” rating for the company in a report on Tuesday. Weiss Ratings restated a “sell (d)” rating on shares of Molson Coors Beverage in a report on Monday, September 21st. Piper Sandler decreased their target price on shares of Molson Coors Beverage from $45.00 to $44.00 and set a “neutral” rating for the company in a research report on Friday, August 7th. Finally, BNP Paribas Exane lowered their price target on shares of Molson Coors Beverage from $34.00 to $33.00 and set an “underperform” rating on the stock in a research note on Friday, September 18th. Four investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $43.41.

Molson Coors Beverage Stock Down 0.2%

Molson Coors Beverage stock traded down $0.07 during midday trading on Wednesday, reaching $38.45. The stock had a trading volume of 1,165,622 shares, compared to its average volume of 3,362,526. The firm’s fifty day simple moving average is $39.56 and its 200-day simple moving average is $40.80. Molson Coors Beverage has a 1-year low of $35.52 and a 1-year high of $54.82. The stock has a market capitalization of $8.06 billion, a P/E ratio of -3.33 and a beta of 0.43. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.72 and a current ratio of 0.88.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Thursday, August 6th. The company reported $1.58 EPS for the quarter, beating the consensus estimate of $1.51 by $0.07. Molson Coors Beverage had a positive return on equity of 9.46% and a negative net margin of 17.83%. The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the previous year, the business posted $2.05 EPS. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. Molson Coors Beverage has set its FY 2026 guidance at 4.607-4.823 EPS. As a group, analysts expect that Molson Coors Beverage will post 4.80 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its holdings in shares of 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 worth $360,117,000 after acquiring an additional 790,314 shares during the period. Bank of New York Mellon Corp lifted its holdings in Molson Coors Beverage by 16.4% during the 1st quarter. Bank of New York Mellon Corp now owns 3,326,427 shares of the company’s stock worth $143,236,000 after purchasing an additional 469,607 shares during the last quarter. Fairfax Financial Holdings Ltd. Can lifted its holdings in Molson Coors Beverage by 3.8% during the 4th quarter. Fairfax Financial Holdings Ltd. Can now owns 1,338,500 shares of the company’s stock worth $62,495,000 after purchasing an additional 48,429 shares during the last quarter. Nykredit A S bought a new stake in Molson Coors Beverage in the 2nd quarter valued at $58,423,000. Finally, Bank of America Corp DE boosted its stake in Molson Coors Beverage by 36.5% in the 1st quarter. Bank of America Corp DE now owns 1,187,921 shares of the company’s stock valued at $51,152,000 after purchasing an additional 317,387 shares during the period. Institutional investors and hedge funds own 78.46% of the company’s stock.

Molson Coors Beverage Company Profile

Molson Coors Beverage Company is a global brewer that produces, markets and distributes beer and other beverage products. Its portfolio includes well-known brands such as Coors, Miller, Molson, Coors Light, Miller Lite, Blue Moon, Leinenkugel’s, Carling, Staropramen and Peroni Nastro Azzurro, along with a range of craft, premium, flavored and non-alcoholic beverages.

The company serves consumers through retail, hospitality and other distribution channels across North America, Europe and selected international markets.