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

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

TAP has been the topic of several other research reports. Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and boosted their target price for the stock from $52.00 to $74.00 in a report on Friday, November 8th. TD Cowen dropped their price objective on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating on the stock in a research note on Tuesday, October 8th. Barclays raised their target price on Molson Coors Beverage from $49.00 to $51.00 and gave the company an “underweight” rating in a research note on Monday, November 11th. BNP Paribas assumed coverage on shares of Molson Coors Beverage in a research report on Monday, November 25th. They issued a “neutral” rating and a $64.00 price target on the stock. Finally, Needham & Company LLC began coverage on shares of Molson Coors Beverage in a report on Friday, December 6th. They issued a “buy” rating and a $72.00 price target for the company. Two 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $62.00.

Molson Coors Beverage Stock Performance

TAP traded up $0.44 during trading on Wednesday, reaching $57.32. 928,477 shares of the company were exchanged, compared to its average volume of 1,893,787. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. The firm has a 50 day moving average of $59.36 and a 200 day moving average of $55.56. The stock has a market cap of $11.81 billion, a P/E ratio of 12.91, a PEG ratio of 2.38 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.13. The firm had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.13 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. Molson Coors Beverage’s quarterly revenue was down 7.8% compared to the same quarter last year. During the same period last year, the firm posted $1.92 EPS. On average, sell-side analysts forecast that Molson Coors Beverage will post 5.78 EPS for the current fiscal year.

Institutional Trading of Molson Coors Beverage

A number of large investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC lifted its holdings in Molson Coors Beverage by 11.8% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company’s stock worth $99,000 after buying an additional 182 shares in the last quarter. Integrated Investment Consultants LLC raised its position in shares of Molson Coors Beverage by 4.7% during 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 last quarter. Perpetual Ltd lifted its stake in shares of 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 acquiring an additional 197 shares during the period. SkyView Investment Advisors LLC boosted its holdings in Molson Coors Beverage by 1.8% in the second quarter. SkyView Investment Advisors LLC now owns 15,102 shares of the company’s stock valued at $768,000 after acquiring an additional 274 shares during the last quarter. Finally, Private Advisor Group LLC increased its position in Molson Coors Beverage by 0.9% in the third quarter. Private Advisor Group LLC now owns 32,080 shares of the company’s stock worth $1,845,000 after purchasing an additional 277 shares during the period. 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.