Wells Fargo & Company Cuts Molson Coors Beverage (NYSE:TAP) Price Target to $53.00

Molson Coors Beverage (NYSE:TAP) had its price target lowered by equities research analysts at Wells Fargo & Company from $55.00 to $53.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 21.53% from the stock’s current price.

Several other equities analysts have also recently weighed in on TAP. Needham & Company LLC dropped their price target on shares of Molson Coors Beverage from $58.00 to $54.00 and set a “buy” rating on the stock in a research report on Monday. Jefferies Financial Group set a $48.00 price objective on Molson Coors Beverage and gave the stock a “hold” rating in a report on Tuesday. Barclays restated an “underweight” rating and issued a $50.00 target price (up previously from $49.00) on shares of Molson Coors Beverage in a report on Friday, September 12th. Evercore ISI cut their target price on Molson Coors Beverage from $58.00 to $53.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 6th. Finally, Sanford C. Bernstein lowered their price target on Molson Coors Beverage from $65.00 to $55.00 and set a “market perform” rating for the company in a research report on Wednesday, July 9th. Six investment analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Molson Coors Beverage currently has an average rating of “Hold” and an average price target of $56.12.

Molson Coors Beverage Stock Performance

NYSE TAP opened at $43.61 on Wednesday. The company has a market cap of $8.62 billion, a P/E ratio of 8.60, a PEG ratio of 1.60 and a beta of 0.65. The company has a fifty day simple moving average of $46.80 and a 200 day simple moving average of $50.23. The company has a current ratio of 0.95, a quick ratio of 0.67 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a 12-month low of $42.94 and a 12-month high of $64.66.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Tuesday, November 4th. The company reported $1.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.05). The business had revenue of $2.97 billion during the quarter, compared to the consensus estimate of $3.02 billion. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. Sell-side analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Institutional Trading of Molson Coors Beverage

A number of hedge funds have recently bought and sold shares of the business. Twin Capital Management Inc. grew its stake in Molson Coors Beverage by 0.7% in the 1st quarter. Twin Capital Management Inc. now owns 24,791 shares of the company’s stock valued at $1,509,000 after purchasing an additional 180 shares during the period. Geneos Wealth Management Inc. raised its stake in shares of Molson Coors Beverage by 32.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock worth $49,000 after purchasing an additional 198 shares during the period. Signet Financial Management LLC boosted its holdings in shares of Molson Coors Beverage by 3.7% in the 2nd quarter. Signet Financial Management LLC now owns 5,757 shares of the company’s stock worth $277,000 after buying an additional 208 shares during the last quarter. Callan Family Office LLC boosted its holdings in shares of Molson Coors Beverage by 5.0% in the 1st quarter. Callan Family Office LLC now owns 4,426 shares of the company’s stock worth $269,000 after buying an additional 209 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its position in Molson Coors Beverage by 64.2% during the second quarter. Smartleaf Asset Management LLC now owns 565 shares of the company’s stock valued at $27,000 after buying an additional 221 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.