Molson Coors Beverage (NYSE:TAP) Stock Price Target Lowered at Citigroup

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

Other equities research analysts have also recently issued reports about the company. BNP Paribas Exane cut their price target on Molson Coors Beverage from $34.00 to $33.00 and set an “underperform” rating for the company in a research note on Friday, September 18th. JPMorgan Chase & Co. increased their price target on Molson Coors Beverage from $41.00 to $42.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Weiss Ratings restated a “sell (d)” rating on shares of Molson Coors Beverage in a research note on Monday, September 21st. Piper Sandler lowered their price objective on Molson Coors Beverage from $45.00 to $44.00 and set a “neutral” rating on the stock in a research note on Friday, August 7th. Finally, TD Cowen dropped their price objective on Molson Coors Beverage from $43.00 to $37.00 and set a “hold” rating for the company in a report on Tuesday. Four equities research 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 data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $43.41.

Molson Coors Beverage Stock Performance

Molson Coors Beverage stock traded down $0.07 during midday trading on Wednesday, hitting $38.45. The company’s stock had a trading volume of 1,165,622 shares, compared to its average volume of 3,362,526. Molson Coors Beverage has a 1-year low of $35.52 and a 1-year high of $54.82. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.88 and a quick ratio of 0.72. The company has a 50-day moving average price of $39.56 and a two-hundred day moving average price of $40.80. The company has a market cap of $8.06 billion, a price-to-earnings ratio of -3.33 and a beta of 0.43.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.51 by $0.07. Molson Coors Beverage had a negative net margin of 17.83% and a positive return on equity of 9.46%. The firm had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the previous year, the firm posted $2.05 EPS. The business’s revenue for the quarter 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, sell-side analysts predict that Molson Coors Beverage will post 4.80 earnings per share for the current year.

Institutional Investors Weigh In On Molson Coors Beverage

A number of large investors have recently modified their holdings of TAP. Dimensional Fund Advisors LP increased its stake in shares of Molson Coors Beverage by 10.4% in the 1st 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 during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of 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 buying an additional 469,607 shares in the last quarter. Fairfax Financial Holdings Ltd. Can lifted its position in shares of 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 buying an additional 48,429 shares during the last quarter. Nykredit A S bought a new stake in shares of Molson Coors Beverage during the 2nd quarter worth $58,423,000. Finally, Bank of America Corp DE lifted its position in shares of Molson Coors Beverage by 36.5% during the 1st quarter. Bank of America Corp DE now owns 1,187,921 shares of the company’s stock worth $51,152,000 after buying an additional 317,387 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

About Molson Coors Beverage

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.