Molson Coors Beverage (NYSE:TAP) Price Target Cut to $58.00 by Analysts at UBS Group

Molson Coors Beverage (NYSE:TAP) had its price objective trimmed by UBS Group from $60.00 to $58.00 in a research note issued to investors on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

Several other research analysts have also recently issued reports on the stock. BNP Paribas initiated coverage on shares of Molson Coors Beverage in a report on Monday, November 25th. They set a “neutral” rating and a $64.00 target price on the stock. Barclays increased their price objective on shares of Molson Coors Beverage from $49.00 to $51.00 and gave the company an “underweight” rating in a research note on Monday, November 11th. JPMorgan Chase & Co. boosted their price objective on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Needham & Company LLC assumed coverage on Molson Coors Beverage in a research report on Friday, December 6th. They set a “buy” rating and a $72.00 target price on the stock. Finally, Hsbc Global Res lowered Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Molson Coors Beverage presently has a consensus rating of “Hold” and a consensus price target of $62.00.

Molson Coors Beverage Stock Performance

Molson Coors Beverage stock opened at $54.95 on Thursday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99. The company has a market capitalization of $11.32 billion, a PE ratio of 12.38, a P/E/G ratio of 1.96 and a beta of 0.86. The company has a 50 day moving average price of $59.18 and a 200-day moving average price of $55.85. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.13. The business had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The business’s revenue for the quarter was down 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.92 EPS. As a group, equities analysts forecast that Molson Coors Beverage will post 5.79 earnings per share for the current year.

Molson Coors Beverage Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 20th. Stockholders of record on Friday, December 6th were issued a dividend of $0.44 per share. The ex-dividend date was Friday, December 6th. This represents a $1.76 annualized dividend and a dividend yield of 3.20%. Molson Coors Beverage’s dividend payout ratio (DPR) is currently 39.64%.

Institutional Trading of Molson Coors Beverage

Several large investors have recently bought and sold shares of the stock. State Street Corp raised its holdings in shares of Molson Coors Beverage by 8.4% in the third quarter. State Street Corp now owns 8,792,196 shares of the company’s stock worth $505,727,000 after buying an additional 681,757 shares during the last quarter. Pacer Advisors Inc. increased its position in shares of Molson Coors Beverage by 66.5% in the 2nd quarter. Pacer Advisors Inc. now owns 5,397,223 shares of the company’s stock valued at $274,341,000 after acquiring an additional 2,155,842 shares during the period. Dimensional Fund Advisors LP raised its stake in Molson Coors Beverage by 20.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,579,811 shares of the company’s stock worth $131,130,000 after acquiring an additional 434,685 shares during the last quarter. River Road Asset Management LLC lifted its position in Molson Coors Beverage by 1.8% during the 3rd quarter. River Road Asset Management LLC now owns 1,677,241 shares of the company’s stock worth $96,475,000 after acquiring an additional 29,315 shares during the period. Finally, Thompson Siegel & Walmsley LLC purchased a new stake in Molson Coors Beverage during the 3rd quarter valued at about $48,202,000. Hedge funds and other institutional investors own 78.46% of the company’s stock.

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.