Molson Coors Beverage (NYSE:TAP) Reaches New 52-Week Low – Should You Sell?

Molson Coors Beverage Company (NYSE:TAP) shares hit a new 52-week low during trading on Wednesday . The company traded as low as $42.94 and last traded at $43.61, with a volume of 5524374 shares. The stock had previously closed at $43.22.

Analyst Ratings Changes

A number of research firms have recently issued reports on TAP. Morgan Stanley cut their target price on shares of Molson Coors Beverage from $58.00 to $53.00 and set an “equal weight” rating for the company in a research note on Wednesday, August 6th. UBS Group dropped their price target on Molson Coors Beverage from $52.00 to $49.00 and set a “neutral” rating for the company in a report on Wednesday, October 8th. Sanford C. Bernstein dropped their price target on Molson Coors Beverage from $65.00 to $55.00 and set a “market perform” rating for the company in a report on Wednesday, July 9th. Citigroup dropped their price target on Molson Coors Beverage from $51.00 to $49.00 and set a “neutral” rating for the company in a report on Thursday, October 9th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Molson Coors Beverage in a report on Tuesday, October 14th. Six equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $56.24.

Molson Coors Beverage Stock Up 0.9%

The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.95. The firm’s 50-day moving average is $46.80 and its two-hundred day moving average is $50.23. The stock 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 0.63.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.83 by $0.22. The firm had revenue of $3.20 billion during the quarter, compared to analysts’ expectations of $3.12 billion. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. Molson Coors Beverage’s revenue was down 1.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.92 EPS. On average, equities research analysts anticipate that Molson Coors Beverage Company will post 6.35 earnings per share for the current year.

Institutional Investors Weigh In On Molson Coors Beverage

A number of institutional investors have recently made changes to their positions in the stock. Principal Financial Group Inc. grew its stake in shares of Molson Coors Beverage by 14.7% during the first quarter. Principal Financial Group Inc. now owns 238,178 shares of the company’s stock worth $14,498,000 after buying an additional 30,463 shares during the last quarter. Nuveen LLC acquired a new position in shares of Molson Coors Beverage during the first quarter worth $22,253,000. Jump Financial LLC increased its holdings in shares of Molson Coors Beverage by 205.4% during the first quarter. Jump Financial LLC now owns 24,307 shares of the company’s stock worth $1,480,000 after buying an additional 16,349 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of Molson Coors Beverage by 32.8% during the first quarter. Hsbc Holdings PLC now owns 466,666 shares of the company’s stock worth $28,424,000 after buying an additional 115,186 shares in the last quarter. Finally, AlphaStar Capital Management LLC increased its holdings in shares of Molson Coors Beverage by 27.8% during the first quarter. AlphaStar Capital Management LLC now owns 26,162 shares of the company’s stock worth $1,592,000 after buying an additional 5,685 shares in the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

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.