Molson Coors Beverage (NYSE:TAP) Price Target Lowered to $43.00 at Wells Fargo & Company

Molson Coors Beverage (NYSE:TAP) had its price target decreased by stock analysts at Wells Fargo & Company from $45.00 to $43.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 3.67% from the company’s current price.

Several other research analysts have also weighed in on the stock. The Goldman Sachs Group increased their target price on shares of Molson Coors Beverage from $48.00 to $50.00 in a research note on Friday, May 1st. Morgan Stanley decreased their price target on Molson Coors Beverage from $52.00 to $46.00 and set an “equal weight” rating on the stock in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $42.00 price objective on shares of Molson Coors Beverage in a research note on Friday, May 1st. Jefferies Financial Group dropped their target price on Molson Coors Beverage from $45.00 to $43.00 and set a “hold” rating for the company in a research report on Monday, April 20th. Finally, Bank of America cut shares of Molson Coors Beverage from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $50.00 to $42.00 in a research report on Wednesday, February 25th. Four analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and four have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $45.59.

Molson Coors Beverage Trading Up 1.6%

Shares of Molson Coors Beverage stock traded up $0.64 during mid-day trading on Monday, hitting $41.48. The stock had a trading volume of 204,514 shares, compared to its average volume of 3,106,703. The firm has a 50-day moving average of $43.23 and a two-hundred day moving average of $46.14. The firm has a market cap of $7.78 billion, a P/E ratio of -3.90 and a beta of 0.44. The company has a quick ratio of 0.38, a current ratio of 0.54 and a debt-to-equity ratio of 0.38. Molson Coors Beverage has a 12-month low of $40.64 and a 12-month high of $57.57.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Friday, May 1st. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.26. Molson Coors Beverage had a positive return on equity of 9.79% and a negative net margin of 16.14%.The company had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.33 billion. During the same period in the prior year, the business posted $0.50 earnings per share. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. Sell-side analysts forecast that Molson Coors Beverage will post 4.74 earnings per share for the current year.

Insiders Place Their Bets

In other Molson Coors Beverage news, Director Andrew Thomas Molson acquired 2,000 shares of the company’s stock in a transaction on Monday, March 9th. The stock was acquired at an average price of $46.67 per share, for a total transaction of $93,340.00. Following the purchase, the director directly owned 24,654 shares of the company’s stock, valued at $1,150,602.18. This trade represents a 8.83% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.27% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in TAP. Dodge & Cox boosted its stake in shares of Molson Coors Beverage by 29.4% in the third quarter. Dodge & Cox now owns 18,631,224 shares of the company’s stock valued at $843,063,000 after buying an additional 4,235,029 shares during the period. Norges Bank acquired a new position in Molson Coors Beverage in the 4th quarter valued at $125,755,000. Goldman Sachs Group Inc. lifted its position in shares of Molson Coors Beverage by 265.3% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,922,022 shares of the company’s stock valued at $136,400,000 after acquiring an additional 2,122,085 shares during the period. State Street Corp grew its holdings in shares of Molson Coors Beverage by 19.2% during the 3rd quarter. State Street Corp now owns 10,516,810 shares of the company’s stock worth $475,886,000 after purchasing an additional 1,693,682 shares in the last quarter. Finally, Royal London Asset Management Ltd. grew its holdings in shares of Molson Coors Beverage by 317.9% during the 2nd quarter. Royal London Asset Management Ltd. now owns 2,044,028 shares of the company’s stock worth $98,297,000 after purchasing an additional 1,554,851 shares in the last quarter. 78.46% of the stock is owned by institutional investors.

About Molson Coors Beverage

Molson Coors Beverage Company is a leading multinational brewing and beverage enterprise formed through the 2005 merger of Canada’s Molson and the United States’ Coors. The company develops, markets and distributes an array of alcoholic and non-alcoholic beverages, focusing primarily on beer and ready-to-drink products. Its portfolio spans flagship brands such as Coors Light, Molson Canadian and Miller Lite, alongside craft-style offerings like Blue Moon and global imports including Carling and Staropramen.

In addition to its core beer business, Molson Coors has expanded into adjacent categories to capture evolving consumer tastes.