Analysts Set Molson Coors Beverage Company (NYSE:TAP) Price Target at $56.24

Molson Coors Beverage Company (NYSE:TAP) has been given a consensus recommendation of “Hold” by the seventeen analysts that are currently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell recommendation, nine have given a hold recommendation and six have given a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $54.5563.

A number of equities analysts recently weighed in on the stock. Roth Capital reaffirmed a “buy” rating and issued a $65.00 target price (down from $67.00) on shares of Molson Coors Beverage in a research note on Wednesday, November 5th. Weiss Ratings downgraded shares of Molson Coors Beverage from a “hold (c-)” rating to a “sell (d)” rating in a research report on Wednesday, November 5th. Piper Sandler cut their price target on shares of Molson Coors Beverage from $53.00 to $52.00 and set a “neutral” rating for the company in a report on Tuesday, September 30th. The Goldman Sachs Group dropped their price objective on shares of Molson Coors Beverage from $67.00 to $57.00 and set a “buy” rating for the company in a report on Thursday, October 2nd. Finally, Morgan Stanley lowered their price target on shares of Molson Coors Beverage from $58.00 to $53.00 and set an “equal weight” rating for the company in a report on Wednesday, August 6th.

Insider Buying and Selling

In other news, Director David S. Coors acquired 2,245 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The stock was bought at an average price of $44.47 per share, with a total value of $99,835.15. Following the acquisition, the director owned 30,586 shares in the company, valued at $1,360,159.42. The trade was a 7.92% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.71% of the company’s stock.

Institutional Trading of Molson Coors Beverage

A number of hedge funds have recently made changes to their positions in the stock. Twin Capital Management Inc. lifted its stake in Molson Coors Beverage by 0.7% in the first quarter. Twin Capital Management Inc. now owns 24,791 shares of the company’s stock worth $1,509,000 after purchasing an additional 180 shares during the last quarter. Geneos Wealth Management Inc. lifted its stake in Molson Coors Beverage by 32.9% during the 1st quarter. Geneos Wealth Management Inc. now owns 800 shares of the company’s stock valued at $49,000 after acquiring an additional 198 shares during the period. Signet Financial Management LLC grew its position in Molson Coors Beverage by 3.7% during the second quarter. Signet Financial Management LLC now owns 5,757 shares of the company’s stock valued at $277,000 after buying an additional 208 shares during the period. Callan Family Office LLC increased its stake in shares of Molson Coors Beverage by 5.0% in the first quarter. Callan Family Office LLC now owns 4,426 shares of the company’s stock worth $269,000 after purchasing an additional 209 shares in the last quarter. Finally, Smartleaf Asset Management LLC grew its stake 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 acquiring an additional 221 shares in the last quarter. 78.46% of the stock is owned by institutional investors.

Molson Coors Beverage Stock Performance

Shares of NYSE TAP opened at $47.16 on Wednesday. The company has a quick ratio of 0.67, a current ratio of 0.95 and a debt-to-equity ratio of 0.46. The company has a market cap of $9.32 billion, a P/E ratio of 9.30, a P/E/G ratio of 1.60 and a beta of 0.65. The business’s 50 day moving average is $46.34 and its two-hundred day moving average is $49.80. 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 posted its earnings results on Tuesday, November 4th. The company reported $1.67 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.05). The firm 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. On average, equities analysts expect that Molson Coors Beverage will post 6.35 EPS for the current year.

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.