Molson Coors Beverage (NYSE:TAP) Given New $57.00 Price Target at The Goldman Sachs Group

Molson Coors Beverage (NYSE:TAP) had its price target lowered by The Goldman Sachs Group from $67.00 to $57.00 in a report issued on Thursday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other research analysts have also commented on the stock. Morgan Stanley dropped their price target on shares of Molson Coors Beverage from $58.00 to $53.00 and set an “equal weight” rating on the stock in a research note on Wednesday, August 6th. Needham & Company LLC lowered their target price on shares of Molson Coors Beverage from $65.00 to $58.00 and set a “buy” rating on the stock in a research note on Wednesday, August 6th. Citigroup lowered their target price on shares of Molson Coors Beverage from $56.00 to $51.00 and set a “neutral” rating on the stock in a research note on Tuesday, July 15th. Evercore ISI lowered their target price on shares of Molson Coors Beverage from $58.00 to $53.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 6th. Finally, Wells Fargo & Company lowered their target price on shares of Molson Coors Beverage from $58.00 to $55.00 and set an “overweight” rating on the stock in a research note on Thursday, September 25th. Six analysts have rated the stock with a Buy rating, eleven have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Molson Coors Beverage currently has an average rating of “Hold” and an average price target of $56.88.

Molson Coors Beverage Stock Performance

Shares of TAP opened at $46.40 on Thursday. The company’s fifty day moving average is $48.98 and its 200-day moving average is $52.58. Molson Coors Beverage has a 12 month low of $43.80 and a 12 month high of $64.66. The firm has a market cap of $9.17 billion, a price-to-earnings ratio of 9.15, a price-to-earnings-growth ratio of 1.69 and a beta of 0.63. The company has a quick ratio of 0.67, a current ratio of 0.95 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.83 by $0.22. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. The company had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the prior year, the business posted $1.92 EPS. Molson Coors Beverage’s quarterly revenue was down 1.6% on a year-over-year basis. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. Equities analysts expect that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 19th. Shareholders of record on Friday, September 5th were issued a $0.47 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.88 dividend on an annualized basis and a yield of 4.1%. Molson Coors Beverage’s dividend payout ratio is 37.08%.

Institutional Trading of Molson Coors Beverage

A number of hedge funds have recently bought and sold shares of TAP. GAMMA Investing LLC boosted its holdings in Molson Coors Beverage by 6,851.8% in the 1st quarter. GAMMA Investing LLC now owns 326,385 shares of the company’s stock valued at $19,867,000 after purchasing an additional 321,690 shares during the period. Fifth Third Wealth Advisors LLC bought a new stake in shares of Molson Coors Beverage during the first quarter valued at approximately $245,000. Rhumbline Advisers increased its position in shares of Molson Coors Beverage by 12.3% during the first quarter. Rhumbline Advisers now owns 364,283 shares of the company’s stock valued at $22,174,000 after purchasing an additional 39,977 shares during the period. Czech National Bank increased its position in shares of Molson Coors Beverage by 4.4% during the first quarter. Czech National Bank now owns 39,545 shares of the company’s stock valued at $2,407,000 after purchasing an additional 1,672 shares during the period. Finally, NBC Securities Inc. increased its position in shares of Molson Coors Beverage by 120,600.0% during the first quarter. NBC Securities Inc. now owns 7,242 shares of the company’s stock valued at $440,000 after purchasing an additional 7,236 shares during the period. 78.46% of the stock is owned by institutional investors.

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.