Molson Coors Beverage (NYSE:TAP) Given New $38.00 Price Target at Wells Fargo & Company

Key Points

• Wells Fargo cut Molson Coors Beverage’s price target to $38 from $41 while maintaining an “equal weight” rating, implying roughly 3.2% upside from the prior close.
• Analyst sentiment remains mixed but leans toward “Hold”: the stock has four Buy, eleven Hold and four Sell ratings, with a consensus target price of $43.88.
• Molson Coors beat quarterly earnings expectations with $1.58 in EPS versus $1.51 forecast and $3.10 billion in revenue, although revenue fell 3.3% year over year and shares opened at $36.81.

Molson Coors Beverage (NYSE:TAP - Get Free Report) had its price target reduced by analysts at Wells Fargo & Company from $41.00 to $38.00 in a report released on Monday, Benzinga reports. The brokerage presently has an "equal weight" rating on the stock. Wells Fargo & Company's target price would indicate a potential upside of 3.24% from the stock's previous close.

Several other research analysts have also commented on TAP. BNP Paribas Exane reduced their price target on Molson Coors Beverage from $34.00 to $33.00 and set an "underperform" rating on the stock in a report on Friday, September 18th. Needham & Company LLC reissued a "buy" rating and issued a $50.00 target price on shares of Molson Coors Beverage in a research report on Friday, August 7th. Piper Sandler dropped their price objective on Molson Coors Beverage from $45.00 to $44.00 and set a "neutral" rating for the company in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft set a $41.00 target price on Molson Coors Beverage in a research note on Wednesday, July 22nd. Finally, UBS Group lifted their target price on Molson Coors Beverage from $40.00 to $45.00 and gave the company a "neutral" rating in a research report on Friday, August 7th. Four research 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. Based on data from MarketBeat, Molson Coors Beverage has an average rating of "Hold" and a consensus target price of $43.88.

Molson Coors Beverage Stock Down 0.1%

Shares of TAP opened at $36.81 on Monday. The stock has a 50 day moving average price of $40.19 and a 200 day moving average price of $41.02. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.72 and a current ratio of 0.88. The stock has a market capitalization of $6.90 billion, a price-to-earnings ratio of -3.19 and a beta of 0.43. Molson Coors Beverage has a one year low of $35.52 and a one year high of $54.82.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $1.58 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.51 by $0.07. The business had revenue of $3.10 billion during the quarter, compared to analyst estimates of $3.08 billion. Molson Coors Beverage had a negative net margin of 17.83% and a positive return on equity of 9.46%. The company's revenue for the quarter was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.05 earnings per share. Molson Coors Beverage has set its FY 2026 guidance at 4.607-4.823 EPS. Equities research analysts forecast that Molson Coors Beverage will post 4.81 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Molson Coors Beverage

Several hedge funds and other institutional investors have recently made changes to their positions in TAP. Dimensional Fund Advisors LP increased its stake in shares of Molson Coors Beverage by 10.4% during the first quarter. Dimensional Fund Advisors LP now owns 8,363,157 shares of the company's stock worth $360,117,000 after buying an additional 790,314 shares during the period. Bank of New York Mellon Corp increased its position in shares of Molson Coors Beverage by 16.4% in the 1st quarter. Bank of New York Mellon Corp now owns 3,326,427 shares of the company's stock valued at $143,236,000 after purchasing an additional 469,607 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Molson Coors Beverage by 265.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,922,022 shares of the company's stock worth $136,400,000 after purchasing an additional 2,122,085 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in Molson Coors Beverage by 152.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,531,145 shares of the company's stock worth $118,154,000 after purchasing an additional 1,528,004 shares in the last quarter. Finally, Royal London Asset Management Ltd. lifted its holdings in shares of Molson Coors Beverage by 6.9% in the 4th quarter. Royal London Asset Management Ltd. now owns 2,040,545 shares of the company's stock valued at $95,253,000 after purchasing an additional 131,449 shares during the last quarter. Hedge funds and other institutional investors own 78.46% of the company's stock.

About Molson Coors Beverage

Molson Coors Beverage Company is a global brewer that produces, markets and distributes beer and other beverage products. Its portfolio includes well-known brands such as Coors, Miller, Molson, Coors Light, Miller Lite, Blue Moon, Leinenkugel's, Carling, Staropramen and Peroni Nastro Azzurro, along with a range of craft, premium, flavored and non-alcoholic beverages.

The company serves consumers through retail, hospitality and other distribution channels across North America, Europe and selected international markets.

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