Barclays Has Lowered Expectations for Molson Coors Beverage (NYSE:TAP) Stock Price

Molson Coors Beverage (NYSE:TAP - Get Free Report) had its target price cut by Barclays from $57.00 to $53.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an "equal weight" rating on the stock. Barclays's price objective would indicate a potential upside of 7.48% from the company's current price.

A number of other brokerages have also issued reports on TAP. UBS Group decreased their price objective on Molson Coors Beverage from $63.00 to $59.00 and set a "neutral" rating for the company in a report on Friday, May 9th. Morgan Stanley dropped their price target on shares of Molson Coors Beverage from $63.00 to $58.00 and set an "equal weight" rating on the stock in a research report on Friday, May 9th. Berenberg Bank assumed coverage on shares of Molson Coors Beverage in a research report on Wednesday, April 2nd. They set a "buy" rating and a $86.90 price target on the stock. Wall Street Zen downgraded shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a research report on Saturday, May 17th. Finally, Sanford C. Bernstein dropped their price target on shares of Molson Coors Beverage from $65.00 to $55.00 and set a "market perform" rating on the stock in a research report on Wednesday, July 9th. Thirteen equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Molson Coors Beverage currently has an average rating of "Hold" and an average target price of $59.49.

Molson Coors Beverage Stock Performance

Shares of Molson Coors Beverage stock traded up $0.26 during trading hours on Tuesday, reaching $49.31. The company's stock had a trading volume of 184,123 shares, compared to its average volume of 2,143,990. The company's 50 day simple moving average is $51.70 and its 200 day simple moving average is $55.81. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.59 and a current ratio of 0.89. Molson Coors Beverage has a one year low of $46.94 and a one year high of $64.66. The stock has a market cap of $9.97 billion, a P/E ratio of 9.92, a price-to-earnings-growth ratio of 2.74 and a beta of 0.69.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.80 by ($0.30). Molson Coors Beverage had a return on equity of 8.59% and a net margin of 7.74%. The business had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.43 billion. During the same quarter in the previous year, the business posted $0.95 earnings per share. The company's quarterly revenue was down 11.3% compared to the same quarter last year. As a group, analysts expect that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Insider Activity at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,333 shares of Molson Coors Beverage stock in a transaction that occurred on Wednesday, May 21st. The shares were sold at an average price of $56.29, for a total value of $75,034.57. Following the transaction, the director directly owned 27,595 shares of the company's stock, valued at $1,553,322.55. This trade represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 2.71% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. LSV Asset Management grew its position in Molson Coors Beverage by 1.4% during the first quarter. LSV Asset Management now owns 6,369,498 shares of the company's stock valued at $387,711,000 after purchasing an additional 86,601 shares in the last quarter. Clarkston Capital Partners LLC increased its stake in shares of Molson Coors Beverage by 0.7% in the first quarter. Clarkston Capital Partners LLC now owns 4,553,212 shares of the company's stock worth $277,154,000 after acquiring an additional 33,535 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Molson Coors Beverage by 20.0% in the first quarter. Dimensional Fund Advisors LP now owns 4,503,879 shares of the company's stock worth $274,144,000 after acquiring an additional 750,388 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Molson Coors Beverage by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 4,291,048 shares of the company's stock worth $245,308,000 after acquiring an additional 54,867 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Molson Coors Beverage by 16.8% in the first quarter. Bank of New York Mellon Corp now owns 4,130,807 shares of the company's stock worth $251,442,000 after acquiring an additional 595,203 shares during the last quarter. 78.46% of the stock is owned by hedge funds and other 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.