Jefferies Financial Group Cuts Molson Coors Beverage (NYSE:TAP) Price Target to $50.00

Key Points

• Jefferies Financial Group has lowered its price target for Molson Coors Beverage from $52.00 to $50.00, with a "hold" rating currently in place for the stock.
• The company reported an earnings per share (EPS) of $2.05 for the last quarter, exceeding analyst estimates of $1.83.
• Institutional investors hold approximately 78.46% of Molson Coors Beverage's stock, showcasing significant interest among larger investment firms.

Molson Coors Beverage (NYSE:TAP - Get Free Report) had its price target cut by research analysts at Jefferies Financial Group from $52.00 to $50.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has a "hold" rating on the stock. Jefferies Financial Group's price target points to a potential upside of 9.12% from the stock's previous close.

A number of other equities analysts have also weighed in on the company. Evercore ISI decreased their price target on Molson Coors Beverage from $58.00 to $53.00 and set an "outperform" rating for the company in a research report on Wednesday, August 6th. Needham & Company LLC decreased their price target on Molson Coors Beverage from $65.00 to $58.00 and set a "buy" rating for the company in a research report on Wednesday, August 6th. Barclays reiterated an "underweight" rating and issued a $50.00 price target (up previously from $49.00) on shares of Molson Coors Beverage in a research report on Friday, September 12th. Sanford C. Bernstein decreased their price target on Molson Coors Beverage from $65.00 to $55.00 and set a "market perform" rating for the company in a research report on Wednesday, July 9th. Finally, Wells Fargo & Company lowered their target price on 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 research analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Molson Coors Beverage presently has a consensus rating of "Hold" and a consensus price target of $57.46.

Molson Coors Beverage Price Performance

NYSE:TAP opened at $45.82 on Tuesday. The business's 50-day moving average price is $49.41 and its 200 day moving average price is $52.90. The firm has a market cap of $9.06 billion, a P/E ratio of 9.04, a PEG ratio of 1.63 and a beta of 0.69. Molson Coors Beverage has a 52-week low of $43.80 and a 52-week high of $64.66. 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 - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.83 by $0.22. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%.The firm had revenue of $3.20 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same period in the previous year, the company earned $1.92 earnings per share. Molson Coors Beverage's revenue was down 1.6% compared to the same quarter last year. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. As a group, sell-side analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Molson Coors Beverage

Several institutional investors have recently made changes to their positions in TAP. Vanguard Group Inc. lifted its holdings in Molson Coors Beverage by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 21,208,854 shares of the company's stock worth $1,019,934,000 after purchasing an additional 92,058 shares during the last quarter. Dodge & Cox lifted its holdings in Molson Coors Beverage by 2.3% in the 2nd quarter. Dodge & Cox now owns 14,396,195 shares of the company's stock worth $692,313,000 after purchasing an additional 327,885 shares during the last quarter. LSV Asset Management lifted its holdings in Molson Coors Beverage by 1.4% in the 1st quarter. LSV Asset Management now owns 6,369,498 shares of the company's stock worth $387,711,000 after purchasing an additional 86,601 shares during the last quarter. Clarkston Capital Partners LLC lifted its holdings in Molson Coors Beverage by 0.7% in the 1st quarter. Clarkston Capital Partners LLC now owns 4,553,212 shares of the company's stock worth $277,154,000 after purchasing an additional 33,535 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its holdings in Molson Coors Beverage by 20.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,503,879 shares of the company's stock worth $274,144,000 after purchasing an additional 750,388 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Company Profile

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.

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