Molson Coors Beverage (NYSE:TAP) Reaches New 52-Week Low - What's Next?

Key Points

• Molson Coors Beverage (NYSE:TAP) hit a new 52-week low at $46.77, with trading volume of nearly 1.9 million shares.
• Multiple analysts have adjusted their ratings and price targets downward, with Bank of America changing its rating from "buy" to "neutral" and lowering the target price from $65 to $50.
• The company recently announced a quarterly dividend of $0.47 per share, reflecting a 4.0% yield, with a payout ratio of 37.08%.

Molson Coors Beverage Company (NYSE:TAP - Get Free Report)'s stock price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $46.77 and last traded at $46.86, with a volume of 1909879 shares changing hands. The stock had previously closed at $47.43.

Wall Street Analysts Forecast Growth

TAP has been the topic of a number of research analyst reports. Morgan Stanley reduced their price target on Molson Coors Beverage from $58.00 to $53.00 and set an "equal weight" rating on the stock in a report on Wednesday, August 6th. The Goldman Sachs Group reduced their target price on Molson Coors Beverage from $77.00 to $67.00 and set a "buy" rating on the stock in a report on Wednesday, August 6th. Barclays reiterated an "underweight" rating and set a $50.00 target price (up previously from $49.00) on shares of Molson Coors Beverage in a report on Friday, September 12th. Sanford C. Bernstein reduced their target price on Molson Coors Beverage from $65.00 to $55.00 and set a "market perform" rating on the stock in a report on Wednesday, July 9th. Finally, UBS Group dropped their price target on Molson Coors Beverage from $53.00 to $52.00 and set a "neutral" rating on the stock in a research report on Wednesday, August 6th. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, Molson Coors Beverage presently has an average rating of "Hold" and an average price target of $58.18.

Molson Coors Beverage Price Performance

The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.95. The company has a market cap of $9.20 billion, a PE ratio of 9.18, a PEG ratio of 1.70 and a beta of 0.69. The company's 50-day simple moving average is $49.99 and its 200 day simple moving average is $53.55.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $2.05 earnings per share for the quarter, beating analysts' consensus estimates of $1.83 by $0.22. The firm had revenue of $3.20 billion during the quarter, compared to analysts' expectations of $3.12 billion. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. Molson Coors Beverage's quarterly revenue was down 1.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.92 earnings per share. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. On average, sell-side analysts predict that Molson Coors Beverage Company will post 6.35 earnings per share for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The firm 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. This represents a $1.88 annualized dividend and a dividend yield of 4.0%. The ex-dividend date of this dividend was Friday, September 5th. Molson Coors Beverage's dividend payout ratio is 37.08%.

Hedge Funds Weigh In On Molson Coors Beverage

Institutional investors and hedge funds have recently modified their holdings of the company. Golden State Wealth Management LLC lifted its stake in shares of Molson Coors Beverage by 230.2% during the first quarter. Golden State Wealth Management LLC now owns 416 shares of the company's stock valued at $25,000 after buying an additional 290 shares during the period. Millstone Evans Group LLC lifted its stake in shares of Molson Coors Beverage by 151.8% during the first quarter. Millstone Evans Group LLC now owns 423 shares of the company's stock valued at $26,000 after buying an additional 255 shares during the period. Clearstead Trust LLC lifted its stake in shares of Molson Coors Beverage by 952.8% during the second quarter. Clearstead Trust LLC now owns 558 shares of the company's stock valued at $27,000 after buying an additional 505 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of 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 buying an additional 221 shares during the period. Finally, Elequin Capital LP purchased a new position in shares of Molson Coors Beverage during the first quarter valued at approximately $30,000. Hedge funds and other institutional investors own 78.46% of the company's stock.

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.