Molson Coors Beverage (NYSE:TAP) Price Target Cut to $52.00 by Analysts at UBS Group

Key Points

• Molson Coors Beverage's target price has been reduced by UBS Group from $53.00 to $52.00, maintaining a "neutral" rating on the stock, indicating a potential upside of just 3.55% from current prices.
• Several other analysts have also downgraded their ratings and target prices for Molson Coors, with Citigroup lowering its price objective to $51.00 and Morgan Stanley reducing it to $53.00.
• The company's recent earnings report showed a net margin of 7.74% and a year-over-year revenue decrease of 1.6%, despite beating EPS estimates for the quarter.

Molson Coors Beverage (NYSE:TAP - Get Free Report) had its target price cut by analysts at UBS Group from $53.00 to $52.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a "neutral" rating on the stock. UBS Group's target price would indicate a potential upside of 3.55% from the company's current price.

A number of other equities research analysts also recently weighed in on the company. Morgan Stanley reduced their target price on Molson Coors Beverage from $58.00 to $53.00 and set an "equal weight" rating on the stock in a report on Wednesday. Wall Street Zen downgraded shares of Molson Coors Beverage from a "buy" rating to a "hold" rating in a research note on Saturday, May 17th. Citigroup decreased their price objective on shares of Molson Coors Beverage from $56.00 to $51.00 and set a "neutral" rating on the stock in a research report on Tuesday, July 15th. Needham & Company LLC reduced their price target on shares of Molson Coors Beverage from $65.00 to $58.00 and set a "buy" rating on the stock in a report on Wednesday. Finally, Barclays reduced their price target on shares of Molson Coors Beverage from $57.00 to $53.00 and set an "equal weight" rating on the stock in a report on Tuesday, July 15th. Twelve equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $58.29.

Molson Coors Beverage Price Performance

Shares of NYSE TAP traded up $1.00 during trading on Wednesday, hitting $50.22. 1,808,521 shares of the company were exchanged, compared to its average volume of 2,460,162. The company has a market cap of $10.15 billion, a price-to-earnings ratio of 10.10, a PEG ratio of 2.94 and a beta of 0.67. Molson Coors Beverage has a 1 year low of $46.94 and a 1 year high of $64.66. The firm's fifty day moving average price is $50.11 and its 200 day moving average price is $55.24. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.89 and a quick ratio of 0.59.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $2.05 EPS for the quarter, beating analysts' consensus estimates of $1.83 by $0.22. Molson Coors Beverage had a return on equity of 8.59% and a net margin of 7.74%. The business 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 firm posted $1.92 EPS. The firm's revenue for the quarter was down 1.6% on a year-over-year basis. On average, sell-side analysts expect that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Insider Activity at Molson Coors Beverage

In related news, Director Geoffrey E. Molson sold 1,333 shares of the stock in a transaction that occurred on Wednesday, May 21st. The stock was sold at an average price of $56.29, for a total value of $75,034.57. Following the transaction, the director owned 27,595 shares of the company's stock, valued at $1,553,322.55. This represents a 4.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.71% of the company's stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Golden State Wealth Management LLC increased its holdings in Molson Coors Beverage by 230.2% in 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 last quarter. Millstone Evans Group LLC increased its holdings in Molson Coors Beverage by 151.8% in 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 in the last quarter. Elequin Capital LP acquired a new position in shares of Molson Coors Beverage in the 1st quarter valued at $30,000. Financial Management Professionals Inc. boosted its holdings in shares of Molson Coors Beverage by 3,286.7% in the 1st quarter. Financial Management Professionals Inc. now owns 508 shares of the company's stock valued at $31,000 after purchasing an additional 493 shares during the last quarter. Finally, Eastern Bank acquired a new position in shares of Molson Coors Beverage in the 1st quarter valued at $33,000. 78.46% of the stock is owned by hedge funds and other institutional investors.

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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