Molson Coors Beverage (NYSE:TAP) Reaches New 1-Year Low - What's Next?

Molson Coors Beverage (NYSE:TAP - Get Free Report) reached a new 52-week low during trading on Monday . The company traded as low as $49.36 and last traded at $49.59, with a volume of 2018895 shares. The stock had previously closed at $50.59.

Analyst Ratings Changes

Several brokerages have issued reports on TAP. Roth Capital set a $71.00 target price on shares of Molson Coors Beverage and gave the stock a "buy" rating in a report on Tuesday, May 20th. 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 target price on the stock. Needham & Company LLC cut their target price on shares of Molson Coors Beverage from $72.00 to $65.00 and set a "buy" rating on the stock in a research report on Monday, May 12th. 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, UBS Group cut their target price on shares of Molson Coors Beverage from $63.00 to $59.00 and set a "neutral" rating on the stock in a research report on Friday, May 9th. Eleven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $63.26.

Molson Coors Beverage Stock Down 2.0%

The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. The firm has a fifty day moving average price of $55.95 and a 200 day moving average price of $57.52. The firm has a market capitalization of $10.03 billion, a price-to-earnings ratio of 9.27, a PEG ratio of 1.52 and a beta of 0.72.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.30). The company had revenue of $2.30 billion for the quarter, compared to analysts' expectations of $2.43 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The business's quarterly revenue was down 11.3% on a year-over-year basis. During the same period in the previous year, the business posted $0.95 EPS. As a group, sell-side analysts expect that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Friday, June 6th will be paid a $0.47 dividend. The ex-dividend date is Friday, June 6th. This represents a $1.88 annualized dividend and a yield of 3.79%. Molson Coors Beverage's payout ratio is currently 37.83%.

Insiders Place Their Bets

In related news, Director Geoffrey E. Molson sold 1,333 shares of the stock in a transaction dated Wednesday, May 21st. The stock was sold at an average price of $56.29, for a total value of $75,034.57. Following the completion of the transaction, the director now owns 27,595 shares of the company's stock, valued at approximately $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 SEC, which is accessible through this link. 2.71% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Golden State Wealth Management LLC lifted its holdings in shares of Molson Coors Beverage by 230.2% in the 1st quarter. Golden State Wealth Management LLC now owns 416 shares of the company's stock worth $25,000 after purchasing an additional 290 shares during the last quarter. Millstone Evans Group LLC increased its position in shares of Molson Coors Beverage by 151.8% during the 1st quarter. Millstone Evans Group LLC now owns 423 shares of the company's stock valued at $26,000 after purchasing an additional 255 shares during the period. Elequin Capital LP acquired a new position in shares of Molson Coors Beverage in the 1st quarter worth $30,000. Financial Management Professionals Inc. grew 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 worth $31,000 after acquiring 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 worth $33,000. Institutional investors and hedge funds own 78.46% of the company's stock.

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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