Molson Coors Beverage (NYSE:TAP) Sets New 12-Month Low - Should You Sell?

Shares of Molson Coors Beverage Company (NYSE:TAP - Get Free Report) hit a new 52-week low during trading on Monday . The stock traded as low as $47.41 and last traded at $47.79, with a volume of 246183 shares. The stock had previously closed at $48.05.

Analyst Upgrades and Downgrades

TAP has been the topic of several analyst reports. Berenberg Bank started coverage on shares of Molson Coors Beverage in a report on Wednesday, April 2nd. They issued a "buy" rating and a $86.90 price target on the stock. Barclays decreased their target price on shares of Molson Coors Beverage from $60.00 to $57.00 and set an "equal weight" rating on the stock in a research report on Monday, May 12th. Roth Capital set a $71.00 price target on shares of Molson Coors Beverage and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Morgan Stanley cut their price target on shares of Molson Coors Beverage from $63.00 to $58.00 and set an "equal weight" rating for the company in a research note on Friday, May 9th. Finally, UBS Group lowered their price objective on Molson Coors Beverage from $63.00 to $59.00 and set a "neutral" rating on the stock in a research note 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's stock. Based on data from MarketBeat.com, Molson Coors Beverage currently has an average rating of "Hold" and a consensus price target of $63.26.

Molson Coors Beverage Stock Down 0.7%

The firm's 50-day moving average is $54.85 and its two-hundred day moving average is $57.07. The stock has a market cap of $9.65 billion, a P/E ratio of 9.61, a PEG ratio of 1.79 and a beta of 0.72. 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 (NYSE:TAP - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.50 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.80 by ($0.30). The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.43 billion. Molson Coors Beverage had a net margin of 7.74% and a return on equity of 8.59%. The company's revenue was down 11.3% compared to the same quarter last year. During the same period last year, the company earned $0.95 EPS. On average, equities research analysts anticipate that Molson Coors Beverage Company will post 6.35 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 20th. Stockholders of record on Friday, June 6th were paid a $0.47 dividend. This represents a $1.88 annualized dividend and a dividend yield of 3.94%. The ex-dividend date of this dividend was Friday, June 6th. Molson Coors Beverage's dividend payout ratio (DPR) is presently 37.83%.

Insider Buying and Selling

In related news, Director Geoffrey E. Molson sold 1,333 shares of Molson Coors Beverage stock in a transaction on Wednesday, May 21st. The stock was sold at an average price of $56.29, for a total transaction of $75,034.57. Following the completion of the sale, the director now directly owns 27,595 shares of the company's stock, valued at $1,553,322.55. The trade was 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 at this link. 2.71% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Molson Coors Beverage

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TAP. Randolph Co Inc raised its position in shares of Molson Coors Beverage by 26.2% in the 4th quarter. Randolph Co Inc now owns 477,187 shares of the company's stock valued at $27,352,000 after acquiring an additional 98,984 shares during the period. HighTower Advisors LLC raised its holdings in Molson Coors Beverage by 123.3% in the fourth quarter. HighTower Advisors LLC now owns 18,258 shares of the company's stock worth $1,047,000 after purchasing an additional 10,080 shares during the period. US Bancorp DE raised its holdings in Molson Coors Beverage by 103.9% in the fourth quarter. US Bancorp DE now owns 19,285 shares of the company's stock worth $1,106,000 after purchasing an additional 9,825 shares during the period. Unified Investment Management bought a new position in shares of Molson Coors Beverage during the fourth quarter worth $871,000. Finally, Estuary Capital Management LP acquired a new position in shares of Molson Coors Beverage in the 4th quarter valued at $39,052,000. Institutional investors 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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