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

Key Points

• Molson Coors Beverage Company (NYSE:TAP) shares reached a new 52-week low at $45.08, reflecting a 3.0% decline in trading.
• Analysts have adjusted their target prices for the stock, with Barclays setting a new target of $50.00 and Sanford C. Bernstein lowering it to $55.00, while the consensus price target stands at $58.18.
• The company recently announced a quarterly dividend of $0.47 per share, representing an annualized dividend of $1.88 and a yield of 4.2%.

Molson Coors Beverage Company (NYSE:TAP - Get Free Report) shares hit a new 52-week low during trading on Tuesday . The stock traded as low as $45.08 and last traded at $45.15, with a volume of 3558069 shares trading hands. The stock had previously closed at $46.57.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Barclays reiterated an "underweight" rating and set a $50.00 target price (up from $49.00) on shares of Molson Coors Beverage in a research note on Friday, September 12th. Sanford C. Bernstein cut their target price on Molson Coors Beverage from $65.00 to $55.00 and set a "market perform" rating on the stock in a research note on Wednesday, July 9th. Evercore ISI cut their target price on Molson Coors Beverage from $58.00 to $53.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 6th. Wells Fargo & Company cut their target price on Molson Coors Beverage from $65.00 to $58.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 25th. Finally, UBS Group cut their price objective on Molson Coors Beverage from $53.00 to $52.00 and set a "neutral" rating for the company in a report on Wednesday, August 6th. Six equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $58.18.

Molson Coors Beverage Stock Down 3.0%

The company has a market capitalization of $8.93 billion, a P/E ratio of 8.91, a PEG ratio of 1.70 and a beta of 0.69. The company has a 50 day simple moving average of $49.91 and a two-hundred day simple moving average of $53.43. 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 EPS for the quarter, beating analysts' consensus estimates of $1.83 by $0.22. The firm had revenue of $3.20 billion for the quarter, compared to analysts' expectations of $3.12 billion. Molson Coors Beverage had a return on equity of 8.61% and a net margin of 7.81%.The company's quarterly revenue was down 1.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.92 earnings per share. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. As a group, equities analysts predict that Molson Coors Beverage Company will post 6.35 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 19th. Stockholders of record on Friday, September 5th were paid a dividend of $0.47 per share. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.88 dividend on an annualized basis and a dividend yield of 4.2%. Molson Coors Beverage's dividend payout ratio is currently 37.08%.

Institutional Trading of Molson Coors Beverage

A number of hedge funds have recently bought and sold shares of TAP. Twin Capital Management Inc. raised its stake in shares of Molson Coors Beverage by 0.7% in the 1st quarter. Twin Capital Management Inc. now owns 24,791 shares of the company's stock valued at $1,509,000 after purchasing an additional 180 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Molson Coors Beverage by 32.9% in the 1st quarter. Geneos Wealth Management Inc. now owns 800 shares of the company's stock valued at $49,000 after purchasing an additional 198 shares in the last quarter. Signet Financial Management LLC raised its stake in shares of Molson Coors Beverage by 3.7% in the 2nd quarter. Signet Financial Management LLC now owns 5,757 shares of the company's stock valued at $277,000 after purchasing an additional 208 shares in the last quarter. Callan Family Office LLC raised its stake in shares of Molson Coors Beverage by 5.0% in the 1st quarter. Callan Family Office LLC now owns 4,426 shares of the company's stock valued at $269,000 after purchasing an additional 209 shares in the last quarter. Finally, Forum Financial Management LP raised its stake in shares of Molson Coors Beverage by 4.4% in the 4th quarter. Forum Financial Management LP now owns 5,210 shares of the company's stock valued at $299,000 after purchasing an additional 220 shares in the last quarter. Hedge funds and other 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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