Wells Fargo & Company Cuts Molson Coors Beverage (NYSE:TAP) Price Target to $55.00

Key Points

• Wells Fargo & Company has reduced the price target for Molson Coors Beverage from $58.00 to $55.00, while maintaining an "overweight" rating on the stock, suggesting a potential upside of 21.19% from its previous close.
• Other brokerages have also adjusted their price targets, with Barclays setting a target of $50.00 and JPMorgan Chase reducing theirs to $53.00, indicating varied sentiment among analysts regarding Molson Coors' stock.
• Molson Coors reported $2.05 earnings per share in its last quarterly results, surpassing expectations and showing a revenue of $3.20 billion, despite a decrease compared to the previous year.

Molson Coors Beverage (NYSE:TAP - Get Free Report) had its price target dropped by Wells Fargo & Company from $58.00 to $55.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's price objective points to a potential upside of 21.19% from the company's previous close.

A number of other brokerages have also weighed in on TAP. Barclays reissued an "underweight" rating and issued a $50.00 price target (up previously from $49.00) on shares of Molson Coors Beverage in a report on Friday, September 12th. Needham & Company LLC reduced their price objective on shares of Molson Coors Beverage from $65.00 to $58.00 and set a "buy" rating on the stock in a research note on Wednesday, August 6th. JPMorgan Chase & Co. reduced their price objective on shares of Molson Coors Beverage from $62.00 to $53.00 and set a "neutral" rating on the stock in a research note on Thursday, July 31st. Evercore ISI reduced their price objective on shares of 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. Finally, Bank of America cut shares of Molson Coors Beverage from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $65.00 to $50.00 in a research note on Friday, June 27th. Six research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $57.99.

Molson Coors Beverage Stock Performance

Shares of Molson Coors Beverage stock opened at $45.39 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.67. The firm has a market cap of $8.97 billion, a P/E ratio of 8.95, a P/E/G ratio of 1.61 and a beta of 0.69. The firm has a 50 day simple moving average of $49.72 and a 200 day simple moving average of $53.31. Molson Coors Beverage has a fifty-two week low of $43.80 and a fifty-two week high of $64.66.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued 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 business had revenue of $3.20 billion during the quarter, compared to analyst estimates 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 revenue for the quarter was down 1.6% compared to the same quarter last year. During the same quarter last year, the business posted $1.92 earnings per share. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. Sell-side analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Molson Coors Beverage

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Molson Coors Beverage by 0.4% during the second quarter. Vanguard Group Inc. now owns 21,208,854 shares of the company's stock worth $1,019,934,000 after purchasing an additional 92,058 shares in the last quarter. Dodge & Cox boosted its position in shares of Molson Coors Beverage by 2.3% during the second quarter. Dodge & Cox now owns 14,396,195 shares of the company's stock worth $692,313,000 after purchasing an additional 327,885 shares in the last quarter. LSV Asset Management boosted its position in shares of Molson Coors Beverage by 1.4% during the first quarter. LSV Asset Management now owns 6,369,498 shares of the company's stock worth $387,711,000 after purchasing an additional 86,601 shares in the last quarter. Clarkston Capital Partners LLC boosted its position in shares of Molson Coors Beverage by 0.7% during the first quarter. Clarkston Capital Partners LLC now owns 4,553,212 shares of the company's stock worth $277,154,000 after purchasing an additional 33,535 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in shares of Molson Coors Beverage by 20.0% during the first quarter. Dimensional Fund Advisors LP now owns 4,503,879 shares of the company's stock worth $274,144,000 after purchasing an additional 750,388 shares in the last quarter. 78.46% of the stock is owned by 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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