Molson Coors Beverage (NYSE:TAP) Stock Rating Lowered by StockNews.com

Molson Coors Beverage (NYSE:TAP) was downgraded by equities researchers at StockNews.com from a “buy” rating to a “hold” rating in a report released on Saturday.

Other equities research analysts also recently issued reports about the company. Barclays decreased their price objective on Molson Coors Beverage from $60.00 to $57.00 and set an “equal weight” rating for the company in a report on Monday, May 12th. JPMorgan Chase & Co. dropped their price target on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. Morgan Stanley lowered their target price on Molson Coors Beverage from $63.00 to $58.00 and set an “equal weight” rating on the stock in a research note on Friday, May 9th. UBS Group cut their price target on Molson Coors Beverage from $63.00 to $59.00 and set a “neutral” rating for the company in a research note on Friday, May 9th. Finally, Berenberg Bank assumed coverage on shares of Molson Coors Beverage in a research note on Wednesday, April 2nd. They issued a “buy” rating and a $86.90 target price for the company. Eleven analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $62.71.

Molson Coors Beverage Stock Up 1.0%

Shares of NYSE TAP opened at $56.81 on Friday. The company has a 50 day simple moving average of $58.61 and a 200-day simple moving average of $58.45. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $64.66. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. The company has a market capitalization of $11.51 billion, a P/E ratio of 10.62, a P/E/G ratio of 1.52 and a beta of 0.73.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.50 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.30). The firm had revenue of $2.30 billion during 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 firm’s revenue was down 11.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.95 EPS. On average, equities research analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Norges Bank purchased a new position in Molson Coors Beverage in the fourth quarter valued at approximately $142,407,000. Ameriprise Financial Inc. increased its position in shares of Molson Coors Beverage by 414.3% in the first quarter. Ameriprise Financial Inc. now owns 1,987,132 shares of the company’s stock worth $120,960,000 after acquiring an additional 1,600,748 shares in the last quarter. Fairfax Financial Holdings Ltd. Can purchased a new position in shares of Molson Coors Beverage in the 4th quarter valued at $68,010,000. KBC Group NV lifted its holdings in shares of Molson Coors Beverage by 269.1% during the 1st quarter. KBC Group NV now owns 1,237,539 shares of the company’s stock valued at $75,329,000 after acquiring an additional 902,296 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in Molson Coors Beverage by 20.0% during the 1st 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 during the period. Institutional investors and hedge funds own 78.46% of the company’s stock.

About Molson Coors Beverage

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.