Molson Coors Beverage (NYSE:TAP) Downgraded by UBS Group to “Neutral”

UBS Group downgraded shares of Molson Coors Beverage (NYSE:TAPGet Rating) from a buy rating to a neutral rating in a research report report published on Tuesday morning, Marketbeat reports. They currently have $54.00 price target on the stock, down from their previous price target of $60.00.

Several other research firms have also commented on TAP. Sanford C. Bernstein lowered shares of Molson Coors Beverage from an outperform rating to a market perform rating and set a $59.00 price target for the company. in a report on Tuesday, May 17th. Citigroup lifted their price target on shares of Molson Coors Beverage from $58.00 to $61.00 in a report on Friday, May 6th. StockNews.com assumed coverage on shares of Molson Coors Beverage in a report on Thursday, March 31st. They issued a hold rating for the company. TheStreet raised shares of Molson Coors Beverage from a c rating to a b- rating in a research note on Wednesday, February 23rd. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Molson Coors Beverage from $49.00 to $51.00 in a research note on Wednesday, April 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and an average target price of $54.00.

NYSE TAP opened at $53.80 on Tuesday. Molson Coors Beverage has a one year low of $42.46 and a one year high of $57.45. The company has a 50-day simple moving average of $53.78 and a 200-day simple moving average of $51.09. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.54 and a current ratio of 0.81. The firm has a market capitalization of $11.67 billion, a PE ratio of 10.89, a price-to-earnings-growth ratio of 2.75 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAPGet Rating) last posted its quarterly earnings results on Tuesday, May 3rd. The company reported $0.29 EPS for the quarter, beating the consensus estimate of $0.18 by $0.11. Molson Coors Beverage had a net margin of 8.36% and a return on equity of 7.12%. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.14 billion. During the same period in the previous year, the business posted $0.01 EPS. The company’s quarterly revenue was up 16.7% on a year-over-year basis. Equities analysts forecast that Molson Coors Beverage will post 4 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, June 15th. Stockholders of record on Friday, June 3rd were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.83%. The ex-dividend date was Thursday, June 2nd. Molson Coors Beverage’s dividend payout ratio is currently 30.77%.

Several large investors have recently modified their holdings of the company. Bank of America Corp DE lifted its stake in shares of Molson Coors Beverage by 32.5% in the 1st quarter. Bank of America Corp DE now owns 752,971 shares of the company’s stock worth $40,194,000 after acquiring an additional 184,893 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Molson Coors Beverage by 71.8% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,576 shares of the company’s stock worth $1,579,000 after purchasing an additional 12,357 shares in the last quarter. Advisory Services Network LLC raised its holdings in shares of Molson Coors Beverage by 4.0% in the 1st quarter. Advisory Services Network LLC now owns 15,728 shares of the company’s stock worth $839,000 after purchasing an additional 600 shares in the last quarter. Neuberger Berman Group LLC raised its holdings in shares of Molson Coors Beverage by 2.6% in the 1st quarter. Neuberger Berman Group LLC now owns 222,417 shares of the company’s stock worth $11,872,000 after purchasing an additional 5,675 shares in the last quarter. Finally, Toroso Investments LLC raised its holdings in shares of Molson Coors Beverage by 8.6% in the 1st quarter. Toroso Investments LLC now owns 7,041 shares of the company’s stock worth $376,000 after purchasing an additional 559 shares in the last quarter. 79.62% of the stock is owned by institutional investors.

About Molson Coors Beverage (Get Rating)

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, Middle East, Africa, and Asia Pacific. It offers flavored malt beverages, craft, and ready to drink beverages. The company was formerly known as Molson Coors Brewing Company and changed its name to Molson Coors Beverage Company in January 2020.

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