Deutsche Bank Aktiengesellschaft Cuts Molson Coors Beverage (NYSE:TAP) Price Target to $52.00

Molson Coors Beverage (NYSE:TAP – Get Rating) had its price target decreased by Deutsche Bank Aktiengesellschaft from $54.00 to $52.00 in a report released on Wednesday, The Fly reports.

A number of other equities analysts also recently commented on TAP. Sanford C. Bernstein downgraded Molson Coors Beverage from an outperform rating to a market perform rating and set a $59.00 price objective on the stock. in a research report on Tuesday, May 17th. The Goldman Sachs Group upgraded Molson Coors Beverage from a sell rating to a neutral rating and lifted their price objective for the stock from $46.00 to $54.00 in a research report on Tuesday, June 28th. Redburn Partners upgraded Molson Coors Beverage from a sell rating to a neutral rating in a research report on Wednesday, July 13th. Citigroup lifted their price objective on Molson Coors Beverage from $58.00 to $61.00 in a research report on Friday, May 6th. Finally, UBS Group downgraded Molson Coors Beverage from a buy rating to a neutral rating and reduced their price objective for the stock from $60.00 to $54.00 in a research report on Tuesday, June 21st. One analyst has rated the stock with a sell rating, nine have issued a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of Hold and an average price target of $53.67.

Molson Coors Beverage Stock Performance

NYSE TAP opened at $54.07 on Wednesday. The company has a market cap of $11.73 billion, a PE ratio of 16.04, a price-to-earnings-growth ratio of 2.84 and a beta of 0.82. The stock’s 50 day simple moving average is $55.19 and its 200-day simple moving average is $53.12. Molson Coors Beverage has a 1-year low of $42.46 and a 1-year high of $60.12. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.82 and a quick ratio of 0.54.

Molson Coors Beverage (NYSE:TAP – Get Rating) last released its earnings results on Tuesday, August 2nd. The company reported $1.19 earnings per share for the quarter, meeting the consensus estimate of $1.19. The business had revenue of $2.92 billion for the quarter, compared to the consensus estimate of $2.94 billion. Molson Coors Beverage had a return on equity of 6.46% and a net margin of 5.73%. The business’s quarterly revenue was down .6% compared to the same quarter last year. During the same quarter last year, the business posted $1.58 earnings per share. As a group, equities research analysts anticipate that Molson Coors Beverage will post 4.02 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Friday, September 2nd will be paid a $0.38 dividend. The ex-dividend date is Thursday, September 1st. This represents a $1.52 dividend on an annualized basis and a dividend yield of 2.81%. Molson Coors Beverage’s payout ratio is presently 45.10%.

Institutional Investors Weigh In On Molson Coors Beverage

Institutional investors have recently modified their holdings of the company. Retirement Planning Co of New England Inc. acquired a new stake in shares of Molson Coors Beverage in the fourth quarter valued at $28,000. Win Advisors Inc. grew its stake in shares of Molson Coors Beverage by 51.8% in the second quarter. Win Advisors Inc. now owns 516 shares of the company’s stock valued at $29,000 after buying an additional 176 shares in the last quarter. CX Institutional acquired a new stake in shares of Molson Coors Beverage in the second quarter valued at $33,000. Global Retirement Partners LLC grew its stake in shares of Molson Coors Beverage by 304.9% in the second quarter. Global Retirement Partners LLC now owns 664 shares of the company’s stock valued at $36,000 after buying an additional 500 shares in the last quarter. Finally, Tobam acquired a new stake in shares of Molson Coors Beverage in the first quarter valued at $37,000. 79.62% of the stock is owned by institutional investors and hedge funds.

About Molson Coors Beverage

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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.