Molson Coors Beverage (NYSE:TAP – Get Free Report) had its target price decreased by investment analysts at Citigroup from $53.00 to $47.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “sell” rating on the stock. Citigroup’s price objective would suggest a potential downside of 8.15% from the company’s current price.
A number of other research analysts have also commented on the company. UBS Group cut their target price on Molson Coors Beverage from $70.00 to $64.00 and set a “neutral” rating for the company in a research note on Wednesday, May 1st. Evercore ISI dropped their price objective on Molson Coors Beverage from $70.00 to $68.00 and set an “outperform” rating for the company in a research note on Wednesday, May 1st. StockNews.com lowered Molson Coors Beverage from a “buy” rating to a “hold” rating in a research note on Thursday, May 2nd. Bank of America dropped their price objective on Molson Coors Beverage from $62.00 to $54.00 and set a “neutral” rating for the company in a research note on Wednesday. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Molson Coors Beverage from $64.00 to $65.00 and gave the stock a “hold” rating in a research note on Wednesday, April 17th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $63.13.
Check Out Our Latest Stock Analysis on Molson Coors Beverage
Molson Coors Beverage Stock Performance
Molson Coors Beverage (NYSE:TAP – Get Free Report) last issued its earnings results on Tuesday, April 30th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.21. The business had revenue of $2.60 billion during the quarter, compared to analyst estimates of $2.50 billion. Molson Coors Beverage had a return on equity of 9.47% and a net margin of 7.66%. Molson Coors Beverage’s revenue was up 10.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.54 earnings per share. Sell-side analysts expect that Molson Coors Beverage will post 5.69 EPS for the current year.
Hedge Funds Weigh In On Molson Coors Beverage
Several hedge funds have recently added to or reduced their stakes in TAP. Czech National Bank boosted its holdings in Molson Coors Beverage by 0.5% during the first quarter. Czech National Bank now owns 32,580 shares of the company’s stock worth $2,191,000 after buying an additional 149 shares during the last quarter. Kestra Private Wealth Services LLC boosted its holdings in Molson Coors Beverage by 1.5% during the fourth quarter. Kestra Private Wealth Services LLC now owns 11,589 shares of the company’s stock worth $709,000 after buying an additional 174 shares during the last quarter. Venturi Wealth Management LLC boosted its holdings in Molson Coors Beverage by 46.6% during the first quarter. Venturi Wealth Management LLC now owns 585 shares of the company’s stock worth $39,000 after buying an additional 186 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its holdings in Molson Coors Beverage by 1.8% during the fourth quarter. Linden Thomas Advisory Services LLC now owns 11,607 shares of the company’s stock worth $710,000 after buying an additional 200 shares during the last quarter. Finally, Kentucky Retirement Systems boosted its holdings in Molson Coors Beverage by 1.5% during the fourth quarter. Kentucky Retirement Systems now owns 14,815 shares of the company’s stock worth $907,000 after buying an additional 221 shares during the last quarter. 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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