Molson Coors Beverage (NYSE:TAP) Price Target Lowered to $56.00 at Deutsche Bank Aktiengesellschaft

Molson Coors Beverage (NYSE:TAP) had its price objective decreased by Deutsche Bank Aktiengesellschaft from $62.00 to $56.00 in a research note issued to investors on Thursday, Benzinga reports. Deutsche Bank Aktiengesellschaft currently has a hold rating on the stock.

TAP has been the topic of several other reports. Citigroup decreased their price target on shares of Molson Coors Beverage from $53.00 to $47.00 and set a sell rating on the stock in a research report on Wednesday, July 10th. JPMorgan Chase & Co. decreased their price target on shares of Molson Coors Beverage from $60.00 to $54.00 and set a neutral rating on the stock in a research report on Monday, July 15th. Wells Fargo & Company decreased their price target on shares of Molson Coors Beverage from $55.00 to $50.00 and set an underweight rating on the stock in a research report on Wednesday, July 10th. Evercore ISI decreased their price target on shares of Molson Coors Beverage from $70.00 to $68.00 and set an outperform rating on the stock in a research report on Wednesday, May 1st. Finally, The Goldman Sachs Group upgraded shares of Molson Coors Beverage from a neutral rating to a buy rating and raised their price target for the stock from $66.00 to $75.00 in a research report on Tuesday, April 9th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus price target of $60.47.

Molson Coors Beverage Stock Performance

NYSE:TAP opened at $54.01 on Thursday. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $70.90. The firm’s fifty day simple moving average is $52.04 and its 200 day simple moving average is $59.33. The company has a current ratio of 0.69, a quick ratio of 0.47 and a debt-to-equity ratio of 0.40. The firm has a market capitalization of $11.44 billion, a PE ratio of 10.80, a PEG ratio of 2.05 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Tuesday, April 30th. The company reported $0.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.21. The company had revenue of $2.60 billion for the quarter, compared to analyst estimates of $2.50 billion. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. The business’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the business posted $0.54 EPS. On average, sell-side analysts anticipate that Molson Coors Beverage will post 5.58 EPS for the current year.

Molson Coors Beverage Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 20th. Investors of record on Friday, August 30th will be issued a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a yield of 3.26%. The ex-dividend date is Friday, August 30th. Molson Coors Beverage’s dividend payout ratio is currently 35.20%.

Hedge Funds Weigh In On Molson Coors Beverage

Several institutional investors have recently added to or reduced their stakes in TAP. Family Firm Inc. bought a new position in Molson Coors Beverage during the 2nd quarter valued at about $26,000. Tennessee Valley Asset Management Partners bought a new position in Molson Coors Beverage during the 4th quarter valued at about $29,000. Montag A & Associates Inc. bought a new position in Molson Coors Beverage during the 4th quarter valued at about $31,000. Raleigh Capital Management Inc. lifted its holdings in Molson Coors Beverage by 2,087.5% during the 4th quarter. Raleigh Capital Management Inc. now owns 525 shares of the company’s stock valued at $32,000 after purchasing an additional 501 shares during the last quarter. Finally, GPS Wealth Strategies Group LLC lifted its holdings in Molson Coors Beverage by 83.8% during the 2nd quarter. GPS Wealth Strategies Group LLC now owns 645 shares of the company’s stock valued at $33,000 after purchasing an additional 294 shares during the last quarter. 78.46% of the stock is owned by institutional investors.

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.