Piper Sandler Cuts Molson Coors Beverage (NYSE:TAP) Price Target to $52.00

Molson Coors Beverage (NYSE:TAP) had its price objective cut by Piper Sandler from $53.00 to $52.00 in a research note issued to investors on Tuesday, MarketBeat Ratings reports. They currently have a neutral rating on the stock.

Other analysts have also recently issued reports about the company. The Goldman Sachs Group cut their price objective on Molson Coors Beverage from $77.00 to $67.00 and set a “buy” rating for the company in a research report on Wednesday, August 6th. UBS Group dropped their price target on Molson Coors Beverage from $53.00 to $52.00 and set a “neutral” rating for the company in a report on Wednesday, August 6th. Needham & Company LLC decreased their price objective on Molson Coors Beverage from $65.00 to $58.00 and set a “buy” rating on the stock in a report on Wednesday, August 6th. Wells Fargo & Company dropped their target price on Molson Coors Beverage from $58.00 to $55.00 and set an “overweight” rating for the company in a report on Thursday, September 25th. Finally, Sanford C. Bernstein decreased their price target on shares of Molson Coors Beverage from $65.00 to $55.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 9th. Six research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $56.88.

Molson Coors Beverage Stock Performance

Shares of TAP opened at $46.13 on Tuesday. The company has a market cap of $9.12 billion, a PE ratio of 9.10, a price-to-earnings-growth ratio of 1.68 and a beta of 0.63. The firm has a 50-day moving average of $49.07 and a 200-day moving average of $52.70. Molson Coors Beverage has a one year low of $43.80 and a one year high of $64.66. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.95 and a quick ratio of 0.67.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Tuesday, August 5th. The company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.22. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. The company had revenue of $3.20 billion for the quarter, compared to analysts’ expectations of $3.12 billion. During the same period in the prior year, the firm earned $1.92 EPS. Molson Coors Beverage’s quarterly revenue was down 1.6% compared to the same quarter last year. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.540 EPS. As a group, equities analysts forecast that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Molson Coors Beverage Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 19th. Investors of record on Friday, September 5th were paid a $0.47 dividend. The ex-dividend date of this dividend was Friday, September 5th. This represents a $1.88 annualized dividend and a yield of 4.1%. Molson Coors Beverage’s dividend payout ratio (DPR) is 37.08%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of TAP. Central Pacific Bank Trust Division grew its holdings in shares of Molson Coors Beverage by 21.2% during the 3rd quarter. Central Pacific Bank Trust Division now owns 6,855 shares of the company’s stock valued at $310,000 after purchasing an additional 1,200 shares during the last quarter. GAMMA Investing LLC boosted its position in Molson Coors Beverage by 9.2% in the third quarter. GAMMA Investing LLC now owns 4,938 shares of the company’s stock valued at $223,000 after buying an additional 414 shares in the last quarter. Corient Private Wealth LLC grew its stake in shares of Molson Coors Beverage by 76.0% during the second quarter. Corient Private Wealth LLC now owns 122,671 shares of the company’s stock worth $5,899,000 after buying an additional 52,983 shares during the last quarter. Osaic Holdings Inc. grew its stake in shares of Molson Coors Beverage by 220.0% during the second quarter. Osaic Holdings Inc. now owns 80,338 shares of the company’s stock worth $3,863,000 after buying an additional 55,230 shares during the last quarter. Finally, Thrivent Financial for Lutherans increased its holdings in shares of Molson Coors Beverage by 23.4% during the second quarter. Thrivent Financial for Lutherans now owns 23,657 shares of the company’s stock worth $1,138,000 after buying an additional 4,488 shares in the last quarter. Institutional investors and hedge funds 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.