Molson Coors Beverage (NYSE:TAP) Given New $41.00 Price Target at Jefferies Financial Group

Molson Coors Beverage (NYSE:TAP) had its price objective lowered by equities research analysts at Jefferies Financial Group from $43.00 to $41.00 in a research report issued on Friday,MarketScreener reports. Jefferies Financial Group’s price target points to a potential upside of 0.58% from the stock’s previous close.

Other equities research analysts have also issued reports about the stock. BNP Paribas Exane lowered their price target on shares of Molson Coors Beverage from $36.00 to $35.00 and set an “underperform” rating on the stock in a research note on Wednesday, June 3rd. UBS Group decreased their target price on Molson Coors Beverage from $50.00 to $45.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Sanford C. Bernstein reduced their price target on Molson Coors Beverage from $74.00 to $45.00 and set a “market perform” rating on the stock in a research report on Tuesday, May 26th. TD Cowen reduced their price target on shares of Molson Coors Beverage from $47.00 to $43.00 and set a “hold” rating on the stock in a research report on Friday, February 20th. Finally, Wall Street Zen downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Sunday, May 17th. Four research analysts have rated the stock with a Buy rating, eleven have given a Hold rating and four have given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $44.88.

Molson Coors Beverage Trading Down 0.4%

TAP traded down $0.17 during mid-day trading on Friday, hitting $40.76. The stock had a trading volume of 489,335 shares, compared to its average volume of 3,126,331. The stock’s fifty day simple moving average is $42.22 and its 200-day simple moving average is $45.52. The firm has a market capitalization of $7.65 billion, a price-to-earnings ratio of -3.83 and a beta of 0.41. Molson Coors Beverage has a 1-year low of $38.04 and a 1-year high of $54.82. The company has a debt-to-equity ratio of 0.38, a current ratio of 0.54 and a quick ratio of 0.38.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Friday, May 1st. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.26. The business had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.33 billion. Molson Coors Beverage had a negative net margin of 16.14% and a positive return on equity of 9.79%. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.50 EPS. As a group, research analysts forecast that Molson Coors Beverage will post 4.74 EPS for the current fiscal year.

Insider Transactions at Molson Coors Beverage

In other news, Director Geoffrey E. Molson sold 1,245 shares of the company’s stock in a transaction on Thursday, May 21st. The shares were sold at an average price of $42.50, for a total value of $52,912.50. Following the sale, the director directly owned 9,871 shares of the company’s stock, valued at approximately $419,517.50. This represents a 11.20% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 2.27% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in TAP. Fairfax Financial Holdings Ltd. Can increased its holdings in shares of Molson Coors Beverage by 5.9% during the third quarter. Fairfax Financial Holdings Ltd. Can now owns 1,290,071 shares of the company’s stock valued at $58,363,000 after acquiring an additional 71,571 shares in the last quarter. Aquatic Capital Management LLC bought a new stake in Molson Coors Beverage during the 3rd quarter valued at $8,365,000. Citigroup Inc. raised its holdings in Molson Coors Beverage by 148.5% during the third quarter. Citigroup Inc. now owns 1,364,241 shares of the company’s stock worth $61,732,000 after buying an additional 815,348 shares during the last quarter. AIA Group Ltd lifted its stake in shares of Molson Coors Beverage by 132.5% in the third quarter. AIA Group Ltd now owns 88,063 shares of the company’s stock valued at $3,985,000 after buying an additional 50,192 shares in the last quarter. Finally, Oak Thistle LLC acquired a new position in shares of Molson Coors Beverage during the fourth quarter valued at about $3,194,000. 78.46% of the stock is owned by institutional investors and hedge funds.

Molson Coors Beverage Company Profile

Molson Coors Beverage Company is a leading multinational brewing and beverage enterprise formed through the 2005 merger of Canada’s Molson and the United States’ Coors. The company develops, markets and distributes an array of alcoholic and non-alcoholic beverages, focusing primarily on beer and ready-to-drink products. Its portfolio spans flagship brands such as Coors Light, Molson Canadian and Miller Lite, alongside craft-style offerings like Blue Moon and global imports including Carling and Staropramen.

In addition to its core beer business, Molson Coors has expanded into adjacent categories to capture evolving consumer tastes.