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

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

Several other equities analysts have also recently issued reports on TAP. Piper Sandler decreased their price objective on Molson Coors Beverage from $69.00 to $57.00 and set a neutral rating for the company in a report on Friday, July 19th. Jefferies Financial Group cut their price objective on Molson Coors Beverage from $61.00 to $57.00 and set a hold rating for the company in a research note on Thursday, July 18th. Bank of America dropped their price target on Molson Coors Beverage from $62.00 to $54.00 and set a neutral rating for the company in a research report on Wednesday, July 10th. The Goldman Sachs Group upgraded Molson Coors Beverage from a neutral rating to a buy rating and upped their price target for the company from $66.00 to $75.00 in a research report on Tuesday, April 9th. Finally, Citigroup decreased their price objective on Molson Coors Beverage from $53.00 to $47.00 and set a sell rating on the stock in a report on Wednesday, July 10th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of Hold and a consensus target price of $60.47.

Molson Coors Beverage Stock Up 1.2 %

Molson Coors Beverage stock opened at $54.01 on Thursday. The business has a fifty day moving average price of $52.04 and a 200-day moving average price of $59.33. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $70.90. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.69 and a quick ratio of 0.47. The stock has a market capitalization of $11.44 billion, a price-to-earnings ratio of 10.80, a PEG ratio of 2.05 and a beta of 0.81.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings results on Tuesday, April 30th. The company reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.74 by $0.21. The company had revenue of $2.60 billion during the quarter, compared to analysts’ expectations of $2.50 billion. Molson Coors Beverage had a return on equity of 9.47% and a net margin of 7.66%. The firm’s revenue was up 10.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.54 EPS. Equities research analysts forecast that Molson Coors Beverage will post 5.58 EPS for the current fiscal year.

Molson Coors Beverage Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 20th. Stockholders of record on Friday, August 30th will be given a dividend of $0.44 per share. This represents a $1.76 dividend on an annualized basis and a dividend 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 large investors have recently bought and sold shares of the business. Czech National Bank increased its holdings in Molson Coors Beverage by 0.5% in the first quarter. Czech National Bank now owns 32,580 shares of the company’s stock valued at $2,191,000 after buying an additional 149 shares during the last quarter. Kestra Private Wealth Services LLC grew its holdings in shares of 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% in the 1st quarter. Venturi Wealth Management LLC now owns 585 shares of the company’s stock valued at $39,000 after purchasing an additional 186 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its holdings in Molson Coors Beverage by 1.8% in the 4th quarter. Linden Thomas Advisory Services LLC now owns 11,607 shares of the company’s stock valued at $710,000 after purchasing an additional 200 shares in the last quarter. Finally, Kentucky Retirement Systems boosted its holdings in Molson Coors Beverage by 1.5% in the 4th quarter. Kentucky Retirement Systems now owns 14,815 shares of the company’s stock valued at $907,000 after purchasing an additional 221 shares in the last quarter. Hedge funds and other 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.