JPMorgan Chase & Co. Initiates Coverage on Molson Coors Beverage (NYSE:TAP)

Equities research analysts at JPMorgan Chase & Co. began coverage on shares of Molson Coors Beverage (NYSE:TAP) in a report released on Wednesday, Marketbeat reports. The brokerage set a “neutral” rating and a $49.00 price target on the stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 11.24% from the stock’s previous close.

TAP has been the topic of several other research reports. Wells Fargo & Company decreased their price target on Molson Coors Beverage from $55.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday. Citigroup lowered their target price on Molson Coors Beverage from $51.00 to $49.00 and set a “neutral” rating on the stock in a report on Thursday, October 9th. Roth Capital restated a “buy” rating and issued a $65.00 price target (down previously from $67.00) on shares of Molson Coors Beverage in a research report on Wednesday. UBS Group decreased their price objective on shares of Molson Coors Beverage from $52.00 to $49.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 8th. Finally, Morgan Stanley dropped their target price on shares of Molson Coors Beverage from $58.00 to $53.00 and set an “equal weight” rating for the company in a report on Wednesday, August 6th. Six equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $54.56.

Molson Coors Beverage Stock Down 2.5%

Shares of Molson Coors Beverage stock opened at $44.05 on Wednesday. The company has a market cap of $8.71 billion, a P/E ratio of 8.69, a PEG ratio of 1.60 and a beta of 0.65. The firm has a fifty day moving average of $46.56 and a two-hundred day moving average of $50.16. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.67 and a current ratio of 0.95. Molson Coors Beverage has a one year low of $42.94 and a one year high of $64.66.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Tuesday, November 4th. The company reported $1.67 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.05). The business had revenue of $2.97 billion during the quarter, compared to analysts’ expectations of $3.02 billion. Molson Coors Beverage had a net margin of 7.81% and a return on equity of 8.61%. Molson Coors Beverage has set its FY 2025 guidance at 5.360-5.360 EPS. On average, analysts forecast that Molson Coors Beverage will post 6.35 earnings per share for the current year.

Insider Activity at Molson Coors Beverage

In other news, Director David S. Coors acquired 2,245 shares of Molson Coors Beverage stock in a transaction dated Wednesday, November 5th. The stock was bought at an average cost of $44.47 per share, with a total value of $99,835.15. Following the completion of the transaction, the director directly owned 30,586 shares of the company’s stock, valued at approximately $1,360,159.42. This represents a 7.92% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.71% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Molson Coors Beverage

A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of Molson Coors Beverage by 0.4% in the second quarter. Vanguard Group Inc. now owns 21,208,854 shares of the company’s stock valued at $1,019,934,000 after purchasing an additional 92,058 shares during the last quarter. Dodge & Cox grew its position in Molson Coors Beverage by 2.3% in the second quarter. Dodge & Cox now owns 14,396,195 shares of the company’s stock valued at $692,313,000 after purchasing an additional 327,885 shares in the last quarter. LSV Asset Management increased its stake in Molson Coors Beverage by 1.4% in the 1st quarter. LSV Asset Management now owns 6,369,498 shares of the company’s stock valued at $387,711,000 after buying an additional 86,601 shares during the last quarter. Clarkston Capital Partners LLC lifted its position in Molson Coors Beverage by 0.7% during the 1st quarter. Clarkston Capital Partners LLC now owns 4,553,212 shares of the company’s stock worth $277,154,000 after buying an additional 33,535 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Molson Coors Beverage by 20.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,503,879 shares of the company’s stock worth $274,144,000 after buying an additional 750,388 shares during the last quarter. Institutional investors and hedge funds own 78.46% of the company’s stock.

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.