Evercore ISI Cuts Molson Coors Beverage (NYSE:TAP) Price Target to $50.00

Molson Coors Beverage (NYSE:TAP) had its price target decreased by Evercore ISI from $53.00 to $50.00 in a research note released on Wednesday morning, MarketBeat Ratings reports. Evercore ISI currently has an outperform rating on the stock.

TAP has been the subject of several other research reports. JPMorgan Chase & Co. reduced their price objective on shares of Molson Coors Beverage from $62.00 to $53.00 and set a “neutral” rating for the company in a research note on Thursday, July 31st. Morgan Stanley reduced their price target on Molson Coors Beverage from $58.00 to $53.00 and set an “equal weight” rating for the company in a research report on Wednesday, August 6th. The Goldman Sachs Group decreased their price target on Molson Coors Beverage from $67.00 to $57.00 and set a “buy” rating for the company in a research note on Thursday, October 2nd. Wells Fargo & Company cut their price objective on Molson Coors Beverage from $55.00 to $53.00 and set an “overweight” rating on the stock in a research note on Wednesday. Finally, Citigroup reduced their target price on Molson Coors Beverage from $51.00 to $49.00 and set a “neutral” rating for the company in a report on Thursday, October 9th. Six research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $54.56.

Molson Coors Beverage Stock Up 4.9%

Shares of NYSE TAP traded up $2.18 during trading hours on Wednesday, hitting $46.27. The stock had a trading volume of 4,323,844 shares, compared to its average volume of 2,485,240. The firm’s 50-day moving average price is $46.47 and its two-hundred day moving average price is $50.07. Molson Coors Beverage has a 52 week low of $42.94 and a 52 week high of $64.66. The company has a market capitalization of $9.14 billion, a P/E ratio of 9.13, a P/E/G ratio of 1.60 and a beta of 0.65. 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 (NYSE:TAP) last issued its quarterly earnings data on Tuesday, November 4th. The company reported $1.67 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.05). The business had revenue of $2.97 billion for the quarter, compared to the consensus estimate 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. Analysts anticipate that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Insider Transactions at Molson Coors Beverage

In other Molson Coors Beverage news, Director David S. Coors purchased 2,245 shares of the company’s stock in a transaction on Wednesday, November 5th. The shares were bought at an average cost of $44.47 per share, with a total value of $99,835.15. Following the transaction, the director directly owned 30,586 shares in the company, valued at approximately $1,360,159.42. This represents a 7.92% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 2.71% of the stock is owned by company insiders.

Hedge Funds Weigh In On Molson Coors Beverage

Institutional investors and hedge funds have recently bought and sold shares of the stock. Principal Financial Group Inc. increased its stake in Molson Coors Beverage by 14.7% during the first quarter. Principal Financial Group Inc. now owns 238,178 shares of the company’s stock valued at $14,498,000 after acquiring an additional 30,463 shares during the period. Nuveen LLC bought a new stake in shares of Molson Coors Beverage during the first quarter valued at approximately $22,253,000. Jump Financial LLC increased its position in shares of Molson Coors Beverage by 205.4% during the first quarter. Jump Financial LLC now owns 24,307 shares of the company’s stock valued at $1,480,000 after purchasing an additional 16,349 shares during the period. Hsbc Holdings PLC raised its stake in shares of Molson Coors Beverage by 32.8% in the first quarter. Hsbc Holdings PLC now owns 466,666 shares of the company’s stock valued at $28,424,000 after purchasing an additional 115,186 shares in the last quarter. Finally, LPL Financial LLC lifted its position in Molson Coors Beverage by 2.3% in the first quarter. LPL Financial LLC now owns 734,173 shares of the company’s stock worth $44,689,000 after purchasing an additional 16,581 shares during the period. Institutional investors 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.