Molson Coors Beverage (NYSE:TAP) Cut to Hold at StockNews.com

Molson Coors Beverage (NYSE:TAP) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research report issued on Friday.

A number of other research analysts have also issued reports on TAP. Hsbc Global Res lowered Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. Bank of America upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $57.00 to $70.00 in a research note on Friday, December 6th. UBS Group boosted their price objective on Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. Citigroup raised shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and raised their target price for the company from $47.00 to $57.00 in a report on Wednesday, February 5th. Finally, Wells Fargo & Company upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and lifted their price target for the stock from $52.00 to $74.00 in a research note on Friday, November 8th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $63.27.

Molson Coors Beverage Stock Up 0.5 %

Shares of TAP opened at $60.44 on Friday. The company’s 50-day simple moving average is $56.42 and its 200-day simple moving average is $56.52. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The stock has a market capitalization of $12.45 billion, a PE ratio of 11.30, a P/E/G ratio of 1.55 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.13. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. The company had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. Analysts forecast that Molson Coors Beverage will post 6.25 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Molson Coors Beverage

A number of hedge funds have recently modified their holdings of the business. Truvestments Capital LLC boosted its stake in Molson Coors Beverage by 51.4% during the 4th quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock worth $34,000 after purchasing an additional 202 shares during the period. Ashton Thomas Securities LLC acquired a new stake in shares of Molson Coors Beverage during the third quarter worth about $35,000. CoreCap Advisors LLC boosted its stake in shares of Molson Coors Beverage by 10,716.7% during the fourth quarter. CoreCap Advisors LLC now owns 649 shares of the company’s stock worth $37,000 after buying an additional 643 shares during the period. Quarry LP grew its holdings in shares of Molson Coors Beverage by 55.1% during the fourth quarter. Quarry LP now owns 715 shares of the company’s stock worth $41,000 after buying an additional 254 shares during the last quarter. Finally, Gladius Capital Management LP acquired a new position in Molson Coors Beverage in the 3rd quarter valued at about $42,000. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

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.