StockNews.com Lowers Molson Coors Beverage (NYSE:TAP) to Hold
research analysts have also issued reports on the company. StockNews.com downgraded Molson Coors Beverage from a "buy" rating to a "hold" rating in a Thursday research report. This follows similar reports from other research analysts.
In a report published on Thursday, the rating was changed from a "buy" to a "hold".
TAP has also been the subject of recent comments from other equity analysts. Citigroup began covering Molson Coors Beverage on Thursday, 16th February in a report. The stock was given a rating of 'neutral,' and the price target is $55.00. In a report published on Tuesday, Jefferies Financial Group increased their price target for Molson Coors Beverage by $74.00 up to $75.00. JPMorgan Chase & Co. upgraded Molson Coors Beverage's rating from 'underweight to neutral' and increased their price target from $59.00 up to $64.00 in a Wednesday, May 3, report. Credit Suisse Group increased their price target for Molson Coors Beverage to $49.00 in a report published on Wednesday, 22nd February. The company was also given an "underperform" rating. TheStreet upgraded Molson Coors Beverage's rating from 'c+ to 'b' in a report published on Tuesday, 2nd May. Four investment analysts gave the stock a sell recommendation, nine issued a "hold" rating and three assigned a "buy" rating. The stock rose $0.25 to $66.40 during the midday session on Thursday. The stock changed hands 2,359,117 times, as opposed to the average of 1,994,952. The company has a moving average for the last 50 days of $60.03, and a moving average for the past two hundred days of $54.91. The company has a $14.36 billion market capitalization, a P/E of -55.80 and a PEG of 3.51. It also has a beta value of 0.85. The debt-to equity ratio for the company is 0.48. Its quick ratio is 0.49, and its current ratio 0.77. Molson Coors Beverage's low for the past year is $46.69, and its high is $66.67.
The company released its last quarterly results on May 2nd. The company's earnings per share were $0.54, exceeding the consensus estimate by $0.26. Revenue for the quarter was $2.35 billion, which is higher than analysts' expectations. Molson Coors Beverage posted a return on equity (ROE) of 7.16 % and a net margin of 1.97 %. Revenue was up 5.9% from the same quarter of last year. In the same quarter last year, the company earned $0.29 per share. Analysts predict that Molson Coors Beverage, on average, will earn 4.4 EPS in the current fiscal period.
Insider Activities
Insider Geoffrey E. Molson, in related news, sold 1,840 of the company's shares during a transaction on Thursday, 25th May. The shares were purchased at an average of $60.62 for a value of $111 540.80. The insider owns 25,904 of the company's shares, worth $1,570.300.48. Insiders hold 2.30% the stock of the company.
Molson Coors Beverage Institutional Trading
Recently, several hedge funds and institutional investors made changes to the positions they hold in TAP. Norges Bank acquired a new stake of Molson Coors Beverage shares valued at $83,092,000 during the fourth quarter. Vanguard Group Inc. grew its stake in Molson Coors Beverage shares by 6.1% during the first quarter. Vanguard Group Inc. owns 21,329 879 shares valued at $1138,589,000, after adding 1,235 013 shares over the period. Dodge & Cox grew its holdings in Molson Coors Beverage shares by 3.8% during the first quarter. Dodge & Cox owns 28,120.054 shares valued at $1.453,244,000, after acquiring 1,032,150 additional shares. Liontrust Investment Partners LLP purchased a new stake in Molson Coors Beverage shares in the first quarter, valued at $32,391,000. Squarepoint Ops LLC also increased its holdings in Molson Coors Beverage shares by 471.1% during the first quarter. Squarepoint Ops LLC owns now 593,917 of the company stock valued at $32,694,000, after adding 489,926 additional shares during the period. Hedge funds, other institutional investors and pension funds own 76.24%.
Molson Coors Beverage
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Molson Coors Beverage Co. is a holding firm that produces and sells beer. The company operates in three segments: Americas and EMEA & APAC. The Americas segment includes the U.S. and Canada, as well as various countries from Latin America, the Caribbean and South America. The EMEA/APAC segment includes Bulgaria, Croatia (the Czech Republic), Hungary, Montenegro (the Republic of Ireland), Montenegro, Serbia, Romania, Serbia and the UK. It also includes other European countries and countries in the Middle East, Africa and Asia Pacific.
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