The stock of Molson Coors Beverage Company (NYSE:TAP) last traded at $66.75, up 1.38% from the previous session.
Data from the available sources indicates that Molson Coors Beverage Company (NYSE:TAP) is covered by 18 analysts. The consensus rating among analysts is ‘Hold’. As we calculate the median target price by taking the range between a high of $75.00 and a low of $58.00, we find $69.00. Given the previous closing price of $65.84, this indicates a potential upside of 4.8 percent. TAP stock price is now 5.00% away from the 50-day moving average and 22.32% away from the 200-day moving average. The market capitalization of the company currently stands at $13.56B.
In total, 11 analysts have assigned it a hold rating, and 5 have given it a buy rating. Brokers who have rated the stock have averaged $67.40 as their price target over the next twelve months.
With the price target enhanced from $54 to $68, BofA Securities Upgraded its rating from Underperform to Neutral for Molson Coors Beverage Company (NYSE: TAP).
In other news, Molson Geoffrey E., Board Chair sold 1,840 shares of the company’s stock on May 25. The stock was sold for $111,541 at an average price of $60.62. Upon completion of the transaction, the Board Chair now directly owns 25,904 shares in the company, valued at $1.73 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Aug 03, Director Winnefeld James A Jr bought 200 shares of the business’s stock. A total of $10,690 was incurred on buying the stock at an average price of $53.45. This leaves the insider owning 13,226 shares of the company worth $0.88 million. Insiders disposed of 29,947 shares of company stock worth roughly $2.0 million over the past 1 year. A total of 0.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in TAP stock. A new stake in Molson Coors Beverage Company shares was purchased by LIONTRUST INVESTMENT PARTNERS LLP during the first quarter worth $41,748,000. WORLDQUANT MILLENNIUM ADVISORS LLC invested $24,766,000 in shares of TAP during the first quarter. In the first quarter, TWO SIGMA INVESTMENTS, LP acquired a new stake in Molson Coors Beverage Company valued at approximately $19,759,000. JANE STREET GROUP, LLC acquired a new stake in TAP for approximately $10,890,000. CENTRE ASSET MANAGEMENT, LLC purchased a new stake in TAP valued at around $10,566,000 in the second quarter. In total, there are 870 active investors with 87.20% ownership of the company’s stock.
With an opening price of $65.64 on Monday morning, Molson Coors Beverage Company (NYSE: TAP) set off the trading day. During the past 12 months, Molson Coors Beverage Company has had a low of $46.69 and a high of $68.13. As of last week, the company has a debt-to-equity ratio of 0.52, a current ratio of 0.80, and a quick ratio of 0.50. The fifty day moving average price for TAP is $63.75 and a two-hundred day moving average price translates $54.65 for the stock.
The latest earnings results from Molson Coors Beverage Company (NYSE: TAP) was released for Mar, 2023. According to the Beverages – Brewers Company, earnings per share came in at $0.54, beating analysts’ expectations of $0.26 by 0.28. This compares to $0.63 EPS in the same period last year. The net profit margin was -2.30% and return on equity was -2.00% for TAP. The company reported revenue of $2.35 billion for the quarter, compared to $2.21 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 5.95 percent. For the current quarter, analysts expect TAP to generate $3.25B in revenue.
Moreover, the firm recently paid out its quarterly dividend on 06/15/2023. Investors who held shares on 06/02/2023 were paid a $0.41 dividend. On an annualized basis, this represents a $1.64 dividend and a 2.46% percent yield. There was an ex-dividend date of 06/01/2023 for this dividend.
Molson Coors Beverage Company(TAP) 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, and ready to drink beverages. It provides its products under Aspall Cider, Blue Moon, Coors Original, Hop Valley brands, Leinenkugel’s, Miller Genuine Draft, Molson Ultra, Sharp’s, Staropramen, and Vizzy Hard Seltzer above premier brands; Bergenbier, Borsodi, Carling, Coors Banquet, Coors Light, Jelen, Kamenitza, Miller Lite, Molson Canadian Lager, Molson Dry, Molson Export, and Niksicko, Ozujsko under the premium brands; and Branik, Icehouse, Keystone, Miller High Life, Milwaukee’s Best, and Steel Reserve under the economy brands. The company was formerly known as Molson Coors Brewing Company and changed its name to Molson Coors Beverage Company in January 2020. Molson Coors Beverage Company was founded in 1774 and is headquartered in Golden, Colorado.
