Bernstein slashes price target on Molson Coors Beverage Company [TAP] – find out why.

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Molson Coors Beverage Company [NYSE: TAP] loss -0.28% or -0.14 points to close at $50.45 with a heavy trading volume of 1777205 shares. The company report on July 16, 2021 that Molson Coors Beverage Company Reinstates the Payment of a Regular Quarterly Dividend; Repays in full its $1 billion 2.1% Senior Notes due on July 15, 2021; Reaffirms 2021 Financial Outlook.

Molson Coors Beverage Company (NYSE: TAP, TAP.A) announced the company will reinstate its practice of paying regular quarterly dividends, that it has paid off in full the $1 billion 2.1% senior notes due on July 15, 2021 and again reaffirmed its full year 2021 guidance.

“Just over 18 months into our revitalization plan, we continue to execute and advance towards our long-term goal of sustainable topline growth,” said Molson Coors President and CEO Gavin Hattersley. “Because of the work done through our revitalization plan, we can reaffirm our full year guidance with confidence, while at the same time reinstating a dividend to enhance shareholder value and repaying $1 billion in bonds to continue deleveraging.”.

It opened the trading session at $50.50, the shares rose to $50.54 and dropped to $49.55, the range by which the price of stock traded the whole day. The daily chart for TAP points out that the company has recorded -0.39% loss over the past six months. However, it is still -57.12% lower than its most recent low trading price.

If we look at the average trading volume of 1.90M shares, TAP reached to a volume of 1777205 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about Molson Coors Beverage Company [TAP]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TAP shares is $57.56 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TAP stock is a recommendation set at 2.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Bernstein have made an estimate for Molson Coors Beverage Company shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on May 25, 2021. The new note on the price target was released on April 13, 2021, representing the official price target for Molson Coors Beverage Company stock. Previously, the target price had yet another drop from $45 to $43, while JP Morgan kept a Underweight rating on TAP stock. On January 04, 2021, analysts increased their price target for TAP shares from 36 to 57.

The Average True Range (ATR) for Molson Coors Beverage Company is set at 1.28, with the Price to Sales ratio for TAP stock in the period of the last 12 months amounting to 1.18. The Price to Book ratio for the last quarter was 0.87, with the Price to Cash per share for the same quarter was set at 2.42. Price to Free Cash Flow for TAP in the course of the last twelve months was 10.39 with Quick ratio for the last quarter at 0.50.

Trading performance analysis for TAP stock

Molson Coors Beverage Company [TAP] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.16. With this latest performance, TAP shares dropped by -8.14% in over the last four-week period, additionally sinking by -0.39% over the last 6 months – not to mention a rise of 40.92% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TAP stock in for the last two-week period is set at 30.24, with the RSI for the last a single of trading hit 27.18, and the three-weeks RSI is set at 34.63 for Molson Coors Beverage Company [TAP]. The present Moving Average for the last 50 days of trading for this stock 55.79, while it was recorded at 50.56 for the last single week of trading, and 48.99 for the last 200 days.

Molson Coors Beverage Company [TAP]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and Molson Coors Beverage Company [TAP] shares currently have an operating margin of +13.45 and a Gross Margin at +36.41. Molson Coors Beverage Company’s Net Margin is presently recorded at -9.83.

Return on Total Capital for TAP is now 5.92, given the latest momentum, and Return on Invested Capital for the company is -4.59. Return on Equity for this stock declined to -7.36, with Return on Assets sitting at -3.38. When it comes to the capital structure of this company, Molson Coors Beverage Company [TAP] has a Total Debt to Total Equity ratio set at 67.79. Additionally, TAP Total Debt to Total Capital is recorded at 40.40, with Total Debt to Total Assets ending up at 30.67. Long-Term Debt to Equity for the company is recorded at 59.16, with the Long-Term Debt to Total Capital now at 35.26.

Reflecting on the efficiency of the workforce at the company, Molson Coors Beverage Company [TAP] managed to generate an average of -$55,824 per employee. Receivables Turnover for the company is 12.81 with a Total Asset Turnover recorded at a value of 0.34.Molson Coors Beverage Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.70.

Molson Coors Beverage Company [TAP]: An earnings per share (EPS) analysis

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for TAP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Molson Coors Beverage Company go to 2.94%.

An analysis of insider ownership at Molson Coors Beverage Company [TAP]

There are presently around $9,012 million, or 92.20% of TAP stock, in the hands of institutional investors. The top three institutional holders of TAP stocks are: DODGE & COX with ownership of 31,280,792, which is approximately 5.72% of the company’s market cap and around 0.40% of the total institutional ownership; VANGUARD GROUP INC, holding 19,441,814 shares of the stock with an approximate value of $980.84 million in TAP stocks shares; and BLACKROCK INC., currently with $920.7 million in TAP stock with ownership of nearly 24.157% of the company’s market capitalization.

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Positions in Molson Coors Beverage Company stocks held by institutional investors increased at the end of July and at the time of the July reporting period, where 243 institutional holders increased their position in Molson Coors Beverage Company [NYSE:TAP] by around 20,079,338 shares. Additionally, 278 investors decreased positions by around 15,935,892 shares, while 73 investors held positions by with 142,608,130 shares. The mentioned changes placed institutional holdings at 178,623,360 shares, according to the latest SEC report filing. TAP stock had 72 new institutional investments in for a total of 3,152,598 shares, while 76 institutional investors sold positions of 3,113,257 shares during the same period.

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