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

Molson Coors Beverage Company [NYSE: TAP] stock went on an upward path that rose over 0.95% on Friday, amounting to a one-week price increase of more than 1.47%. The company report on November 10, 2022 that Molson Coors Beverage Company Announces Regular Quarterly Dividend.


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The Board of Directors of Molson Coors Beverage Company (NYSE: TAP, TAP.A) today declared a regular quarterly dividend on its Class A and Class B common stock of US$0.38 per share, payable December 15, 2022, to stockholders of record on December 2, 2022. The quarterly dividend is payable to holders of Class A and Class B common stock of Molson Coors Beverage Company.

In addition, the Board of Directors of Molson Coors Canada Inc. (TSX: TPX.B, TPX.A) today declared a quarterly dividend of approximately CDN$0.50 (the Canadian dollar equivalent of the dividend declared on Molson Coors Beverage Company stock), payable December 15, 2022, to its Class A and Class B exchangeable shareholders of record on December 2, 2022. The dividends declared in respect of the Class A and Class B exchangeable shares are eligible dividends for Canadian tax purposes.

Over the last 12 months, TAP stock rose by 13.91%. The one-year Molson Coors Beverage Company stock forecast points to a potential upside of 3.04. The average equity rating for TAP stock is currently 3.00, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $10.51 billion, with 216.80 million shares outstanding and 166.27 million shares in the current float. Compared to the average trading volume of 1.20M shares, TAP stock reached a trading volume of 536207 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $53.56 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 3.00. 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.

Deutsche Bank have made an estimate for Molson Coors Beverage Company shares, keeping their opinion on the stock as Sell, with their previous recommendation back on December 06, 2022. While these analysts kept the previous recommendation, Wedbush raised their target price to Neutral. The new note on the price target was released on October 11, 2022, representing the official price target for Molson Coors Beverage Company stock. Previously, the target price had yet another raise to $54, while Bryan Garnier analysts kept a Sell rating on TAP stock.

The Average True Range (ATR) for Molson Coors Beverage Company is set at 0.98, with the Price to Sales ratio for TAP stock in the period of the last 12 months amounting to 0.98. The Price to Book ratio for the last quarter was 0.85, with the Price to Cash per share for the same quarter was set at 2.60. Price to Free Cash Flow for TAP in the course of the last twelve months was 25.48 with Quick ratio for the last quarter at 0.50.

TAP Stock Performance Analysis:

Molson Coors Beverage Company [TAP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.47. With this latest performance, TAP shares dropped by -6.04% in over the last four-week period, additionally sinking by -6.23% over the last 6 months – not to mention a rise of 13.91% 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 46.96, with the RSI for the last a single of trading hit 45.95, and the three-weeks RSI is set at 48.50 for Molson Coors Beverage Company [TAP]. The present Moving Average for the last 50 days of trading for this stock 51.83, while it was recorded at 51.46 for the last single week of trading, and 53.08 for the last 200 days.

Insight into Molson Coors Beverage Company Fundamentals:

Molson Coors Beverage Company’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.50 and a Current Ratio set at 0.80.

TAP Stock EPS

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 1.61%.

Molson Coors Beverage Company [TAP] Insider Position Details

There are presently around $8,764 million, or 87.20% of TAP stock, in the hands of institutional investors. The top three institutional holders of TAP stocks are: DODGE & COX with ownership of 27,799,136, which is approximately -4.473% of the company’s market cap and around 0.10% of the total institutional ownership; VANGUARD GROUP INC, holding 21,656,168 shares of the stock with an approximate value of $1.12 billion in TAP stocks shares; and BLACKROCK INC., currently with $803.93 million in TAP stock with ownership of nearly -4.16% of the company’s market capitalization.

281 institutional holders increased their position in Molson Coors Beverage Company [NYSE:TAP] by around 6,408,476 shares. Additionally, 285 investors decreased positions by around 11,412,096 shares, while 86 investors held positions by with 150,953,772 shares. The mentioned changes placed institutional holdings at 168,774,344 shares, according to the latest SEC report filing. TAP stock had 75 new institutional investments in for a total of 1,517,985 shares, while 65 institutional investors sold positions of 2,559,770 shares during the same period.

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