Molson Coors Beverage Company (NYSE:TAP) currently has a daily average trading volume of 1.59M but it saw 1522313 shares traded on Wednesday. With a market cap of 10.73B USD, stock’s current market price of $52.06 came rising about 0.41 while comparing to the previous closing price of $51.85. In past 52 weeks, the stock remained buoying in the range of price level as high as $60.12 and as low as $46.69. In the recent trading on the day, stock has struck highest price mark of $52.10 while lowest mark touched by it was $50.415.
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Taking a look at 20-day trading activity of Molson Coors Beverage Company (TAP) gives us an average price of $52.90, while its current price level is -13.41% below from 52-week high level whereas it is 11.51% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $51.97 while that of 200 days or SMA-200 reads an average of $52.67. A closer look into the stock’s movement over the week reveals that its volatility is standing at 3.12% during that period while stretching the period over a month that decreases to 2.28%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 46.25 which implies that the stock is in neutral territory.
The company’s shares got several price updates from the analyst firms in past one month and most recent of them is from the Citigroup which initiated the stock as “Neutral” in its note to investors issued on February 17, 2023, recommending a price target of $55 for it. Cowen upgraded its recommendation for the stock as a “Outperform” from “Market Perform” on January 06, 2023 while assigning a price target range of $55-$60. Wells Fargo issued its recommendations for the stock as it downgraded the price target for the stock in the range of between $52 and $45.
Over the week, TAP’s stock price is moving -4.21% down while it is 0.17% when we observe its performance for the past one month. Year-to-date it is 1.05% up and over the past year, the stock is showing an upside performance of 2.46%.
The latest quarterly earnings report issued by the company was for quarter ended 9/29/2022, when its quarterly earnings per share (EPS) of $1.32 beaten by the consensus estimate of $1.36 for the same. The company is expected to be releasing its next quarterly report in 05/02/2023, for which analysts forecasted an EPS of $1.07 while estimate for next year EPS is $3.88. For TAP, analysts are forecasting an EPS-growth rate of -6.50% for current year and estimate for EPS growth in next year is 5.40%. In next quarter, company is expected to be making quarterly sales of $2.23 billion as analysts are expecting the sales for current fiscal year at $10.7 billion and seeing the company making $10.95 billion in sales next year. Moreover, analysts are in estimates of $2.62 billion for current-quarter revenue.
Currently, Molson Coors Beverage Company’s total number of outstanding shares is 216.60M with 11.33% of that held by the insiders while 86.98% of its common stock has been owned by the institutions. Company’s return on investment (ROI) stands at 0.20% and return on equity (ROE) at -1.30%. It has a 12.07 of forward P/E ratio. Stock’s beta reads 0.86. Stock has a price to book (P/B) ratio of 0.89 while price to sale or P/S ratio amounts to 1.00. Its return on asset (ROA) is -0.70% on average.
As per SEC documents, Dodge & Cox Stock Fund sought 18,195,425 of company’s common stock of worth $967.81 million as per recent closing price of the stock. Dodge & Cox Stock Fund is not the only institutional holder which restructured its stake in Molson Coors Beverage Company, as Vanguard Total Stock Market Index picked 5,523,570 shares of worth $293.8 million to bring its holdings to a total of 51119.0 shares. In the most recent quarter, Vanguard 500 Index Fund came rising its stake by 0.24% in the company and now holds 4.36 million or 2.18% of the company’s stake having worth of about 231.69 million.
