#8 - MillerCoors (NYSE:TAP)
MillerCoors (NYSE: TAP)– The U.S. arm of Molson Coors Brewing Company and the maker of Miller Lite and Coors Lite is lamenting the aluminum tariffs as they are considering price increases to offset the $40 million in profits they are forecast to lose in 2018. As the industry as a whole struggles with the rise in manufacturing costs, they are now looking to pass the cost on to consumers at a time when macro beer is already losing market share to craft beer and wine. The price increase might be as much as $0.50 per 12-pack which, according to CEO Gavin Hattersley, would "cause the beverage market to be hammered" in addition to potentially causing job losses in excess of 20,000. In their second-quarter earnings statement, the company cited an increase in both their top and bottom line performance despite a 2.4% decrease in worldwide brand volume.
About Molson Coors Beverage
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, spirits and energy, and ready to drink beverages.
More- Current Price
- $54.76
- Consensus Rating
- Hold
- Ratings Breakdown
- 5 Buy Ratings, 7 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $61.64 (12.6% Upside)
