Molson Coors Beverage (NYSE:TAP) Now Covered by Piper Sandler

Equities research analysts at Piper Sandler started coverage on shares of Molson Coors Beverage (NYSE:TAPGet Free Report) in a note issued to investors on Friday, Marketbeat.com reports. The firm set a “neutral” rating and a $69.00 price target on the stock. Piper Sandler’s price target indicates a potential upside of 2.74% from the company’s previous close.

Several other analysts have also recently weighed in on the stock. Barclays increased their price target on shares of Molson Coors Beverage from $64.00 to $65.00 and gave the company an “equal weight” rating in a research note on Thursday, February 15th. TheStreet raised Molson Coors Beverage from a “c” rating to a “b-” rating in a research note on Tuesday, February 13th. StockNews.com downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Finally, HSBC assumed coverage on Molson Coors Beverage in a report on Thursday, November 30th. They set a “hold” rating and a $68.00 price target for the company. One investment analyst has rated the stock with a sell rating, thirteen have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $67.67.

Check Out Our Latest Research Report on TAP

Molson Coors Beverage Stock Performance

Shares of Molson Coors Beverage stock opened at $67.16 on Friday. The business’s 50 day moving average price is $63.23 and its 200 day moving average price is $61.80. The company has a market cap of $14.49 billion, a price-to-earnings ratio of 15.40, a PEG ratio of 2.34 and a beta of 0.83. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.70. Molson Coors Beverage has a one year low of $49.32 and a one year high of $70.90.

Molson Coors Beverage (NYSE:TAPGet Free Report) last issued its earnings results on Tuesday, February 13th. The company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.07. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.78 billion. Molson Coors Beverage had a return on equity of 8.89% and a net margin of 6.83%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period last year, the company earned $1.30 EPS. On average, research analysts predict that Molson Coors Beverage will post 5.66 EPS for the current year.

Insider Buying and Selling at Molson Coors Beverage

In related news, CFO Tracey Joubert sold 2,771 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $60.37, for a total value of $167,285.27. Following the transaction, the chief financial officer now owns 60,538 shares of the company’s stock, valued at $3,654,679.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in Molson Coors Beverage by 6.1% in the first quarter. Vanguard Group Inc. now owns 21,329,879 shares of the company’s stock valued at $1,138,589,000 after acquiring an additional 1,235,013 shares in the last quarter. State Street Corp boosted its position in shares of Molson Coors Beverage by 1.7% in the 1st quarter. State Street Corp now owns 8,727,747 shares of the company’s stock valued at $465,887,000 after purchasing an additional 143,757 shares during the period. Capital International Investors grew its stake in Molson Coors Beverage by 1.0% during the 1st quarter. Capital International Investors now owns 4,721,084 shares of the company’s stock worth $252,011,000 after buying an additional 49,044 shares during the last quarter. Geode Capital Management LLC increased its position in Molson Coors Beverage by 2.1% during the second quarter. Geode Capital Management LLC now owns 3,940,342 shares of the company’s stock worth $258,741,000 after buying an additional 80,858 shares during the period. Finally, AQR Capital Management LLC lifted its stake in Molson Coors Beverage by 76.0% in the third quarter. AQR Capital Management LLC now owns 3,475,114 shares of the company’s stock valued at $218,168,000 after buying an additional 1,500,269 shares during the last quarter. Institutional investors and hedge funds own 73.95% of the company’s stock.

Molson Coors Beverage Company Profile

(Get Free Report)

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.

Further Reading

Analyst Recommendations for Molson Coors Beverage (NYSE:TAP)

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