The Goldman Sachs Group Upgrades Molson Coors Beverage (NYSE:TAP) to Buy

Molson Coors Beverage (NYSE:TAP) was upgraded by The Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research report issued on Tuesday, Benzinga reports. The firm presently has a $75.00 price objective on the stock, up from their previous price objective of $66.00. The Goldman Sachs Group’s target price indicates a potential upside of 12.56% from the company’s current price.

Other research analysts also recently issued research reports about the company. TheStreet upgraded Molson Coors Beverage from a “c” rating to a “b-” rating in a report on Tuesday, February 13th. StockNews.com cut Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. Piper Sandler assumed coverage on Molson Coors Beverage in a research note on Friday, March 22nd. They issued a “neutral” rating and a $69.00 price objective on the stock. Finally, Barclays increased their price target on Molson Coors Beverage from $64.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Thursday, February 15th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $68.07.

Molson Coors Beverage Stock Down 1.1 %

TAP opened at $66.63 on Tuesday. Molson Coors Beverage has a 12 month low of $51.90 and a 12 month high of $70.90. The stock has a market cap of $14.37 billion, a P/E ratio of 15.28, a P/E/G ratio of 2.35 and a beta of 0.84. The stock’s 50 day moving average price is $64.25 and its 200 day moving average price is $62.06. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.70 and a quick ratio of 0.50.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Tuesday, February 13th. The company reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.07. The business had revenue of $2.79 billion during the quarter, compared to analyst estimates 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 was up 6.1% compared to the same quarter last year. During the same period last year, the company posted $1.30 EPS. As a group, research analysts predict that Molson Coors Beverage will post 5.66 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Tracey Joubert sold 2,771 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief financial officer now directly owns 60,538 shares in the company, valued at $3,654,679.06. The sale was disclosed in a filing with the SEC, which is available at this link. Company insiders own 2.41% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Belpointe Asset Management LLC increased its holdings in Molson Coors Beverage by 12.7% in the first quarter. Belpointe Asset Management LLC now owns 1,521 shares of the company’s stock valued at $79,000 after purchasing an additional 171 shares during the period. Kestra Private Wealth Services LLC raised its position in Molson Coors Beverage by 1.5% in the 4th quarter. Kestra Private Wealth Services LLC now owns 11,589 shares of the company’s stock valued at $709,000 after buying an additional 174 shares during the last quarter. Quent Capital LLC raised its position in Molson Coors Beverage by 13.4% in the 3rd quarter. Quent Capital LLC now owns 1,487 shares of the company’s stock valued at $95,000 after buying an additional 176 shares during the last quarter. IMPACTfolio LLC grew its stake in Molson Coors Beverage by 4.6% in the 4th quarter. IMPACTfolio LLC now owns 4,027 shares of the company’s stock valued at $246,000 after purchasing an additional 176 shares during the period. Finally, Syntax Advisors LLC grew its stake in Molson Coors Beverage by 5.0% in the 3rd quarter. Syntax Advisors LLC now owns 3,866 shares of the company’s stock valued at $246,000 after purchasing an additional 185 shares during the period. 78.46% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Beverage Company Profile

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.