Molson Coors Beverage (NYSE:TAP) PT Raised to $65.00

Molson Coors Beverage (NYSE:TAP) had its target price boosted by equities researchers at Deutsche Bank Aktiengesellschaft from $64.00 to $65.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage presently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s target price would suggest a potential upside of 1.75% from the company’s current price.

Several other equities analysts have also weighed in on TAP. The Goldman Sachs Group upgraded shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their target price for the company from $66.00 to $75.00 in a report on Tuesday, April 9th. Citigroup boosted their target price on shares of Molson Coors Beverage from $63.00 to $66.00 and gave the company a “neutral” rating in a report on Tuesday. Piper Sandler assumed coverage on shares of Molson Coors Beverage in a report on Friday, March 22nd. They issued a “neutral” rating and a $69.00 target price on the stock. Barclays boosted their target price on shares of Molson Coors Beverage from $65.00 to $67.00 and gave the company an “equal weight” rating in a report on Friday, April 12th. Finally, StockNews.com upgraded shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a report on Friday, April 12th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $68.73.

Molson Coors Beverage Stock Up 0.5 %

TAP stock opened at $63.88 on Wednesday. The stock has a market capitalization of $13.78 billion, a P/E ratio of 14.65, a P/E/G ratio of 2.21 and a beta of 0.84. The firm has a 50-day simple moving average of $64.90 and a 200-day simple moving average of $62.22. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.40. Molson Coors Beverage has a 52 week low of $55.67 and a 52 week high of $70.90.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.07. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.78 billion. Molson Coors Beverage had a net margin of 6.83% and a return on equity of 8.89%. Molson Coors Beverage’s quarterly revenue was up 6.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.30 earnings per share. Equities analysts forecast that Molson Coors Beverage will post 5.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Molson Coors Beverage news, CFO Tracey Joubert sold 2,771 shares of the stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $60.37, for a total value of $167,285.27. Following the sale, the chief financial officer now directly owns 60,538 shares of the company’s stock, valued at approximately $3,654,679.06. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.71% of the stock is owned by insiders.

Institutional Investors Weigh In On Molson Coors Beverage

A number of large investors have recently modified their holdings of TAP. Raymond James Financial Services Advisors Inc. increased its position in shares of Molson Coors Beverage by 25.9% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 23,269 shares of the company’s stock valued at $1,242,000 after purchasing an additional 4,792 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Molson Coors Beverage by 17.1% in the 1st quarter. American Century Companies Inc. now owns 18,462 shares of the company’s stock valued at $985,000 after buying an additional 2,700 shares in the last quarter. US Bancorp DE boosted its holdings in shares of Molson Coors Beverage by 45.7% in the 1st quarter. US Bancorp DE now owns 3,834 shares of the company’s stock valued at $205,000 after buying an additional 1,203 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Molson Coors Beverage by 4.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 16,654 shares of the company’s stock valued at $889,000 after buying an additional 720 shares in the last quarter. Finally, Natixis Advisors L.P. boosted its holdings in shares of Molson Coors Beverage by 26.3% in the 1st quarter. Natixis Advisors L.P. now owns 14,411 shares of the company’s stock valued at $769,000 after buying an additional 3,001 shares in the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

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.