Molson Coors Beverage (NYSE:TAP) Price Target Increased to $65.00 by Analysts at Deutsche Bank Aktiengesellschaft

Molson Coors Beverage (NYSE:TAP) had its price objective hoisted by equities researchers at Deutsche Bank Aktiengesellschaft from $64.00 to $65.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s price objective would indicate a potential upside of 2.33% from the stock’s previous close.

A number of other equities research analysts have also recently commented on TAP. TheStreet raised Molson Coors Beverage from a “c” rating to a “b-” rating in a report on Tuesday, February 13th. The Goldman Sachs Group raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and raised their price target for the company from $66.00 to $75.00 in a report on Tuesday, April 9th. Barclays raised their price target on Molson Coors Beverage from $65.00 to $67.00 and gave the company an “equal weight” rating in a report on Friday, April 12th. Citigroup raised their price target on Molson Coors Beverage from $63.00 to $66.00 and gave the company a “neutral” rating in a report on Tuesday. Finally, Piper Sandler started coverage on Molson Coors Beverage in a report on Friday, March 22nd. They issued a “neutral” rating and a $69.00 target price on the stock. One research analyst has rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Molson Coors Beverage has a consensus rating of “Hold” and a consensus price target of $68.73.

Molson Coors Beverage Stock Performance

Molson Coors Beverage stock traded up $0.26 during trading on Wednesday, reaching $63.52. The company had a trading volume of 1,008,780 shares, compared to its average volume of 1,654,140. Molson Coors Beverage has a 52 week low of $55.67 and a 52 week high of $70.90. The firm’s 50-day simple moving average is $64.75 and its 200 day simple moving average is $62.20. The firm has a market capitalization of $13.70 billion, a price-to-earnings ratio of 14.59, a price-to-earnings-growth ratio of 2.26 and a beta of 0.84. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40.

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

Insider Buying and Selling at Molson Coors Beverage

In other Molson Coors Beverage 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 transaction of $167,285.27. Following the completion of the transaction, the chief financial officer now owns 60,538 shares in the company, valued at $3,654,679.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 2.71% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Quarry LP purchased a new position in shares of Molson Coors Beverage during the second quarter valued at approximately $25,000. Tennessee Valley Asset Management Partners purchased a new position in shares of Molson Coors Beverage during the fourth quarter valued at approximately $29,000. Stone House Investment Management LLC bought a new stake in shares of Molson Coors Beverage during the third quarter valued at approximately $32,000. Montag A & Associates Inc. bought a new stake in shares of Molson Coors Beverage during the fourth quarter valued at approximately $31,000. Finally, Raleigh Capital Management Inc. raised its stake in shares of Molson Coors Beverage by 2,087.5% during the fourth quarter. Raleigh Capital Management Inc. now owns 525 shares of the company’s stock valued at $32,000 after acquiring an additional 501 shares in the last quarter. Hedge funds and other institutional investors own 78.46% of the company’s stock.

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.