Molson Coors Beverage (NYSE:TAP) Price Target Raised to $56.00

Molson Coors Beverage (NYSE:TAP) had its price target raised by equities research analysts at Barclays from $48.00 to $56.00 in a research note issued on Tuesday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Barclays‘s target price would indicate a potential downside of 7.17% from the stock’s previous close.

A number of other research analysts have also recently commented on the company. JPMorgan Chase & Co. decreased their price target on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday, January 30th. StockNews.com raised shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. UBS Group upped their price target on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a report on Friday. Morgan Stanley lifted their price objective on shares of Molson Coors Beverage from $60.00 to $63.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, Needham & Company LLC restated a “buy” rating and set a $72.00 price objective on shares of Molson Coors Beverage in a research report on Wednesday, February 12th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Molson Coors Beverage has a consensus rating of “Hold” and an average price target of $63.27.

Molson Coors Beverage Stock Up 3.0 %

TAP stock opened at $60.33 on Tuesday. Molson Coors Beverage has a fifty-two week low of $49.19 and a fifty-two week high of $69.18. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.74. The stock has a market capitalization of $12.43 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 2.07 and a beta of 0.85. The business’s fifty day moving average price is $56.48 and its two-hundred day moving average price is $56.41.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.13. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. On average, equities analysts anticipate that Molson Coors Beverage will post 5.79 earnings per share for the current year.

Institutional Investors Weigh In On Molson Coors Beverage

A number of institutional investors have recently made changes to their positions in the stock. State Street Corp lifted its stake in shares of Molson Coors Beverage by 8.4% in the third quarter. State Street Corp now owns 8,792,196 shares of the company’s stock worth $505,727,000 after acquiring an additional 681,757 shares during the period. Geode Capital Management LLC raised its holdings in Molson Coors Beverage by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 4,291,048 shares of the company’s stock worth $245,308,000 after purchasing an additional 54,867 shares during the last quarter. Invesco Ltd. lifted its position in shares of Molson Coors Beverage by 4.2% in the 4th quarter. Invesco Ltd. now owns 3,789,258 shares of the company’s stock worth $217,200,000 after purchasing an additional 152,622 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of Molson Coors Beverage by 12.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,753,491 shares of the company’s stock valued at $215,146,000 after purchasing an additional 422,515 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Molson Coors Beverage by 14.0% during the fourth quarter. Bank of New York Mellon Corp now owns 3,535,604 shares of the company’s stock worth $202,661,000 after buying an additional 434,250 shares during the period. Institutional investors own 78.46% of the company’s stock.

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.