Molson Coors Beverage (NYSE:TAP – Get Rating) had its price target upped by equities researchers at Deutsche Bank Aktiengesellschaft from $49.00 to $51.00 in a report issued on Wednesday, The Fly reports. Deutsche Bank Aktiengesellschaft’s price target would indicate a potential downside of 5.85% from the stock’s current price.
Other equities research analysts have also recently issued reports about the stock. Citigroup boosted their price target on shares of Molson Coors Beverage from $52.00 to $58.00 and gave the company a “buy” rating in a research report on Thursday, February 24th. StockNews.com began coverage on shares of Molson Coors Beverage in a report on Thursday, March 31st. They issued a “hold” rating for the company. TheStreet raised shares of Molson Coors Beverage from a “c” rating to a “b-” rating in a report on Wednesday, February 23rd. Finally, Morgan Stanley upped their target price on shares of Molson Coors Beverage from $49.00 to $51.00 and gave the company an “equal weight” rating in a report on Thursday, February 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $55.50.
Molson Coors Beverage stock opened at $54.17 on Wednesday. Molson Coors Beverage has a fifty-two week low of $42.46 and a fifty-two week high of $61.48. The company has a debt-to-equity ratio of 0.49, a quick ratio of 0.54 and a current ratio of 0.77. The firm has a 50 day moving average price of $52.42 and a 200 day moving average price of $48.88. The company has a market capitalization of $11.75 billion, a PE ratio of 11.70, a price-to-earnings-growth ratio of 2.92 and a beta of 0.93.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Norges Bank bought a new stake in Molson Coors Beverage in the 4th quarter valued at about $86,298,000. BlackRock Inc. grew its stake in shares of Molson Coors Beverage by 10.7% in the 3rd quarter. BlackRock Inc. now owns 17,283,383 shares of the company’s stock worth $801,603,000 after purchasing an additional 1,670,541 shares during the last quarter. Private Management Group Inc. acquired a new position in shares of Molson Coors Beverage in the 3rd quarter worth approximately $33,959,000. LSV Asset Management grew its stake in shares of Molson Coors Beverage by 9.4% in the 4th quarter. LSV Asset Management now owns 7,587,441 shares of the company’s stock worth $351,678,000 after purchasing an additional 652,709 shares during the last quarter. Finally, Jupiter Asset Management Ltd. grew its stake in shares of Molson Coors Beverage by 155.4% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 939,867 shares of the company’s stock worth $43,582,000 after purchasing an additional 571,867 shares during the last quarter. 79.94% of the stock is owned by institutional investors and hedge funds.
Molson Coors Beverage Company Profile (Get Rating)
Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, Middle East, Africa, and Asia Pacific. It offers flavored malt beverages, craft, and ready to drink beverages. The company was formerly known as Molson Coors Brewing Company and changed its name to Molson Coors Beverage Company in January 2020.
- Get a free copy of the StockNews.com research report on Molson Coors Beverage (TAP)
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