Molson Coors Beverage (NYSE:TAP) PT Raised to $67.00

Molson Coors Beverage (NYSE:TAP) had its price objective upped by equities researchers at Barclays from $65.00 to $67.00 in a report released on Friday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Barclays‘s price objective points to a potential upside of 0.99% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on TAP. The Goldman Sachs Group upgraded Molson Coors Beverage from a “neutral” rating to a “buy” rating and upped their price target for the stock from $66.00 to $75.00 in a report on Tuesday, April 9th. Piper Sandler began coverage on Molson Coors Beverage in a report on Friday, March 22nd. They issued a “neutral” rating and a $69.00 price target on the stock. StockNews.com cut Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Monday, March 11th. Finally, TheStreet upgraded Molson Coors Beverage from a “c” rating to a “b-” rating in a report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Molson Coors Beverage currently has an average rating of “Hold” and an average target price of $68.20.

Molson Coors Beverage Stock Down 2.2 %

TAP opened at $66.34 on Friday. The company has a market cap of $14.31 billion, a PE ratio of 15.22, a P/E/G ratio of 2.37 and a beta of 0.84. The business has a 50 day moving average price of $64.64 and a two-hundred day moving average price of $62.19. Molson Coors Beverage has a 52 week low of $54.17 and a 52 week high of $70.90. 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 (NYSE:TAP) last issued its earnings results on Tuesday, February 13th. The company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.07. The business had revenue of $2.79 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.30 EPS. As a group, research analysts anticipate that Molson Coors Beverage will post 5.66 EPS for the current year.

Insider Buying and Selling at Molson Coors Beverage

In other Molson Coors Beverage news, CFO Tracey Joubert sold 2,771 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $60.37, for a total value of $167,285.27. Following the transaction, the chief financial officer now directly owns 60,538 shares of the company’s stock, valued at $3,654,679.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 2.30% of the stock is currently owned by corporate insiders.

Institutional Trading of Molson Coors Beverage

Several large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Molson Coors Beverage by 6.1% during the first quarter. Vanguard Group Inc. now owns 21,329,879 shares of the company’s stock valued at $1,138,589,000 after acquiring an additional 1,235,013 shares in the last quarter. State Street Corp grew its stake in shares of Molson Coors Beverage by 1.7% during the first quarter. State Street Corp now owns 8,727,747 shares of the company’s stock valued at $465,887,000 after acquiring an additional 143,757 shares in the last quarter. Capital International Investors grew its stake in shares of Molson Coors Beverage by 1.0% during the first quarter. Capital International Investors now owns 4,721,084 shares of the company’s stock valued at $252,011,000 after acquiring an additional 49,044 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Molson Coors Beverage by 1.0% during the first quarter. Geode Capital Management LLC now owns 3,859,484 shares of the company’s stock valued at $198,998,000 after acquiring an additional 38,966 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in shares of Molson Coors Beverage by 76.0% during the third quarter. AQR Capital Management LLC now owns 3,475,114 shares of the company’s stock valued at $218,168,000 after acquiring an additional 1,500,269 shares in the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

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.