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 boosted by equities researchers at Deutsche Bank Aktiengesellschaft from $64.00 to $65.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target points to a potential upside of 1.75% from the stock’s previous close.

Several other equities analysts also recently commented on the company. Barclays upped their target price on Molson Coors Beverage from $65.00 to $67.00 and gave the company an “equal weight” rating in a research report on Friday, April 12th. The Goldman Sachs Group raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their price target for the stock from $66.00 to $75.00 in a research report on Tuesday, April 9th. TheStreet raised Molson Coors Beverage from a “c” rating to a “b-” rating in a report on Tuesday, February 13th. Piper Sandler initiated 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. Finally, Citigroup increased their price target on Molson Coors Beverage from $63.00 to $66.00 and gave the company a “neutral” rating in a research note on Tuesday. One 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, Molson Coors Beverage has an average rating of “Hold” and a consensus target price of $68.73.

Molson Coors Beverage Stock Performance

Shares of Molson Coors Beverage stock opened at $63.88 on Wednesday. The firm has a market cap of $13.78 billion, a price-to-earnings ratio of 14.65, a price-to-earnings-growth ratio of 2.21 and a beta of 0.84. The stock’s 50-day moving average is $64.90 and its 200-day moving average is $62.22. Molson Coors Beverage has a one year low of $55.67 and a one year high of $70.90. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.70 and a quick ratio of 0.50.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Tuesday, February 13th. The company reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.07. The business had revenue of $2.79 billion for the quarter, compared to analyst estimates 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 was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.30 earnings per share. Equities analysts predict that Molson Coors Beverage will post 5.66 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Molson Coors Beverage news, CFO Tracey Joubert sold 2,771 shares of the stock in a transaction dated 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 sale, the chief financial officer now directly owns 60,538 shares in the company, valued at approximately $3,654,679.06. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 2.71% of the company’s stock.

Institutional Trading of Molson Coors Beverage

A number of large investors have recently bought and sold shares of TAP. Quarry LP acquired a new stake in Molson Coors Beverage during the 2nd quarter worth about $25,000. Tennessee Valley Asset Management Partners acquired a new stake in shares of Molson Coors Beverage in the 4th quarter valued at about $29,000. Montag A & Associates Inc. acquired a new stake in shares of Molson Coors Beverage in the 4th quarter valued at about $31,000. Stone House Investment Management LLC acquired a new stake in shares of Molson Coors Beverage in the 3rd quarter valued at about $32,000. Finally, Raleigh Capital Management Inc. grew its stake in shares of Molson Coors Beverage by 2,087.5% in the 4th quarter. Raleigh Capital Management Inc. now owns 525 shares of the company’s stock valued at $32,000 after buying an additional 501 shares during the period. 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.