Molson Coors Beverage (NYSE:TAP) Price Target Raised to $63.00

Molson Coors Beverage (NYSE:TAP) had its price target increased by UBS Group from $58.00 to $63.00 in a research note issued on Friday,Benzinga reports. The firm presently has a “neutral” rating on the stock. UBS Group’s target price points to a potential upside of 4.43% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the stock. Bank of America raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and upped their price target for the company from $57.00 to $70.00 in a research note on Friday, December 6th. Citigroup raised shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and increased their price target for the company from $47.00 to $57.00 in a report on Wednesday, February 5th. StockNews.com raised Molson Coors Beverage from a “hold” rating to a “buy” rating in a research note on Thursday. Morgan Stanley raised their price objective on Molson Coors Beverage from $60.00 to $63.00 and gave the company an “equal weight” rating in a research note on Friday. Finally, Hsbc Global Res lowered Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. One analyst has rated the stock with a sell rating, nine have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Molson Coors Beverage presently has an average rating of “Hold” and a consensus price target of $62.73.

Molson Coors Beverage Stock Up 3.0 %

TAP opened at $60.33 on Friday. The company has a market capitalization of $12.43 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The firm has a 50-day simple moving average of $56.50 and a two-hundred day simple moving average of $56.34. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TAP. Meiji Yasuda Life Insurance Co bought a new stake in Molson Coors Beverage during the 4th quarter valued at $378,000. DoubleLine ETF Adviser LP lifted its stake in Molson Coors Beverage by 1.7% in the fourth quarter. DoubleLine ETF Adviser LP now owns 10,297 shares of the company’s stock worth $590,000 after acquiring an additional 170 shares during the period. Freestone Grove Partners LP bought a new position in Molson Coors Beverage during the 4th quarter worth about $29,913,000. Randolph Co Inc increased its position in Molson Coors Beverage by 26.2% during the 4th quarter. Randolph Co Inc now owns 477,187 shares of the company’s stock valued at $27,352,000 after purchasing an additional 98,984 shares during the period. Finally, AdvisorShares Investments LLC raised its holdings in shares of Molson Coors Beverage by 195.0% in the 4th quarter. AdvisorShares Investments LLC now owns 13,798 shares of the company’s stock valued at $791,000 after purchasing an additional 9,120 shares in the last quarter. 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.