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

Molson Coors Beverage (NYSE:TAP) had its price target raised by Barclays from $65.00 to $67.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Barclays‘s target price points to a potential upside of 0.99% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Piper Sandler started coverage on shares of Molson Coors Beverage in a research report on Friday, March 22nd. They set a “neutral” rating and a $69.00 price objective for the company. TheStreet raised shares of Molson Coors Beverage from a “c” rating to a “b-” rating in a research report on Tuesday, February 13th. The Goldman Sachs Group raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and upped their price objective for the company from $66.00 to $75.00 in a research report on Tuesday, April 9th. Finally, StockNews.com lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Monday, March 11th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, Molson Coors Beverage presently has an average rating of “Hold” and an average price target of $68.20.

Molson Coors Beverage Stock Down 2.2 %

Molson Coors Beverage stock opened at $66.34 on Friday. The firm has a market cap of $14.31 billion, a price-to-earnings ratio of 15.22, a P/E/G ratio of 2.37 and a beta of 0.84. 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 has a fifty-two week low of $54.17 and a fifty-two week high of $70.90. The firm has a fifty day moving average price of $64.64 and a two-hundred day moving average price of $62.19.

Molson Coors Beverage (NYSE:TAP) last released its earnings results on Tuesday, February 13th. The company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.07. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.78 billion. Molson Coors Beverage had a net margin of 6.83% and a return on equity of 8.89%. The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.30 EPS. As a group, analysts forecast that Molson Coors Beverage will post 5.66 earnings per share for the current year.

Insiders Place Their Bets

In other news, CFO Tracey Joubert sold 2,771 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $60.37, for a total transaction of $167,285.27. Following the transaction, the chief financial officer now directly owns 60,538 shares in the company, valued at $3,654,679.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 2.30% of the company’s stock.

Hedge Funds Weigh In On Molson Coors Beverage

A number of large investors have recently modified their holdings of TAP. Quarry LP bought a new position in Molson Coors Beverage in the second quarter valued at approximately $25,000. Tennessee Valley Asset Management Partners bought a new position in Molson Coors Beverage in the fourth quarter valued at approximately $29,000. Montag A & Associates Inc. bought a new position in Molson Coors Beverage in the fourth quarter valued at approximately $31,000. Salem Investment Counselors Inc. bought a new position in Molson Coors Beverage in the third quarter valued at approximately $32,000. Finally, Stone House Investment Management LLC bought a new position in Molson Coors Beverage in the third quarter valued at approximately $32,000. 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.