Citigroup Increases Molson Coors Beverage (NYSE:TAP) Price Target to $66.00

Molson Coors Beverage (NYSE:TAP) had its target price lifted by equities researchers at Citigroup from $63.00 to $66.00 in a note issued to investors on Tuesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Citigroup’s price target points to a potential upside of 3.87% from the stock’s previous close.

TAP has been the topic of a number of other reports. The Goldman Sachs Group raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their target price for the company from $66.00 to $75.00 in a research report on Tuesday, April 9th. Piper Sandler began coverage on shares of Molson Coors Beverage in a research report on Friday, March 22nd. They issued a “neutral” rating and a $69.00 target price on the stock. StockNews.com upgraded shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. Barclays increased their price target on shares of Molson Coors Beverage from $65.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Friday, April 12th. Finally, TheStreet upgraded shares of Molson Coors Beverage from a “c” rating to a “b-” rating in a research note on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $68.73.

Molson Coors Beverage Trading Up 0.4 %

NYSE TAP opened at $63.54 on Tuesday. The company has a debt-to-equity ratio of 0.40, a current ratio of 0.70 and a quick ratio of 0.50. The firm’s fifty day moving average price is $64.82 and its 200 day moving average price is $62.21. The company has a market capitalization of $13.71 billion, a price-to-earnings ratio of 14.57, a price-to-earnings-growth ratio of 2.26 and a beta of 0.84. Molson Coors Beverage has a 12 month low of $55.67 and a 12 month high of $70.90.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Tuesday, February 13th. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.07. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.78 billion. Molson Coors Beverage had a net margin of 6.83% and a return on equity of 8.89%. The company’s revenue was up 6.1% on a year-over-year basis. During the same period last year, the firm posted $1.30 EPS. On average, sell-side analysts expect that Molson Coors Beverage will post 5.66 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Tracey Joubert sold 2,771 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $60.37, for a total transaction of $167,285.27. Following the sale, the chief financial officer now owns 60,538 shares of the company’s stock, valued at $3,654,679.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 2.71% of the stock is owned by insiders.

Institutional Trading of Molson Coors Beverage

Institutional investors have recently added to or reduced their stakes in the stock. Czech National Bank raised its position in Molson Coors Beverage by 0.5% during the first quarter. Czech National Bank now owns 32,580 shares of the company’s stock worth $2,191,000 after acquiring an additional 149 shares during the last quarter. Belpointe Asset Management LLC raised its position in Molson Coors Beverage by 12.7% during the first quarter. Belpointe Asset Management LLC now owns 1,521 shares of the company’s stock worth $79,000 after acquiring an additional 171 shares during the last quarter. Kestra Private Wealth Services LLC raised its position in Molson Coors Beverage by 1.5% during the fourth quarter. Kestra Private Wealth Services LLC now owns 11,589 shares of the company’s stock worth $709,000 after acquiring an additional 174 shares during the last quarter. IMPACTfolio LLC raised its position in Molson Coors Beverage by 4.6% during the fourth quarter. IMPACTfolio LLC now owns 4,027 shares of the company’s stock worth $246,000 after acquiring an additional 176 shares during the last quarter. Finally, Syntax Advisors LLC raised its position in Molson Coors Beverage by 5.0% during the third quarter. Syntax Advisors LLC now owns 3,866 shares of the company’s stock worth $246,000 after acquiring an additional 185 shares during the last quarter. Hedge funds and other 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.