UBS Group Lowers Molson Coors Beverage (NYSE:TAP) Price Target to $64.00

Molson Coors Beverage (NYSE:TAPGet Free Report) had its target price decreased by analysts at UBS Group from $70.00 to $64.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. UBS Group’s target price points to a potential upside of 10.73% from the company’s previous close.

A number of other equities analysts also recently weighed in on TAP. Evercore ISI decreased their target price on shares of Molson Coors Beverage from $70.00 to $68.00 and set an “outperform” rating for the company in a research note on Wednesday. Bank of America lowered their price objective on Molson Coors Beverage from $72.00 to $62.00 and set a “neutral” rating for the company in a research note on Wednesday. TheStreet raised Molson Coors Beverage from a “c” rating to a “b-” rating in a research note on Tuesday, February 13th. Piper Sandler started coverage on Molson Coors Beverage in a research report on Friday, March 22nd. They issued a “neutral” rating and a $69.00 price target for the company. Finally, The Goldman Sachs Group raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their price objective for the company from $66.00 to $75.00 in a research report on Tuesday, April 9th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Molson Coors Beverage presently has a consensus rating of “Hold” and a consensus target price of $65.53.

Check Out Our Latest Report on TAP

Molson Coors Beverage Trading Up 1.3 %

NYSE TAP opened at $57.80 on Wednesday. The firm has a market capitalization of $12.29 billion, a PE ratio of 11.56, a P/E/G ratio of 1.98 and a beta of 0.86. The stock’s 50 day moving average is $64.96 and its 200 day moving average is $62.36. Molson Coors Beverage has a twelve month low of $55.67 and a twelve month high of $70.90. The company has a quick ratio of 0.50, a current ratio of 0.69 and a debt-to-equity ratio of 0.40.

Molson Coors Beverage (NYSE:TAPGet Free Report) last announced its earnings results on Tuesday, April 30th. The company reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.74 by $0.21. The firm had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.50 billion. Molson Coors Beverage had a net margin of 7.66% and a return on equity of 9.47%. The company’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.54 EPS. Research analysts forecast that Molson Coors Beverage will post 5.66 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Tracey Joubert sold 2,771 shares of Molson Coors Beverage stock in a transaction 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 owns 60,538 shares in the company, valued at approximately $3,654,679.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.71% of the company’s stock.

Hedge Funds Weigh In On Molson Coors Beverage

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Asset Management One Co. Ltd. increased its holdings in Molson Coors Beverage by 1.2% in the 3rd quarter. Asset Management One Co. Ltd. now owns 74,853 shares of the company’s stock worth $4,760,000 after acquiring an additional 869 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its position in shares of Molson Coors Beverage by 5.4% during the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 76,766 shares of the company’s stock valued at $4,882,000 after purchasing an additional 3,900 shares during the period. Cambridge Investment Research Advisors Inc. lifted its stake in shares of Molson Coors Beverage by 7.2% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 33,897 shares of the company’s stock valued at $2,156,000 after buying an additional 2,279 shares in the last quarter. Kingswood Wealth Advisors LLC bought a new position in Molson Coors Beverage in the 3rd quarter worth $271,000. Finally, Robeco Institutional Asset Management B.V. increased its stake in Molson Coors Beverage by 112.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 531,694 shares of the company’s stock worth $33,810,000 after buying an additional 281,869 shares in the last quarter. 78.46% of the stock is currently owned by hedge funds and other institutional investors.

Molson Coors Beverage Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Molson Coors Beverage (NYSE:TAP)

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