Molson Coors Beverage (NYSE:TAP) Stock Price Expected to Rise, Barclays Analyst Says

Molson Coors Beverage (NYSE:TAP) had its price objective boosted by Barclays from $49.00 to $51.00 in a report released on Monday,Benzinga reports. They currently have an underweight rating on the stock.

TAP has been the subject of several other research reports. UBS Group increased their target price on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Jefferies Financial Group decreased their price objective on Molson Coors Beverage from $61.00 to $57.00 and set a “hold” rating on the stock in a report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft upped their target price on Molson Coors Beverage from $56.00 to $57.00 and gave the company a “hold” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price target on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Finally, Piper Sandler boosted their price target on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Molson Coors Beverage currently has a consensus rating of “Hold” and a consensus target price of $60.31.

Molson Coors Beverage Stock Performance

NYSE TAP traded down $0.37 during trading on Monday, hitting $60.13. The company’s stock had a trading volume of 61,938 shares, compared to its average volume of 1,904,012. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The firm has a market cap of $12.46 billion, a P/E ratio of 13.63, a price-to-earnings-growth ratio of 2.60 and a beta of 0.82. The firm has a 50 day moving average price of $55.70 and a 200 day moving average price of $54.25. The company has a quick ratio of 0.75, a current ratio of 0.99 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Thursday, November 7th. The company reported $1.80 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.13. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. The business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the previous year, the firm posted $1.92 earnings per share. Molson Coors Beverage’s revenue was down 7.8% compared to the same quarter last year. Equities research analysts forecast that Molson Coors Beverage will post 5.74 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Molson Coors Beverage

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. iA Global Asset Management Inc. grew its holdings in shares of Molson Coors Beverage by 117.5% during the first quarter. iA Global Asset Management Inc. now owns 31,583 shares of the company’s stock worth $2,124,000 after purchasing an additional 17,062 shares during the last quarter. Wakefield Asset Management LLLP grew its holdings in Molson Coors Beverage by 124.5% during the 2nd quarter. Wakefield Asset Management LLLP now owns 53,286 shares of the company’s stock worth $2,709,000 after acquiring an additional 29,552 shares during the last quarter. Manning & Napier Advisors LLC acquired a new stake in Molson Coors Beverage in the 2nd quarter valued at about $3,842,000. Mitsubishi UFJ Trust & Banking Corp increased its position in Molson Coors Beverage by 105.0% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 259,437 shares of the company’s stock valued at $17,459,000 after acquiring an additional 132,893 shares in the last quarter. Finally, Sei Investments Co. raised its stake in shares of Molson Coors Beverage by 36.2% in the first quarter. Sei Investments Co. now owns 197,541 shares of the company’s stock worth $13,285,000 after acquiring an additional 52,523 shares during the last quarter. 78.46% of the stock is currently owned by institutional investors and hedge funds.

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.