Molson Coors Beverage (NYSE:TAP) Given New $56.00 Price Target at Barclays

Molson Coors Beverage (NYSE:TAP) had its price target increased by equities researchers at Barclays from $48.00 to $56.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “underweight” rating on the stock. Barclays‘s target price would suggest a potential downside of 6.91% from the stock’s previous close.

Several other equities research analysts have also recently commented on TAP. Citigroup upgraded Molson Coors Beverage from a “sell” rating to a “neutral” rating and upped their price target for the stock from $47.00 to $57.00 in a research note on Wednesday, February 5th. BNP Paribas started coverage on shares of Molson Coors Beverage in a research report on Monday, November 25th. They set a “neutral” rating and a $64.00 price objective for the company. JPMorgan Chase & Co. lowered their target price on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating on the stock in a report on Thursday, January 30th. Wells Fargo & Company raised shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and increased their price target for the stock from $52.00 to $74.00 in a report on Friday, November 8th. Finally, UBS Group lifted their price objective on Molson Coors Beverage from $58.00 to $63.00 and gave the company a “neutral” rating in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $63.27.

Molson Coors Beverage Trading Down 0.8 %

Shares of Molson Coors Beverage stock opened at $60.16 on Tuesday. The company’s fifty day moving average is $56.43 and its two-hundred day moving average is $56.49. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.70 and a current ratio of 0.94. The company has a market capitalization of $12.39 billion, a P/E ratio of 11.24, a PEG ratio of 2.23 and a beta of 0.85.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.17 by $0.13. The firm had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.71 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. Analysts forecast that Molson Coors Beverage will post 6.11 earnings per share for the current year.

Institutional Investors Weigh In On Molson Coors Beverage

Large investors have recently added to or reduced their stakes in the business. State Street Corp raised its position in Molson Coors Beverage by 8.4% during the third quarter. State Street Corp now owns 8,792,196 shares of the company’s stock worth $505,727,000 after acquiring an additional 681,757 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Molson Coors Beverage by 1.3% during the 4th quarter. Geode Capital Management LLC now owns 4,291,048 shares of the company’s stock worth $245,308,000 after purchasing an additional 54,867 shares during the last quarter. Invesco Ltd. raised its position in shares of Molson Coors Beverage by 4.2% during the 4th quarter. Invesco Ltd. now owns 3,789,258 shares of the company’s stock worth $217,200,000 after purchasing an additional 152,622 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in Molson Coors Beverage by 12.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,753,491 shares of the company’s stock valued at $215,146,000 after buying an additional 422,515 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Molson Coors Beverage by 14.0% during the 4th quarter. Bank of New York Mellon Corp now owns 3,535,604 shares of the company’s stock valued at $202,661,000 after buying an additional 434,250 shares during the last quarter. 78.46% of the stock is 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.