Barclays Increases Molson Coors Beverage (NYSE:TAP) Price Target to $51.00

Molson Coors Beverage (NYSE:TAP - Free Report) had its price target boosted by Barclays from $49.00 to $51.00 in a report issued on Monday,Benzinga reports. Barclays currently has an underweight rating on the stock.

Several other research analysts have also recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Molson Coors Beverage from $57.00 to $60.00 and gave the company a "neutral" rating in a research report on Friday, October 18th. Piper Sandler boosted their target price on shares of Molson Coors Beverage from $57.00 to $59.00 and gave the stock 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 for the company in a research report on Thursday, July 18th. Wells Fargo & Company upgraded Molson Coors Beverage from an "underweight" rating to an "overweight" rating and upped their price target for the stock from $52.00 to $74.00 in a report on Friday. Finally, UBS Group increased their price objective on shares of Molson Coors Beverage from $55.00 to $58.00 and gave the stock a "neutral" rating in a report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $60.31.

Molson Coors Beverage Trading Up 1.6 %

TAP stock traded up $0.94 during mid-day trading on Monday, reaching $60.50. The company had a trading volume of 2,361,152 shares, compared to its average volume of 1,912,461. Molson Coors Beverage has a 12 month low of $49.19 and a 12 month high of $69.18. The company has a market capitalization of $12.53 billion, a PE 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 of $55.70 and a 200 day moving average of $54.25. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.75.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings results on Thursday, November 7th. The company reported $1.80 earnings per share for the quarter, beating the consensus estimate of $1.67 by $0.13. The business had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.13 billion. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The company's quarterly revenue was down 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.92 EPS. On average, equities analysts predict that Molson Coors Beverage will post 5.74 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Molson Coors Beverage

Large investors have recently modified their holdings of the stock. Capital International Investors boosted its stake in Molson Coors Beverage by 10.7% in the 1st quarter. Capital International Investors now owns 9,692,916 shares of the company's stock worth $651,849,000 after purchasing an additional 939,142 shares during the period. Pacer Advisors Inc. grew its holdings in Molson Coors Beverage by 66.5% during the second quarter. Pacer Advisors Inc. now owns 5,397,223 shares of the company's stock valued at $274,341,000 after purchasing an additional 2,155,842 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Molson Coors Beverage by 20.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,579,811 shares of the company's stock valued at $131,130,000 after acquiring an additional 434,685 shares during the period. River Road Asset Management LLC increased its position in Molson Coors Beverage by 1.8% in the 3rd quarter. River Road Asset Management LLC now owns 1,677,241 shares of the company's stock worth $96,475,000 after buying an additional 29,315 shares during the period. Finally, Ilex Capital Partners UK LLP acquired a new position in shares of Molson Coors Beverage during the first quarter worth approximately $53,096,000. 78.46% of the stock is owned by institutional investors.

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.