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

Molson Coors Beverage (NYSE:TAP - Get Free Report) had its price target raised by analysts at Barclays from $48.00 to $56.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has an "underweight" rating on the stock. Barclays's price objective would suggest a potential downside of 7.12% from the stock's previous close.

Other research analysts have also issued research reports about the stock. BNP Paribas started coverage on shares of Molson Coors Beverage in a report on Monday, November 25th. They issued a "neutral" rating and a $64.00 price objective for the company. JPMorgan Chase & Co. lowered their price objective on shares of Molson Coors Beverage from $59.00 to $58.00 and set a "neutral" rating for the company in a research note on Thursday, January 30th. UBS Group lifted their price target on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the company a "neutral" rating in a research report on Friday, February 14th. Bank of America raised shares of Molson Coors Beverage from a "neutral" rating to a "buy" rating and lifted their price objective for the stock from $57.00 to $70.00 in a report on Friday, December 6th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $72.00 price objective on shares of Molson Coors Beverage in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $63.27.

Molson Coors Beverage Stock Performance

NYSE TAP traded down $0.11 on Tuesday, hitting $60.29. 2,169,287 shares of the stock were exchanged, compared to its average volume of 2,076,036. The company has a market capitalization of $12.42 billion, a PE ratio of 11.27, a P/E/G ratio of 1.52 and a beta of 0.85. The business's fifty day moving average is $56.41 and its 200 day moving average is $56.58. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings results on Thursday, February 13th. The company reported $1.30 EPS for the quarter, beating the consensus estimate of $1.17 by $0.13. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.71 billion. Molson Coors Beverage had a net margin of 8.17% and a return on equity of 9.34%. Research analysts anticipate that Molson Coors Beverage will post 6.35 EPS for the current fiscal year.

Hedge Funds Weigh In On Molson Coors Beverage

A number of institutional investors and hedge funds have recently modified their holdings of TAP. State Street Corp boosted its holdings in Molson Coors Beverage by 8.4% during the 3rd quarter. State Street Corp now owns 8,792,196 shares of the company's stock valued at $505,727,000 after acquiring an additional 681,757 shares during the period. Geode Capital Management LLC raised its position in shares of Molson Coors Beverage by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 4,291,048 shares of the company's stock worth $245,308,000 after acquiring an additional 54,867 shares in the last quarter. Invesco Ltd. raised its position in shares of Molson Coors Beverage by 4.2% in the 4th quarter. Invesco Ltd. now owns 3,789,258 shares of the company's stock worth $217,200,000 after acquiring an additional 152,622 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Molson Coors Beverage by 12.7% in the fourth 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 raised its stake in Molson Coors Beverage by 14.0% in the fourth 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. 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.