Molson Coors Beverage (NYSE:TAP) Upgraded by StockNews.com to Buy Rating

Molson Coors Beverage (NYSE:TAP - Get Free Report) was upgraded by stock analysts at StockNews.com from a "hold" rating to a "buy" rating in a research report issued on Thursday.

Several other equities analysts also recently weighed in on TAP. Wells Fargo & Company raised Molson Coors Beverage from an "underweight" rating to an "overweight" rating and raised their price objective for the company from $52.00 to $74.00 in a research note on Friday, November 8th. Barclays dropped their price objective on Molson Coors Beverage from $51.00 to $48.00 and set an "underweight" rating for the company in a research note on Friday, January 17th. Needham & Company LLC reaffirmed a "buy" rating and issued a $72.00 price objective on shares of Molson Coors Beverage in a research note on Wednesday. Citigroup raised Molson Coors Beverage from a "sell" rating to a "neutral" rating and raised their price objective for the company from $47.00 to $57.00 in a research note on Wednesday, February 5th. Finally, UBS Group lowered their target price on Molson Coors Beverage from $60.00 to $58.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $62.36.

Molson Coors Beverage Stock Performance

Shares of TAP stock traded up $5.07 during trading hours on Thursday, reaching $58.52. 6,160,733 shares of the company's stock were exchanged, compared to its average volume of 1,922,897. The company has a market cap of $12.06 billion, a P/E ratio of 13.18, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The company's 50 day moving average is $56.52 and its two-hundred day moving average is $56.26. 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 current ratio of 0.99 and a quick ratio of 0.74.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last issued its 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. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. Equities research analysts anticipate that Molson Coors Beverage will post 5.79 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in TAP. Ritholtz Wealth Management acquired a new position in Molson Coors Beverage in the third quarter valued at $223,000. Creative Planning boosted its holdings in Molson Coors Beverage by 14.7% in the third quarter. Creative Planning now owns 18,890 shares of the company's stock valued at $1,087,000 after acquiring an additional 2,418 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in Molson Coors Beverage by 16.1% in the third quarter. Vontobel Holding Ltd. now owns 124,768 shares of the company's stock valued at $7,177,000 after acquiring an additional 17,285 shares during the last quarter. Inlet Private Wealth LLC boosted its holdings in Molson Coors Beverage by 4.7% in the third quarter. Inlet Private Wealth LLC now owns 47,770 shares of the company's stock valued at $2,748,000 after acquiring an additional 2,150 shares during the last quarter. Finally, Randolph Co Inc acquired a new position in Molson Coors Beverage in the third quarter valued at $21,754,000. Institutional investors and hedge funds own 78.46% of the company's stock.

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.

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