Molson Coors Beverage (NYSE:TAP) PT Raised to $45.00

Molson Coors Beverage (NYSE:TAP) had its target price lifted by investment analysts at Morgan Stanley from $41.00 to $45.00 in a report released on Thursday, Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential downside of 14.19% from the company’s previous close.

Other equities research analysts have also issued research reports about the stock. TheStreet upgraded shares of Molson Coors Beverage from a “c” rating to a “b-” rating in a report on Tuesday, December 1st. Zacks Investment Research upgraded shares of Molson Coors Beverage from a “hold” rating to a “buy” rating and set a $39.00 price target for the company in a report on Tuesday, November 3rd. Wells Fargo & Company assumed coverage on shares of Molson Coors Beverage in a report on Monday, December 7th. They issued an “equal weight” rating and a $51.00 price target for the company. Jefferies Financial Group upgraded shares of Molson Coors Beverage from a “hold” rating to a “buy” rating and boosted their price target for the company from $36.00 to $57.00 in a report on Monday, January 4th. Finally, BidaskClub lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a report on Wednesday, December 16th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $48.15.

Molson Coors Beverage stock opened at $52.44 on Thursday. The stock has a market cap of $21.28 billion, a price-to-earnings ratio of -70.41, a price-to-earnings-growth ratio of 1.58 and a beta of 0.97. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.50. Molson Coors Beverage has a 1 year low of $32.11 and a 1 year high of $61.94. The firm has a 50-day moving average of $46.80 and a two-hundred day moving average of $39.21.

Molson Coors Beverage (NYSE:TAP) last released its quarterly earnings data on Thursday, October 29th. The company reported $1.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.60. The company had revenue of $2.75 billion during the quarter, compared to analysts’ expectations of $2.66 billion. Molson Coors Beverage had a negative net margin of 1.33% and a positive return on equity of 7.18%. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.48 EPS. Research analysts expect that Molson Coors Beverage will post 3.67 earnings per share for the current year.

In related news, Director James A. Winnefeld, Jr. acquired 1,000 shares of Molson Coors Beverage stock in a transaction on Wednesday, November 4th. The stock was bought at an average cost of $36.90 per share, for a total transaction of $36,900.00. Also, Chairman Andrew Thomas Molson sold 3,238 shares of the company’s stock in a transaction on Tuesday, November 24th. The stock was sold at an average price of $47.12, for a total transaction of $152,574.56. Following the transaction, the chairman now owns 10,740 shares of the company’s stock, valued at $506,068.80. The disclosure for this sale can be found here. Corporate insiders own 2.43% of the company’s stock.

A number of large investors have recently bought and sold shares of TAP. Arrowstreet Capital Limited Partnership raised its position in Molson Coors Beverage by 177.8% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,722,123 shares of the company’s stock worth $57,794,000 after acquiring an additional 1,102,297 shares during the period. Wedge Capital Management L L P NC acquired a new stake in shares of Molson Coors Beverage in the third quarter valued at about $25,112,000. Charles Schwab Investment Management Inc. raised its position in shares of Molson Coors Beverage by 34.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,733,925 shares of the company’s stock valued at $58,191,000 after buying an additional 441,736 shares during the last quarter. Wilsey Asset Management Inc. acquired a new stake in shares of Molson Coors Beverage in the third quarter valued at about $10,557,000. Finally, BlackRock Inc. raised its position in shares of Molson Coors Beverage by 2.0% in the third quarter. BlackRock Inc. now owns 14,079,890 shares of the company’s stock valued at $472,520,000 after buying an additional 280,508 shares during the last quarter. Institutional investors own 74.19% of the company’s stock.

About Molson Coors Beverage

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products in the United States, Canada, Europe, and internationally. The company sells various products under the Blue Moon, Coors Banquet, Coors Light, Miller Genuine Draft, Miller Lite, Hamm's, Icehouse, Keystone, Mickey's, Miller64, Miller High Life, Milwaukee's Best, Olde English, Steel Reserve, Hop Valley, Leinenkugel's, Peroni Nastro Azurro, Pilsner Urquell, Revolver, Saint Archer, Sol, Terrapin, Crispin, Smith & Forge, Arnold Palmer Spiked, Cape Line, Henry's Hard, Redd's, and Steel Reserve Alloy Series brands.

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Analyst Recommendations for Molson Coors Beverage (NYSE:TAP)

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