Deutsche Bank Aktiengesellschaft Boosts Molson Coors Beverage (NYSE:TAP) Price Target to $65.00

Molson Coors Beverage (NYSE:TAP) had its target price upped by Deutsche Bank Aktiengesellschaft from $64.00 to $65.00 in a research note published on Wednesday morning, Benzinga reports. The brokerage currently has a hold rating on the stock.

A number of other research firms also recently commented on TAP. The Goldman Sachs Group upgraded Molson Coors Beverage from a neutral rating to a buy rating and boosted their target price for the stock from $66.00 to $75.00 in a research report on Tuesday, April 9th. Piper Sandler initiated coverage on Molson Coors Beverage in a research report on Friday, March 22nd. They issued a neutral rating and a $69.00 target price on the stock. TheStreet upgraded Molson Coors Beverage from a c rating to a b- rating in a research report on Tuesday, February 13th. Barclays upped their price objective on Molson Coors Beverage from $65.00 to $67.00 and gave the company an equal weight rating in a research report on Friday, April 12th. Finally, Citigroup upped their price objective on Molson Coors Beverage from $63.00 to $66.00 and gave the company a neutral rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of Hold and a consensus price target of $68.73.

Molson Coors Beverage Stock Performance

NYSE TAP opened at $64.23 on Wednesday. The firm has a market cap of $13.85 billion, a price-to-earnings ratio of 14.73, a price-to-earnings-growth ratio of 2.21 and a beta of 0.84. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.40. The business has a 50-day moving average price of $64.98 and a 200-day moving average price of $62.23. Molson Coors Beverage has a twelve month low of $55.67 and a twelve month high of $70.90.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Tuesday, February 13th. The company reported $1.19 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.07. The company had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $2.78 billion. Molson Coors Beverage had a return on equity of 8.89% and a net margin of 6.83%. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.30 earnings per share. As a group, equities research analysts predict that Molson Coors Beverage will post 5.67 EPS for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were paid a $0.44 dividend. The ex-dividend date was Thursday, February 29th. This represents a $1.76 annualized dividend and a yield of 2.74%. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.41. Molson Coors Beverage’s dividend payout ratio is 40.37%.

Insider Buying and Selling

In related news, CFO Tracey Joubert sold 2,771 shares of the stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $60.37, for a total value of $167,285.27. Following the transaction, the chief financial officer now owns 60,538 shares of the company’s stock, valued at $3,654,679.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.71% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of TAP. Kestra Private Wealth Services LLC raised its stake in Molson Coors Beverage by 19.5% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 11,415 shares of the company’s stock worth $726,000 after acquiring an additional 1,859 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Molson Coors Beverage by 6,418.1% during the 4th quarter. International Assets Investment Management LLC now owns 151,416 shares of the company’s stock valued at $9,268,000 after acquiring an additional 149,093 shares during the period. SkyView Investment Advisors LLC grew its position in shares of Molson Coors Beverage by 3.4% during the 3rd quarter. SkyView Investment Advisors LLC now owns 12,343 shares of the company’s stock valued at $785,000 after acquiring an additional 408 shares during the period. Metis Global Partners LLC grew its position in shares of Molson Coors Beverage by 24.2% during the 3rd quarter. Metis Global Partners LLC now owns 11,201 shares of the company’s stock valued at $712,000 after acquiring an additional 2,183 shares during the period. Finally, Savoir Faire Capital Management L.P. acquired a new stake in shares of Molson Coors Beverage during the 3rd quarter valued at about $3,245,000. Institutional investors 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.