Molson Coors Beverage (NYSE:TAP) Price Target Raised to $63.00 at Morgan Stanley

Molson Coors Beverage (NYSE:TAP) had its price target lifted by Morgan Stanley from $60.00 to $63.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential upside of 5.46% from the company’s previous close.

A number of other analysts also recently issued reports on the company. Wells Fargo & Company raised Molson Coors Beverage from an “underweight” rating to an “overweight” rating and lifted their price target for the stock from $52.00 to $74.00 in a report on Friday, November 8th. JPMorgan Chase & Co. decreased their price target on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. Hsbc Global Res downgraded Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. Bank of America raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their target price for the company from $57.00 to $70.00 in a report on Friday, December 6th. Finally, Citigroup raised Molson Coors Beverage from a “sell” rating to a “neutral” rating and boosted their target price for the company from $47.00 to $57.00 in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Molson Coors Beverage presently has an average rating of “Hold” and an average price target of $62.40.

Molson Coors Beverage Trading Up 2.0 %

NYSE:TAP opened at $59.74 on Friday. The firm has a market cap of $12.31 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The company has a current ratio of 0.99, a quick ratio of 0.74 and a debt-to-equity ratio of 0.46. The stock has a fifty day moving average price of $56.52 and a 200 day moving average price of $56.26. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly 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%. Sell-side analysts anticipate that Molson Coors Beverage will post 5.79 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Molson Coors Beverage

Several institutional investors and hedge funds have recently added to or reduced their stakes in TAP. Norges Bank acquired a new position in Molson Coors Beverage during the 4th quarter worth approximately $142,407,000. Thompson Siegel & Walmsley LLC purchased a new stake in shares of Molson Coors Beverage during the 3rd quarter worth approximately $48,202,000. State Street Corp boosted its stake in shares of Molson Coors Beverage by 8.4% during the 3rd quarter. State Street Corp now owns 8,792,196 shares of the company’s stock worth $505,727,000 after acquiring an additional 681,757 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of Molson Coors Beverage during the 4th quarter worth approximately $27,660,000. Finally, Bank of New York Mellon Corp boosted its stake in shares of Molson Coors Beverage by 14.0% during the 4th quarter. Bank of New York Mellon Corp now owns 3,535,604 shares of the company’s stock worth $202,661,000 after acquiring an additional 434,250 shares in the last quarter. Institutional investors and hedge funds 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.