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

Molson Coors Beverage (NYSE:TAP - Get Free Report) had its price target hoisted by Deutsche Bank Aktiengesellschaft from $64.00 to $65.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a "hold" rating on the stock. Deutsche Bank Aktiengesellschaft's price target suggests a potential upside of 2.30% from the company's previous close.

Several other equities analysts also recently weighed in on the company. StockNews.com raised Molson Coors Beverage from a "hold" rating to a "buy" rating in a research note on Friday, April 12th. TheStreet raised Molson Coors Beverage from a "c" rating to a "b-" rating in a research report on Tuesday, February 13th. Citigroup raised their price target on Molson Coors Beverage from $63.00 to $66.00 and gave the stock a "neutral" rating in a research report on Tuesday. The Goldman Sachs Group raised Molson Coors Beverage from a "neutral" rating to a "buy" rating and raised their price target for the stock from $66.00 to $75.00 in a research report on Tuesday, April 9th. Finally, Barclays raised their price target on Molson Coors Beverage from $65.00 to $67.00 and gave the stock an "equal weight" rating in a research report on Friday, April 12th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Molson Coors Beverage currently has a consensus rating of "Hold" and a consensus target price of $68.73.

Molson Coors Beverage Price Performance

NYSE TAP traded up $0.28 during mid-day trading on Wednesday, hitting $63.54. The stock had a trading volume of 1,816,739 shares, compared to its average volume of 1,666,484. Molson Coors Beverage has a 52-week low of $55.67 and a 52-week high of $70.90. The company has a market cap of $13.71 billion, a price-to-earnings ratio of 14.57, a P/E/G ratio of 2.26 and a beta of 0.84. The company has a 50 day simple moving average of $64.82 and a 200 day simple moving average of $62.21. The company has a quick ratio of 0.50, a current ratio of 0.70 and a debt-to-equity ratio of 0.40.

Molson Coors Beverage (NYSE:TAP - Get Free Report) last released its quarterly earnings data on Tuesday, February 13th. The company reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.07. Molson Coors Beverage had a return on equity of 8.89% and a net margin of 6.83%. The firm had revenue of $2.79 billion during the quarter, compared to the consensus estimate of $2.78 billion. During the same period last year, the business posted $1.30 EPS. Molson Coors Beverage's quarterly revenue was up 6.1% on a year-over-year basis. Equities analysts forecast that Molson Coors Beverage will post 5.66 EPS for the current fiscal year.

Insider Activity at Molson Coors Beverage

In related news, CFO Tracey Joubert sold 2,771 shares of Molson Coors Beverage stock in a transaction 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 in the company, valued at $3,654,679.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.71% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Quarry LP acquired a new position in shares of Molson Coors Beverage during the second quarter worth about $25,000. Tennessee Valley Asset Management Partners acquired a new position in shares of Molson Coors Beverage during the fourth quarter worth about $29,000. Stone House Investment Management LLC acquired a new position in shares of Molson Coors Beverage during the third quarter worth about $32,000. Montag A & Associates Inc. acquired a new position in shares of Molson Coors Beverage during the fourth quarter worth about $31,000. Finally, Raleigh Capital Management Inc. lifted its stake in shares of Molson Coors Beverage by 2,087.5% during the fourth quarter. Raleigh Capital Management Inc. now owns 525 shares of the company's stock worth $32,000 after purchasing an additional 501 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.