Molson Coors Beverage (NYSE:TAP - Get Free Report) was upgraded by research analysts at StockNews.com from a "hold" rating to a "buy" rating in a research note issued on Friday.
Other analysts have also issued reports about the stock. Piper Sandler assumed coverage on shares of Molson Coors Beverage in a research note on Friday, March 22nd. They set a "neutral" rating and a $69.00 target price for the company. Barclays upped their price objective on shares of Molson Coors Beverage from $65.00 to $67.00 and gave the stock an "equal weight" rating in a research note on Friday. TheStreet raised shares of Molson Coors Beverage from a "c" rating to a "b-" rating in a research note on Tuesday, February 13th. Finally, The Goldman Sachs Group upgraded shares of 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 report on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $68.20.
View Our Latest Stock Analysis on Molson Coors Beverage
Molson Coors Beverage Price Performance
NYSE:TAP traded down $1.47 during trading hours on Friday, hitting $66.34. 1,334,673 shares of the stock traded hands, compared to its average volume of 1,653,316. 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 stock has a 50 day moving average price of $64.64 and a 200 day moving average price of $62.19. The company has a market cap of $14.31 billion, a price-to-earnings ratio of 15.22, a price-to-earnings-growth ratio of 2.35 and a beta of 0.84. Molson Coors Beverage has a 1 year low of $54.17 and a 1 year high of $70.90.
Molson Coors Beverage (NYSE:TAP - Get Free Report) last posted its quarterly earnings data on Tuesday, February 13th. The company reported $1.19 EPS for the quarter, topping the consensus estimate of $1.12 by $0.07. The company had revenue of $2.79 billion during the quarter, compared to analyst estimates of $2.78 billion. Molson Coors Beverage had a net margin of 6.83% and a return on equity of 8.89%. Molson Coors Beverage's quarterly revenue was up 6.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.30 earnings per share. Sell-side analysts forecast that Molson Coors Beverage will post 5.66 EPS for the current fiscal year.
Insiders Place Their Bets
In other 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 transaction of $167,285.27. Following the transaction, the chief financial officer now owns 60,538 shares in the company, valued at approximately $3,654,679.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.30% of the company's stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Pacer Advisors Inc. boosted its holdings in Molson Coors Beverage by 9,466.3% during the 4th quarter. Pacer Advisors Inc. now owns 2,143,619 shares of the company's stock valued at $131,211,000 after acquiring an additional 2,121,211 shares during the period. Norges Bank purchased a new position in Molson Coors Beverage during the 4th quarter valued at about $127,337,000. AQR Capital Management LLC boosted its holdings in Molson Coors Beverage by 76.0% during the 3rd quarter. AQR Capital Management LLC now owns 3,475,114 shares of the company's stock valued at $218,168,000 after acquiring an additional 1,500,269 shares during the period. Vanguard Group Inc. boosted its holdings in Molson Coors Beverage by 6.1% during the 1st quarter. Vanguard Group Inc. now owns 21,329,879 shares of the company's stock valued at $1,138,589,000 after acquiring an additional 1,235,013 shares during the period. Finally, Morgan Stanley boosted its holdings in Molson Coors Beverage by 40.2% during the 3rd quarter. Morgan Stanley now owns 3,446,989 shares of the company's stock valued at $219,194,000 after acquiring an additional 988,864 shares during the period. Hedge funds and other institutional investors own 78.46% of the company's stock.
Molson Coors Beverage Company Profile
(
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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.
Further Reading
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