Molson Coors Beverage (NYSE:TAP) Stock Gets Price Target Boost from Barclays

Molson Coors Beverage (NYSE:TAP) had its target price boosted by research analysts at Barclays from $36.00 to $40.00 in a report issued on Monday, Benzinga reports. The firm currently has an “underweight” rating on the stock. Barclays‘s price target suggests a potential upside of 2.33% from the stock’s previous close.

Several other research firms have also recently weighed in on TAP. Citigroup lowered their price objective on shares of Molson Coors Beverage from $42.00 to $40.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 14th. Weiss Ratings reiterated a “sell (d)” rating on shares of Molson Coors Beverage in a research report on Monday, September 21st. Piper Sandler reduced their target price on Molson Coors Beverage from $44.00 to $43.00 and set a “neutral” rating on the stock in a research note on Friday. JPMorgan Chase & Co. cut Molson Coors Beverage from a “neutral” rating to an “underweight” rating and reduced their target price for the company from $41.00 to $37.00 in a research note on Monday. Finally, Wells Fargo & Company downgraded Molson Coors Beverage from an “equal weight” rating to a “strong sell” rating and lowered their price target for the company from $38.00 to $36.00 in a research report on Friday. Three equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and seven have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Reduce” and a consensus target price of $42.65.

Molson Coors Beverage Price Performance

Shares of Molson Coors Beverage stock traded down $1.24 on Monday, reaching $39.09. The stock had a trading volume of 768,136 shares, compared to its average volume of 3,362,619. The business’s 50 day moving average is $38.95 and its two-hundred day moving average is $42.31. The company has a current ratio of 0.86, a quick ratio of 0.60 and a debt-to-equity ratio of 0.54. Molson Coors Beverage has a 1 year low of $35.52 and a 1 year high of $54.82. The company has a market cap of $8.19 billion, a P/E ratio of 8.32 and a beta of 0.45.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Thursday, November 5th. The company reported $1.46 EPS for the quarter, beating the consensus estimate of $1.44 by $0.02. Molson Coors Beverage had a net margin of 6.95% and a return on equity of 8.92%. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.94 billion. During the same quarter in the previous year, the company earned $1.67 earnings per share. Molson Coors Beverage’s revenue for the quarter was down 1.6% on a year-over-year basis. As a group, research analysts anticipate that Molson Coors Beverage will post 4.48 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Nykredit A S bought a new stake in shares of Molson Coors Beverage in the 2nd quarter worth approximately $58,423,000. Dimensional Fund Advisors LP boosted its stake in shares of Molson Coors Beverage by 10.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 8,363,157 shares of the company’s stock valued at $360,117,000 after purchasing an additional 790,314 shares in the last quarter. Weiss Asset Management LP bought a new position in shares of Molson Coors Beverage during the 1st quarter valued at $20,350,000. Bank of New York Mellon Corp increased its holdings in shares of Molson Coors Beverage by 16.4% in the first quarter. Bank of New York Mellon Corp now owns 3,326,427 shares of the company’s stock worth $143,236,000 after buying an additional 469,607 shares during the period. Finally, Bank of America Corp DE lifted its position in Molson Coors Beverage by 36.5% in the first quarter. Bank of America Corp DE now owns 1,187,921 shares of the company’s stock valued at $51,152,000 after purchasing an additional 317,387 shares during the last quarter. 78.46% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Beverage Company Profile