Molson Coors Beverage (NYSE:TAP) Upgraded at StockNews.com

Molson Coors Beverage (NYSE:TAP) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Monday.

Several other equities analysts have also weighed in on the stock. Wells Fargo & Company upgraded shares of Molson Coors Beverage from an “underweight” rating to an “overweight” rating and raised their price objective for the company from $52.00 to $74.00 in a research report on Friday, November 8th. Hsbc Global Res lowered shares of Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a research report on Friday, November 8th. Needham & Company LLC assumed coverage on Molson Coors Beverage in a research report on Friday, December 6th. They set a “buy” rating and a $72.00 price objective for the company. Barclays raised their price objective on Molson Coors Beverage from $49.00 to $51.00 and gave the stock an “underweight” rating in a research note on Monday, November 11th. Finally, Bank of America raised Molson Coors Beverage from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $57.00 to $70.00 in a research report on Friday, December 6th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $62.00.

Molson Coors Beverage Price Performance

TAP traded up $1.38 during trading on Monday, reaching $53.82. The stock had a trading volume of 2,067,099 shares, compared to its average volume of 1,947,800. The stock has a 50 day moving average of $59.33 and a two-hundred day moving average of $55.82. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $11.09 billion, a price-to-earnings ratio of 12.12, a price-to-earnings-growth ratio of 2.38 and a beta of 0.86. Molson Coors Beverage has a 1-year low of $49.19 and a 1-year high of $69.18.

Molson Coors Beverage (NYSE:TAP) last posted its quarterly earnings data on Thursday, November 7th. The company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.13. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The company had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the previous year, the business earned $1.92 EPS. The company’s quarterly revenue was down 7.8% compared to the same quarter last year. As a group, equities analysts anticipate that Molson Coors Beverage will post 5.78 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the stock. Clark Estates Inc. NY increased its position in shares of Molson Coors Beverage by 18.1% during the third quarter. Clark Estates Inc. NY now owns 60,000 shares of the company’s stock valued at $3,451,000 after purchasing an additional 9,200 shares during the period. Qsemble Capital Management LP lifted its position in shares of Molson Coors Beverage by 23.5% during the 3rd quarter. Qsemble Capital Management LP now owns 48,474 shares of the company’s stock worth $2,788,000 after buying an additional 9,234 shares during the period. Principal Financial Group Inc. boosted its stake in Molson Coors Beverage by 4.7% in the 3rd quarter. Principal Financial Group Inc. now owns 211,812 shares of the company’s stock valued at $12,183,000 after buying an additional 9,510 shares in the last quarter. 1832 Asset Management L.P. bought a new stake in shares of Molson Coors Beverage in the 2nd quarter worth about $1,237,000. Finally, FMR LLC lifted its holdings in Molson Coors Beverage by 23.2% during the 3rd quarter. FMR LLC now owns 716,311 shares of the company’s stock valued at $41,202,000 after purchasing an additional 134,689 shares during the last quarter. Institutional investors and hedge funds 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.