Molson Coors Beverage (NYSE:TAP) Now Covered by Analysts at Berenberg Bank

Equities researchers at Berenberg Bank started coverage on shares of Molson Coors Beverage (NYSE:TAP) in a report issued on Wednesday,Briefing.com Automated Import reports. The firm set a “buy” rating and a $86.90 price target on the stock. Berenberg Bank’s target price would indicate a potential upside of 41.07% from the stock’s current price.

TAP has been the subject of several other reports. Barclays reduced their target price on Molson Coors Beverage from $62.00 to $61.00 and set an “equal weight” rating for the company in a report on Thursday, March 27th. UBS Group lifted their target price on shares of Molson Coors Beverage from $58.00 to $63.00 and gave the stock a “neutral” rating in a report on Friday, February 14th. Citigroup upgraded shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and upped their price target for the company from $47.00 to $57.00 in a report on Wednesday, February 5th. StockNews.com downgraded Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. decreased their target price on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Eleven analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $65.06.

Molson Coors Beverage Price Performance

NYSE TAP opened at $61.60 on Wednesday. The company has a 50 day moving average price of $58.33 and a two-hundred day moving average price of $57.81. Molson Coors Beverage has a 12-month low of $49.19 and a 12-month high of $69.18. The stock has a market capitalization of $12.48 billion, a PE ratio of 11.52, a price-to-earnings-growth ratio of 1.52 and a beta of 0.81. The company has a quick ratio of 0.70, a current ratio of 0.94 and a debt-to-equity ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data 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 net margin of 8.17% and a return on equity of 9.34%. The firm had revenue of $2.74 billion during the quarter, compared to analysts’ expectations of $2.71 billion. As a group, equities analysts predict that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Institutional Trading of Molson Coors Beverage

Hedge funds have recently modified their holdings of the stock. HighTower Advisors LLC increased its stake in shares of Molson Coors Beverage by 123.3% in the 4th quarter. HighTower Advisors LLC now owns 18,258 shares of the company’s stock valued at $1,047,000 after buying an additional 10,080 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Molson Coors Beverage by 1.6% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 35,572 shares of the company’s stock worth $2,046,000 after purchasing an additional 563 shares during the last quarter. US Bancorp DE lifted its position in Molson Coors Beverage by 103.9% during the 4th quarter. US Bancorp DE now owns 19,285 shares of the company’s stock valued at $1,106,000 after purchasing an additional 9,825 shares during the period. Unified Investment Management acquired a new stake in shares of Molson Coors Beverage during the 4th quarter worth approximately $871,000. Finally, Wilsey Asset Management Inc. boosted its stake in Molson Coors Beverage by 1.6% in the fourth quarter. Wilsey Asset Management Inc. now owns 550,539 shares of the company’s stock valued at $31,557,000 after acquiring an additional 8,679 shares during the last quarter. 78.46% of the stock is owned by institutional investors.

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.