Molson Coors Beverage (NYSE:TAP) Price Target Raised to $63.00 at Morgan Stanley

Molson Coors Beverage (NYSE:TAP) had its price target upped by investment analysts at Morgan Stanley from $60.00 to $63.00 in a report released on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 5.46% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. BNP Paribas initiated coverage on Molson Coors Beverage in a report on Monday, November 25th. They issued a “neutral” rating and a $64.00 price target for the company. UBS Group reduced their price target on Molson Coors Beverage from $60.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Citigroup raised Molson Coors Beverage from a “sell” rating to a “neutral” rating and upped their price target for the stock from $47.00 to $57.00 in a report on Wednesday, February 5th. Barclays reduced their price target on Molson Coors Beverage from $51.00 to $48.00 and set an “underweight” rating for the company in a report on Friday, January 17th. Finally, Hsbc Global Res cut Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, Molson Coors Beverage has a consensus rating of “Hold” and an average target price of $62.40.

Molson Coors Beverage Stock Performance

Shares of TAP stock opened at $59.74 on Friday. The stock has a market cap of $12.31 billion, a PE ratio of 13.48, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The business has a 50-day simple moving average of $56.52 and a 200-day simple moving average of $56.26. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18.

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, beating the consensus estimate of $1.17 by $0.13. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. On average, equities analysts expect that Molson Coors Beverage will post 5.79 EPS for the current year.

Institutional Investors Weigh In On Molson Coors Beverage

A number of institutional investors have recently modified their holdings of the company. State Street Corp grew its stake in shares of Molson Coors Beverage by 8.4% in the third quarter. State Street Corp now owns 8,792,196 shares of the company’s stock valued at $505,727,000 after buying an additional 681,757 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Molson Coors Beverage by 1.3% in the fourth quarter. Geode Capital Management LLC now owns 4,291,048 shares of the company’s stock valued at $245,308,000 after purchasing an additional 54,867 shares during the period. Invesco Ltd. boosted its holdings in Molson Coors Beverage by 4.2% in the fourth quarter. Invesco Ltd. now owns 3,789,258 shares of the company’s stock valued at $217,200,000 after purchasing an additional 152,622 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Molson Coors Beverage by 12.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,753,491 shares of the company’s stock valued at $215,146,000 after purchasing an additional 422,515 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in Molson Coors Beverage by 14.0% in the fourth quarter. Bank of New York Mellon Corp now owns 3,535,604 shares of the company’s stock valued at $202,661,000 after purchasing an additional 434,250 shares during the period. 78.46% of the stock is owned by institutional investors and hedge funds.

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.