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

Molson Coors Beverage (NYSE:TAP) had its price target lifted by analysts at Morgan Stanley from $60.00 to $63.00 in a research report issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price target indicates a potential upside of 4.43% from the company’s previous close.

Several other research analysts also recently commented on TAP. UBS Group lowered their price objective on shares of Molson Coors Beverage from $60.00 to $58.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Molson Coors Beverage in a research note on Wednesday. Citigroup upgraded Molson Coors Beverage from a “sell” rating to a “neutral” rating and lifted their target price for the company from $47.00 to $57.00 in a research report on Wednesday, February 5th. Bank of America raised shares of Molson Coors Beverage from a “neutral” rating to a “buy” rating and increased their target price for the stock from $57.00 to $70.00 in a report on Friday, December 6th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Molson Coors Beverage presently has a consensus rating of “Hold” and an average price target of $62.73.

Molson Coors Beverage Stock Performance

TAP opened at $60.33 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The firm has a market cap of $12.43 billion, a P/E ratio of 13.59, a price-to-earnings-growth ratio of 2.07 and a beta of 0.85. The business’s fifty day moving average is $56.50 and its 200-day moving average is $56.34.

Molson Coors Beverage (NYSE:TAP) last announced 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. The firm had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.71 billion. Molson Coors Beverage had a net margin of 6.78% and a return on equity of 9.24%. Sell-side analysts expect that Molson Coors Beverage will post 5.79 EPS for the current fiscal year.

Institutional Investors Weigh In On Molson Coors Beverage

A number of institutional investors have recently modified their holdings of the company. DoubleLine ETF Adviser LP lifted its holdings in Molson Coors Beverage by 1.7% in the fourth quarter. DoubleLine ETF Adviser LP now owns 10,297 shares of the company’s stock valued at $590,000 after buying an additional 170 shares during the period. Farther Finance Advisors LLC raised its position in shares of Molson Coors Beverage by 11.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,720 shares of the company’s stock worth $99,000 after acquiring an additional 182 shares in the last quarter. Integrated Investment Consultants LLC lifted its stake in shares of Molson Coors Beverage by 4.7% in the 3rd quarter. Integrated Investment Consultants LLC now owns 4,154 shares of the company’s stock valued at $239,000 after purchasing an additional 185 shares during the period. Pallas Capital Advisors LLC boosted its position in shares of Molson Coors Beverage by 1.2% during the 4th quarter. Pallas Capital Advisors LLC now owns 17,017 shares of the company’s stock valued at $975,000 after purchasing an additional 199 shares in the last quarter. Finally, Venturi Wealth Management LLC grew its stake in Molson Coors Beverage by 7.4% during the fourth quarter. Venturi Wealth Management LLC now owns 2,935 shares of the company’s stock worth $168,000 after purchasing an additional 202 shares during the period. 78.46% of the stock is owned by institutional investors.

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.