Molson Coors Beverage (NYSE:TAP) Price Target Increased to $65.00 by Analysts at Deutsche Bank Aktiengesellschaft

Molson Coors Beverage (NYSE:TAP) had its price objective boosted by research analysts at Deutsche Bank Aktiengesellschaft from $64.00 to $65.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a “hold” rating on the stock. Deutsche Bank Aktiengesellschaft’s price target would suggest a potential upside of 2.33% from the company’s previous close.

Several other analysts have also issued reports on TAP. TheStreet raised Molson Coors Beverage from a “c” rating to a “b-” rating in a report on Tuesday, February 13th. Piper Sandler began coverage on Molson Coors Beverage in a report on Friday, March 22nd. They set a “neutral” rating and a $69.00 target price on the stock. Barclays raised their price objective on Molson Coors Beverage from $65.00 to $67.00 and gave the company an “equal weight” rating in a research note on Friday, April 12th. Citigroup raised their price objective on Molson Coors Beverage from $63.00 to $66.00 and gave the company a “neutral” rating in a research note on Tuesday. Finally, StockNews.com raised Molson Coors Beverage from a “hold” rating to a “buy” rating in a research note on Friday, April 12th. One analyst has rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $68.73.

Molson Coors Beverage Stock Performance

TAP traded up $0.26 during trading hours on Wednesday, reaching $63.52. The company’s stock had a trading volume of 1,008,780 shares, compared to its average volume of 1,654,140. Molson Coors Beverage has a 52 week low of $55.67 and a 52 week high of $70.90. The company’s 50-day moving average is $64.75 and its 200-day moving average is $62.20. The company has a debt-to-equity ratio of 0.40, a quick ratio of 0.50 and a current ratio of 0.70. The firm has a market cap of $13.70 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 2.26 and a beta of 0.84.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Tuesday, February 13th. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.07. The firm had revenue of $2.79 billion for the quarter, compared to analyst estimates of $2.78 billion. Molson Coors Beverage had a return on equity of 8.89% and a net margin of 6.83%. The company’s revenue for the quarter was up 6.1% on a year-over-year basis. During the same period in the prior year, the firm posted $1.30 EPS. On average, equities analysts forecast that Molson Coors Beverage will post 5.66 EPS for the current year.

Insider Buying and Selling at Molson Coors Beverage

In other Molson Coors Beverage news, CFO Tracey Joubert sold 2,771 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $60.37, for a total value of $167,285.27. Following the completion of the transaction, the chief financial officer now directly owns 60,538 shares in the company, valued at $3,654,679.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 2.71% of the company’s stock.

Hedge Funds Weigh In On Molson Coors Beverage

Several large investors have recently bought and sold shares of TAP. Quarry LP bought a new position in shares of Molson Coors Beverage during the second quarter worth about $25,000. Tennessee Valley Asset Management Partners bought a new position in shares of Molson Coors Beverage during the fourth quarter worth about $29,000. Montag A & Associates Inc. bought a new position in shares of Molson Coors Beverage during the fourth quarter worth about $31,000. Stone House Investment Management LLC bought a new position in shares of Molson Coors Beverage during the third quarter worth about $32,000. Finally, Raleigh Capital Management Inc. raised its position in shares of Molson Coors Beverage by 2,087.5% during the fourth quarter. Raleigh Capital Management Inc. now owns 525 shares of the company’s stock worth $32,000 after acquiring an additional 501 shares during the last quarter. 78.46% of the stock is currently 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.