Molson Coors Beverage (NYSE:TAP) PT Raised to $53.00 at Morgan Stanley

Molson Coors Beverage (NYSE:TAP) had its price target lifted by Morgan Stanley from $49.00 to $53.00 in a report issued on Monday, PriceTargets.com reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s target price would suggest a potential downside of 6.06% from the stock’s previous close.

Several other equities analysts have also recently weighed in on TAP. Citigroup increased their price target on Molson Coors Beverage from $52.00 to $61.00 in a report on Wednesday, March 31st. Cowen raised their target price on Molson Coors Beverage from $35.00 to $55.00 in a report on Thursday, January 21st. Zacks Investment Research raised Molson Coors Beverage from a “strong sell” rating to a “hold” rating and set a $53.00 target price on the stock in a report on Tuesday, April 13th. TheStreet cut Molson Coors Beverage from a “b-” rating to a “c” rating in a report on Thursday, February 11th. Finally, Wolfe Research initiated coverage on Molson Coors Beverage in a report on Monday, April 19th. They issued a “peer perform” rating on the stock. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $51.33.

Shares of TAP opened at $56.42 on Monday. The business’s fifty day simple moving average is $51.70 and its two-hundred day simple moving average is $46.82. The company has a current ratio of 0.61, a quick ratio of 0.46 and a debt-to-equity ratio of 0.52. Molson Coors Beverage has a 12 month low of $32.11 and a 12 month high of $57.41. The company has a market cap of $12.23 billion, a price-to-earnings ratio of 20.97, a P/E/G ratio of 3.27 and a beta of 1.14.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Thursday, April 29th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.12) by $0.13. Molson Coors Beverage had a return on equity of 7.35% and a net margin of 4.86%. As a group, research analysts forecast that Molson Coors Beverage will post 4.3 EPS for the current year.

In other Molson Coors Beverage news, CEO Simon Cox sold 10,653 shares of the firm’s stock in a transaction dated Wednesday, February 24th. The shares were sold at an average price of $46.62, for a total value of $496,642.86. Following the completion of the sale, the chief executive officer now owns 52,091 shares of the company’s stock, valued at $2,428,482.42. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director James A. Winnefeld, Jr. purchased 1,000 shares of the firm’s stock in a transaction dated Friday, February 12th. The shares were bought at an average cost of $44.49 per share, with a total value of $44,490.00. Following the purchase, the director now directly owns 7,442 shares of the company’s stock, valued at approximately $331,094.58. The disclosure for this purchase can be found here. Corporate insiders own 2.43% of the company’s stock.

Large investors have recently modified their holdings of the stock. Jacobi Capital Management LLC raised its stake in Molson Coors Beverage by 1,685.7% in the fourth quarter. Jacobi Capital Management LLC now owns 625 shares of the company’s stock worth $28,000 after buying an additional 590 shares in the last quarter. Oakworth Capital Inc. raised its stake in Molson Coors Beverage by 4,515.4% in the first quarter. Oakworth Capital Inc. now owns 600 shares of the company’s stock worth $31,000 after buying an additional 587 shares in the last quarter. Tompkins Financial Corp raised its stake in Molson Coors Beverage by 1,592.0% in the fourth quarter. Tompkins Financial Corp now owns 846 shares of the company’s stock worth $33,000 after buying an additional 796 shares in the last quarter. DB Wealth Management Group LLC bought a new position in Molson Coors Beverage in the fourth quarter worth approximately $34,000. Finally, IFP Advisors Inc raised its stake in Molson Coors Beverage by 33.4% in the fourth quarter. IFP Advisors Inc now owns 847 shares of the company’s stock worth $38,000 after buying an additional 212 shares in the last quarter. 40.00% of the stock is owned by institutional investors.

About Molson Coors Beverage

Molson Coors Beverage Co is a holding company, which engages in the production and sale of beer. It operates through the following segments: North America and Europe. The North America segment operates in the U.S., Canada and various countries in the Caribbean, Latin, and South America. The Europe segment operates in Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, the Republic of Ireland, Romania, Serbia, the U.K., various other European countries, and certain countries within the Middle East, Africa, and Asia Pacific.

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Analyst Recommendations for Molson Coors Beverage (NYSE:TAP)

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