Molson Coors Beverage (NYSE:TAP) Given New $57.00 Price Target at Barclays

Molson Coors Beverage (NYSE:TAP) had its price target reduced by stock analysts at Barclays from $60.00 to $57.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Barclays‘s price target indicates a potential upside of 3.71% from the stock’s current price.

A number of other equities analysts have also recently weighed in on the company. JPMorgan Chase & Co. lowered their price target on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a report on Thursday, January 30th. UBS Group lowered their target price on shares of Molson Coors Beverage from $63.00 to $59.00 and set a “neutral” rating for the company in a research note on Friday. Citigroup upgraded shares of Molson Coors Beverage from a “sell” rating to a “neutral” rating and lifted their price target for the company from $47.00 to $57.00 in a research report on Wednesday, February 5th. Berenberg Bank started coverage on shares of Molson Coors Beverage in a report on Wednesday, April 2nd. They issued a “buy” rating and a $86.90 price objective on the stock. Finally, StockNews.com raised shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a research report on Friday. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Molson Coors Beverage has a consensus rating of “Hold” and a consensus price target of $62.71.

Molson Coors Beverage Trading Up 0.6%

Molson Coors Beverage stock traded up $0.33 during trading on Monday, reaching $54.96. 4,661,223 shares of the company were exchanged, compared to its average volume of 2,097,706. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.94 and a quick ratio of 0.70. The stock’s 50 day simple moving average is $59.12 and its two-hundred day simple moving average is $58.44. The company has a market capitalization of $11.14 billion, a P/E ratio of 10.27, a PEG ratio of 1.52 and a beta of 0.73. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $64.66.

Molson Coors Beverage (NYSE:TAP) last issued its quarterly earnings data on Thursday, May 8th. The company reported $0.50 earnings per share for the quarter, missing the consensus estimate of $0.80 by ($0.30). The business had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.43 billion. Molson Coors Beverage had a return on equity of 9.34% and a net margin of 8.17%. The company’s revenue was down 11.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.95 earnings per share. On average, equities research analysts expect that Molson Coors Beverage will post 6.35 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Molson Coors Beverage

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Golden State Wealth Management LLC lifted its holdings in shares of Molson Coors Beverage by 230.2% in the 1st quarter. Golden State Wealth Management LLC now owns 416 shares of the company’s stock valued at $25,000 after purchasing an additional 290 shares during the last quarter. Millstone Evans Group LLC grew its stake in Molson Coors Beverage by 151.8% during the 1st quarter. Millstone Evans Group LLC now owns 423 shares of the company’s stock worth $26,000 after buying an additional 255 shares during the last quarter. Financial Management Professionals Inc. increased its position in Molson Coors Beverage by 3,286.7% during the first quarter. Financial Management Professionals Inc. now owns 508 shares of the company’s stock worth $31,000 after buying an additional 493 shares during the period. Eastern Bank purchased a new stake in Molson Coors Beverage in the first quarter valued at approximately $33,000. Finally, Truvestments Capital LLC boosted its holdings in shares of Molson Coors Beverage by 51.4% in the fourth quarter. Truvestments Capital LLC now owns 595 shares of the company’s stock valued at $34,000 after acquiring an additional 202 shares during the period. 78.46% of the stock is owned by hedge funds and other 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.