Molson Coors Beverage (NYSE:TAP) Stock Price Expected to Rise, UBS Group Analyst Says

Molson Coors Beverage (NYSE:TAP) had its price objective hoisted by analysts at UBS Group from $58.00 to $63.00 in a research report issued to clients and investors on Friday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. UBS Group’s price target points to a potential upside of 4.43% from the stock’s current price.

TAP has been the subject of a number of other research reports. JPMorgan Chase & Co. reduced their target price 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. BNP Paribas initiated coverage on Molson Coors Beverage in a research report on Monday, November 25th. They issued a “neutral” rating and a $64.00 target price for the company. Barclays dropped their price target on shares of Molson Coors Beverage from $51.00 to $48.00 and set an “underweight” rating on the stock in a report on Friday, January 17th. StockNews.com raised shares of Molson Coors Beverage from a “hold” rating to a “buy” rating in a report on Thursday. Finally, Needham & Company LLC restated a “buy” rating and issued a $72.00 target price on shares of Molson Coors Beverage in a report on Wednesday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Molson Coors Beverage has an average rating of “Hold” and a consensus price target of $62.73.

Molson Coors Beverage Stock Performance

Shares of Molson Coors Beverage stock opened at $60.33 on Friday. Molson Coors Beverage has a 1 year low of $49.19 and a 1 year high of $69.18. The firm’s 50-day moving average is $56.50 and its 200 day moving average is $56.34. The stock has a market cap of $12.43 billion, a price-to-earnings ratio of 13.59, a PEG ratio of 2.07 and a beta of 0.85. The company has a debt-to-equity ratio of 0.46, a current ratio of 0.99 and a quick ratio of 0.74.

Molson Coors Beverage (NYSE:TAP) last issued its earnings results on Thursday, February 13th. The company reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate 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 anticipate 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 and hedge funds have recently added to or reduced their stakes in TAP. Truvestments Capital LLC increased its stake 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 worth $34,000 after purchasing an additional 202 shares in the last quarter. Ashton Thomas Securities LLC purchased a new stake in Molson Coors Beverage in the 3rd quarter worth $35,000. Quarry LP raised its holdings in Molson Coors Beverage by 55.1% during the fourth quarter. Quarry LP now owns 715 shares of the company’s stock valued at $41,000 after acquiring an additional 254 shares during the period. Gladius Capital Management LP purchased a new position in shares of Molson Coors Beverage in the third quarter valued at about $42,000. Finally, Catalyst Capital Advisors LLC boosted its stake in shares of Molson Coors Beverage by 143.6% in the fourth quarter. Catalyst Capital Advisors LLC now owns 726 shares of the company’s stock worth $42,000 after acquiring an additional 428 shares during the period. Institutional investors own 78.46% of the company’s stock.

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.