Molson Coors Beverage (NYSE:TAP) Price Target Raised to $50.00 at Deutsche Bank Aktiengesellschaft

Posted by Defense World Staff on May 4th, 2023

Molson Coors Beverage (NYSE:TAP – Get Rating) had its target price raised by Deutsche Bank Aktiengesellschaft from $47.00 to $50.00 in a research note published on Wednesday morning, The Fly reports.

A number of other research analysts have also recently issued reports on TAP. JPMorgan Chase & Co. raised shares of Molson Coors Beverage from an underweight rating to a neutral rating and raised their price target for the stock from $59.00 to $64.00 in a report on Wednesday. UBS Group raised their target price on Molson Coors Beverage from $54.00 to $67.00 in a research note on Wednesday. Roth Capital reiterated a buy rating on shares of Molson Coors Beverage in a research note on Tuesday, February 21st. Cowen raised Molson Coors Beverage from a market perform rating to an outperform rating and increased their price objective for the company from $55.00 to $60.00 in a report on Friday, January 6th. Finally, Wells Fargo & Company lifted their target price on Molson Coors Beverage from $45.00 to $48.00 and gave the stock an underweight rating in a report on Wednesday, February 22nd. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of Hold and a consensus target price of $55.29.

Molson Coors Beverage Trading Down 0.2 %

Shares of NYSE:TAP opened at $64.96 on Wednesday. The business’s 50-day moving average is $54.29 and its 200 day moving average is $52.65. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.78 and a quick ratio of 0.55. Molson Coors Beverage has a 1 year low of $46.69 and a 1 year high of $66.67. The firm has a market capitalization of $14.05 billion, a P/E ratio of -79.22, a P/E/G ratio of 3.73 and a beta of 0.83.

Molson Coors Beverage (NYSE:TAP – Get Rating) last issued its quarterly earnings results on Tuesday, May 2nd. The company reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.28. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.23 billion. Molson Coors Beverage had a positive return on equity of 6.65% and a negative net margin of 1.37%. The company’s revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.29 earnings per share. On average, research analysts predict that Molson Coors Beverage will post 4.08 earnings per share for the current fiscal year.

Molson Coors Beverage Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 17th. Investors of record on Friday, March 3rd were paid a $0.41 dividend. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.38. This represents a $1.64 annualized dividend and a dividend yield of 2.52%. The ex-dividend date of this dividend was Thursday, March 2nd. Molson Coors Beverage’s payout ratio is currently -200.00%.

Institutional Trading of Molson Coors Beverage

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC purchased a new stake in shares of Molson Coors Beverage during the 1st quarter worth about $25,000. Lindbrook Capital LLC boosted its position in Molson Coors Beverage by 2,192.0% during the first quarter. Lindbrook Capital LLC now owns 573 shares of the company’s stock worth $30,000 after purchasing an additional 548 shares in the last quarter. Trustcore Financial Services LLC acquired a new stake in Molson Coors Beverage in the third quarter valued at approximately $29,000. Beacon Capital Management LLC grew its holdings in Molson Coors Beverage by 1,781.3% in the fourth quarter. Beacon Capital Management LLC now owns 602 shares of the company’s stock valued at $31,000 after purchasing an additional 570 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its position in shares of Molson Coors Beverage by 85.7% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 650 shares of the company’s stock valued at $33,000 after buying an additional 300 shares in the last quarter. Institutional investors and hedge funds own 76.24% of the company’s stock.

Molson Coors Beverage Company Profile

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