Molson Coors Beverage (NYSE:TAP) Research Coverage Started at Wolfe Research


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Equities researchers at Wolfe Research began coverage on shares of Molson Coors Beverage (NYSE:TAP) in a note issued to investors on Monday, Price Targets.com reports. The firm set a “peer perform” rating on the stock.

A number of other analysts have also recently issued reports on TAP. JPMorgan Chase & Co. restated an “underweight” rating and set a $43.00 target price (down previously from $45.00) on shares of Molson Coors Beverage in a research note on Thursday, March 25th. Citigroup lifted their price objective on shares of Molson Coors Beverage from $52.00 to $61.00 in a research note on Wednesday, March 31st. Morgan Stanley lifted their price objective on shares of Molson Coors Beverage from $41.00 to $45.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 14th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Molson Coors Beverage from $43.00 to $49.00 and gave the stock a “hold” rating in a research note on Thursday, February 4th. Finally, Jefferies Financial Group upgraded shares of Molson Coors Beverage from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $36.00 to $57.00 in a research note on Monday, January 4th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the stock. Molson Coors Beverage has an average rating of “Hold” and an average target price of $49.69.

Shares of TAP opened at $51.74 on Monday. The firm has a 50-day moving average of $48.59 and a 200-day moving average of $44.85. Molson Coors Beverage has a one year low of $32.11 and a one year high of $56.10. The company has a market cap of $11.22 billion, a PE ratio of 19.23, a price-to-earnings-growth ratio of 3.27 and a beta of 1.14. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.61 and a quick ratio of 0.46.

Molson Coors Beverage (NYSE:TAP) last posted its earnings results on Wednesday, February 10th. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.77 by ($0.37). The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.41 billion. Molson Coors Beverage had a return on equity of 7.35% and a net margin of 4.86%. Analysts expect that Molson Coors Beverage will post 4.3 earnings per share for the current year.

In other Molson Coors Beverage news, CEO Simon Cox sold 10,653 shares of the business’s stock in a transaction that occurred on Wednesday, February 24th. The shares were sold at an average price of $46.62, for a total transaction of $496,642.86. Following the sale, the chief executive officer now directly owns 52,091 shares of the company’s stock, valued at approximately $2,428,482.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director James A. Winnefeld, Jr. bought 1,000 shares of Molson Coors Beverage stock in a transaction on Friday, February 12th. The shares were acquired at an average cost of $44.49 per share, for a total transaction of $44,490.00. Following the completion of the acquisition, the director now directly owns 7,442 shares in the company, valued at $331,094.58. The disclosure for this purchase can be found here. Insiders own 2.43% of the company’s stock.

Institutional investors and hedge funds have recently bought and sold shares of the business. Jacobi Capital Management LLC lifted its position in shares of Molson Coors Beverage by 1,685.7% in the 4th quarter. Jacobi Capital Management LLC now owns 625 shares of the company’s stock worth $28,000 after purchasing an additional 590 shares during the period. Tompkins Financial Corp lifted its position in shares of Molson Coors Beverage by 1,592.0% in the 4th quarter. Tompkins Financial Corp now owns 846 shares of the company’s stock worth $33,000 after purchasing an additional 796 shares during the period. DB Wealth Management Group LLC acquired a new position in shares of Molson Coors Beverage in the 4th quarter worth approximately $34,000. IFP Advisors Inc lifted its position in shares of Molson Coors Beverage by 33.4% in the 4th quarter. IFP Advisors Inc now owns 847 shares of the company’s stock worth $38,000 after purchasing an additional 212 shares during the period. Finally, Berman Capital Advisors LLC lifted its position in shares of Molson Coors Beverage by 94.8% in the 4th quarter. Berman Capital Advisors LLC now owns 978 shares of the company’s stock worth $44,000 after purchasing an additional 476 shares during the period. 40.00% of the stock is currently owned by hedge funds and other institutional investors.

Molson Coors Beverage Company Profile

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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