Molson Coors Beverage (NYSE:TAP) Now Covered by BNP Paribas

Analysts at BNP Paribas began coverage on shares of Molson Coors Beverage (NYSE:TAP) in a report released on Monday,Briefing.com Automated Import reports. The brokerage set a “neutral” rating and a $64.00 price target on the stock. BNP Paribas’ price objective would suggest a potential upside of 6.03% from the stock’s current price.

A number of other brokerages have also recently issued reports on TAP. Barclays raised their price objective on shares of Molson Coors Beverage from $49.00 to $51.00 and gave the company an “underweight” rating in a research note on Monday, November 11th. UBS Group raised their price target on Molson Coors Beverage from $55.00 to $58.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Hsbc Global Res downgraded Molson Coors Beverage from a “hold” rating to a “moderate sell” rating in a report on Friday, November 8th. Wells Fargo & Company upgraded Molson Coors Beverage from an “underweight” rating to an “overweight” rating and raised their target price for the stock from $52.00 to $74.00 in a report on Friday, November 8th. Finally, TD Cowen lowered their price target on Molson Coors Beverage from $58.00 to $56.00 and set a “hold” rating for the company in a research note on Tuesday, October 8th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $60.57.

Molson Coors Beverage Stock Down 0.2 %

NYSE TAP opened at $60.36 on Monday. The stock has a market capitalization of $12.43 billion, a P/E ratio of 13.59, a price-to-earnings-growth ratio of 2.34 and a beta of 0.82. Molson Coors Beverage has a 52 week low of $49.19 and a 52 week high of $69.18. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.74 and a current ratio of 0.99. The stock has a fifty day moving average of $56.84 and a 200-day moving average of $54.43.

Molson Coors Beverage (NYSE:TAP) last announced its quarterly earnings data on Thursday, November 7th. The company reported $1.80 EPS for the quarter, topping analysts’ consensus estimates of $1.67 by $0.13. Molson Coors Beverage had a return on equity of 9.24% and a net margin of 6.78%. The firm had revenue of $3.04 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same period last year, the company earned $1.92 earnings per share. The company’s revenue was down 7.8% on a year-over-year basis. On average, equities research analysts forecast that Molson Coors Beverage will post 5.78 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. iA Global Asset Management Inc. lifted its position in Molson Coors Beverage by 117.5% during the 1st quarter. iA Global Asset Management Inc. now owns 31,583 shares of the company’s stock worth $2,124,000 after buying an additional 17,062 shares in the last quarter. Wakefield Asset Management LLLP boosted its position in Molson Coors Beverage by 124.5% during the second quarter. Wakefield Asset Management LLLP now owns 53,286 shares of the company’s stock valued at $2,709,000 after purchasing an additional 29,552 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of Molson Coors Beverage during the 2nd quarter worth approximately $3,842,000. Wedge Capital Management L L P NC raised its stake in shares of Molson Coors Beverage by 4.1% during the 2nd quarter. Wedge Capital Management L L P NC now owns 689,027 shares of the company’s stock worth $35,023,000 after purchasing an additional 27,203 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its holdings in shares of Molson Coors Beverage by 22.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 307,393 shares of the company’s stock valued at $20,673,000 after buying an additional 56,584 shares during the last quarter. 78.46% of the stock is owned by institutional investors and hedge funds.

Molson Coors Beverage Company Profile

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.