Molson Coors Beverage (NYSE:TAP) Price Target Raised to $65.00 at Deutsche Bank Aktiengesellschaft

Molson Coors Beverage (NYSE:TAP) had its price objective hoisted by Deutsche Bank Aktiengesellschaft from $64.00 to $65.00 in a research note released on Wednesday morning, Benzinga reports. The firm currently has a hold rating on the stock.

A number of other brokerages have also recently commented on TAP. Piper Sandler started coverage on Molson Coors Beverage in a report on Friday, March 22nd. They set a neutral rating and a $69.00 target price for the company. Barclays raised their target price on Molson Coors Beverage from $65.00 to $67.00 and gave the company an equal weight rating in a report on Friday, April 12th. The Goldman Sachs Group upgraded Molson Coors Beverage from a neutral rating to a buy rating and raised their target price for the company from $66.00 to $75.00 in a report on Tuesday, April 9th. StockNews.com upgraded Molson Coors Beverage from a hold rating to a buy rating in a research note on Friday, April 12th. Finally, Citigroup lifted their price objective on Molson Coors Beverage from $63.00 to $66.00 and gave the company a neutral rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of Hold and an average target price of $68.73.

Molson Coors Beverage Stock Performance

NYSE TAP opened at $63.54 on Wednesday. The stock has a market cap of $13.71 billion, a PE ratio of 14.57, a P/E/G ratio of 2.26 and a beta of 0.84. The company has a current ratio of 0.70, a quick ratio of 0.50 and a debt-to-equity ratio of 0.40. Molson Coors Beverage has a twelve month low of $55.67 and a twelve month high of $70.90. The stock has a fifty day simple moving average of $64.82 and a 200-day simple moving average of $62.21.

Molson Coors Beverage (NYSE:TAP) last announced its earnings results on Tuesday, February 13th. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.07. Molson Coors Beverage had a return on equity of 8.89% and a net margin of 6.83%. The company had revenue of $2.79 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same period last year, the business posted $1.30 EPS. Molson Coors Beverage’s revenue for the quarter was up 6.1% on a year-over-year basis. Equities analysts anticipate that Molson Coors Beverage will post 5.66 earnings per share for the current year.

Molson Coors Beverage Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Friday, March 1st were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 2.77%. The ex-dividend date of this dividend was Thursday, February 29th. This is a positive change from Molson Coors Beverage’s previous quarterly dividend of $0.41. Molson Coors Beverage’s dividend payout ratio (DPR) is 40.37%.

Insider Transactions at Molson Coors Beverage

In other Molson Coors Beverage news, CFO Tracey Joubert sold 2,771 shares of Molson Coors Beverage stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $60.37, for a total transaction of $167,285.27. Following the transaction, the chief financial officer now owns 60,538 shares of the company’s stock, valued at $3,654,679.06. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 2.71% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Quarry LP acquired a new position in Molson Coors Beverage during the second quarter worth approximately $25,000. Tennessee Valley Asset Management Partners acquired a new position in Molson Coors Beverage during the fourth quarter worth approximately $29,000. Stone House Investment Management LLC acquired a new position in Molson Coors Beverage during the third quarter worth approximately $32,000. Montag A & Associates Inc. acquired a new position in Molson Coors Beverage during the fourth quarter worth approximately $31,000. Finally, Raleigh Capital Management Inc. increased its holdings in shares of Molson Coors Beverage by 2,087.5% in the fourth quarter. Raleigh Capital Management Inc. now owns 525 shares of the company’s stock valued at $32,000 after purchasing an additional 501 shares during the period. Institutional investors and hedge funds own 78.46% of the company’s stock.

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.