Molson Coors Beverage (NYSE:TAP) Receives Buy Rating from Needham & Company LLC

Molson Coors Beverage (NYSE:TAP)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a research report issued on Wednesday,Benzinga reports. They currently have a $72.00 price objective on the stock. Needham & Company LLC’s price objective would suggest a potential upside of 33.34% from the company’s current price.

TAP has been the topic of several other reports. StockNews.com lowered shares of Molson Coors Beverage from a “buy” rating to a “hold” rating in a research report on Sunday, February 2nd. JPMorgan Chase & Co. dropped their price objective on Molson Coors Beverage from $59.00 to $58.00 and set a “neutral” rating for the company in a research note on Thursday, January 30th. Wells Fargo & Company upgraded Molson Coors Beverage from an “underweight” rating to an “overweight” rating and boosted their target price for the stock from $52.00 to $74.00 in a research report on Friday, November 8th. Barclays dropped their price target on Molson Coors Beverage from $51.00 to $48.00 and set an “underweight” rating for the company in a research report on Friday, January 17th. Finally, BNP Paribas started coverage on Molson Coors Beverage in a research note on Monday, November 25th. They set a “neutral” rating and a $64.00 price target for the company. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $62.36.

Molson Coors Beverage Trading Up 0.6 %

NYSE TAP opened at $54.00 on Wednesday. The company has a quick ratio of 0.74, a current ratio of 0.99 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $11.12 billion, a P/E ratio of 12.16, a P/E/G ratio of 2.07 and a beta of 0.85. Molson Coors Beverage has a 52-week low of $49.19 and a 52-week high of $69.18. The firm has a 50-day moving average price of $56.74 and a 200 day moving average price of $56.27.

Institutional Investors Weigh In On Molson Coors Beverage

A number of large investors have recently added to or reduced their stakes in the company. Ritholtz Wealth Management acquired a new stake in Molson Coors Beverage during the 3rd quarter valued at approximately $223,000. Creative Planning boosted its stake in shares of Molson Coors Beverage by 14.7% during the 3rd quarter. Creative Planning now owns 18,890 shares of the company’s stock valued at $1,087,000 after buying an additional 2,418 shares during the last quarter. Vontobel Holding Ltd. grew its position in shares of Molson Coors Beverage by 16.1% during the third quarter. Vontobel Holding Ltd. now owns 124,768 shares of the company’s stock worth $7,177,000 after buying an additional 17,285 shares in the last quarter. Inlet Private Wealth LLC increased its stake in shares of Molson Coors Beverage by 4.7% in the third quarter. Inlet Private Wealth LLC now owns 47,770 shares of the company’s stock worth $2,748,000 after buying an additional 2,150 shares during the last quarter. Finally, Randolph Co Inc acquired a new stake in Molson Coors Beverage in the third quarter valued at $21,754,000. 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.