Shares of Molson Coors Brewing Co. (NYSE:TAP) have been given an average rating of “Buy” by the ten analysts that are currently covering the company. One analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $126.75.
Several analysts have commented on the stock. Susquehanna reiterated a “buy” rating and set a $130.00 target price on shares of Molson Coors Brewing in a research report on Sunday, July 17th. Zacks Investment Research raised shares of Molson Coors Brewing from a “hold” rating to a “buy” rating and set a $114.00 price target for the company in a report on Tuesday, July 12th. Bank of America Corp. assumed coverage on shares of Molson Coors Brewing in a report on Monday. They issued a “buy” rating and a $140.00 price target for the company. Stifel Nicolaus reissued a “top pick” rating on shares of Molson Coors Brewing in a report on Wednesday, July 6th. Finally, Citigroup Inc. raised shares of Molson Coors Brewing from a “neutral” rating to a “buy” rating and boosted their price target for the company from $101.00 to $115.00 in a report on Friday, July 29th.
In other Molson Coors Brewing news, Director Andrew Thomas Molson sold 1,173 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $99.49, for a total transaction of $116,701.77. Following the sale, the director now directly owns 6,834 shares of the company’s stock, valued at approximately $679,914.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Krishnan Anand sold 13,000 shares of the business’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $107.00, for a total transaction of $1,391,000.00. Following the sale, the chief executive officer now directly owns 29,676 shares in the company, valued at $3,175,332. The disclosure for this sale can be found here. 2.53% of the stock is currently owned by corporate insiders.
A number of large investors have recently modified their holdings of TAP. Magnetar Financial LLC acquired a new stake in shares of Molson Coors Brewing during the first quarter valued at approximately $41,026,000. Adage Capital Partners GP L.L.C. boosted its stake in shares of Molson Coors Brewing by 10.5% in the first quarter. Adage Capital Partners GP L.L.C. now owns 834,705 shares of the company’s stock valued at $80,282,000 after buying an additional 79,300 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Molson Coors Brewing by 16.7% in the first quarter. Renaissance Technologies LLC now owns 619,900 shares of the company’s stock valued at $59,622,000 after buying an additional 88,900 shares during the period. Prudential PLC boosted its stake in shares of Molson Coors Brewing by 3.2% in the first quarter. Prudential PLC now owns 76,940 shares of the company’s stock valued at $7,400,000 after buying an additional 2,378 shares during the period. Finally, ING Groep NV acquired a new stake in shares of Molson Coors Brewing during the first quarter valued at approximately $407,000. 77.65% of the stock is currently owned by hedge funds and other institutional investors.
Molson Coors Brewing (NYSE:TAP) opened at 110.25 on Monday. The company has a market capitalization of $23.68 billion, a price-to-earnings ratio of 57.15 and a beta of 0.88. The firm’s 50-day moving average price is $105.23 and its 200 day moving average price is $100.36. Molson Coors Brewing has a 12-month low of $80.78 and a 12-month high of $111.24.
Molson Coors Brewing (NYSE:TAP) last issued its earnings results on Tuesday, August 2nd. The company reported $1.11 EPS for the quarter, meeting the consensus estimate of $1.11. The company earned $986.20 million during the quarter, compared to analysts’ expectations of $970.25 million. Molson Coors Brewing had a net margin of 7.54% and a return on equity of 8.21%. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.41 EPS. On average, equities research analysts expect that Molson Coors Brewing will post $3.29 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Monday, August 29th. Molson Coors Brewing’s payout ratio is presently 88.65%.
About Molson Coors Brewing
Molson Coors Brewing Company (MCBC) is a holding company that operates as a brewer. The Company has a portfolio of brands, including Carling, Coors Light, Molson Canadian and Staropramen, as well as craft and specialty beers, such as Blue Moon, Creemore Springs, Cobra and Doom Bar. The Company operates through four segments: Molson Coors Canada (MCC or Canada segment); MillerCoors LLC (MillerCoors or U.S.
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