Insider Selling: Molson Coors Brewing Company Chairman Sells 27,300 Shares of Stock (TAP)
Molson Coors Brewing Company (NYSE:TAP) Chairman Peter H. Coors sold 27,300 shares of the company’s stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $65.52, for a total transaction of $1,788,696.00. Following the completion of the sale, the chairman now directly owns 35,529 shares of the company’s stock, valued at approximately $2,327,860. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Molson Coors Brewing Company (NYSE:TAP) traded down 0.03% during mid-day trading on Wednesday, hitting $65.57. The stock had a trading volume of 795,259 shares. Molson Coors Brewing Company has a 1-year low of $46.94 and a 1-year high of $66.00. The stock has a 50-day moving average of $62.39 and a 200-day moving average of $57.36. The company has a market cap of $12.115 billion and a P/E ratio of 17.27.
Molson Coors Brewing Company (NYSE:TAP) last released its earnings data on Wednesday, May 7th. The company reported $0.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.20. The company had revenue of $816.00 million for the quarter, compared to the consensus estimate of $818.43 million. During the same quarter in the previous year, the company posted $0.30 earnings per share. The company’s revenue for the quarter was down 1.5% on a year-over-year basis. On average, analysts predict that Molson Coors Brewing Company will post $4.31 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Monday, June 16th. Investors of record on Friday, May 30th will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Wednesday, May 28th.
A number of research firms have recently commented on TAP. Analysts at Zacks reiterated a “neutral” rating on shares of Molson Coors Brewing Company in a research note on Tuesday, May 27th. They now have a $68.00 price target on the stock. Separately, analysts at ISI Group upgraded shares of Molson Coors Brewing Company from a “neutral” rating to a “buy” rating in a research note on Friday, May 16th. They now have a $75.00 price target on the stock, up previously from $60.00. They noted that the move was a valuation call. Finally, analysts at Morgan Stanley raised their price target on shares of Molson Coors Brewing Company from $54.00 to $58.00 in a research note on Wednesday, May 14th. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $67.00.
Molson Coors Brewing Company (NYSE:TAP) is a holding company.
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