Insider Selling: Mark Hunter Sells 25,549 Shares of Molson Coors Brewing Company Stock (TAP)
Molson Coors Brewing Company (NYSE:TAP) CEO Mark Hunter unloaded 25,549 shares of Molson Coors Brewing Company stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $71.45, for a total transaction of $1,825,476.05. Following the completion of the sale, the chief executive officer now directly owns 43,518 shares of the company’s stock, valued at approximately $3,109,361. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Molson Coors Brewing Company (NYSE:TAP) traded up 0.42% on Monday, hitting $71.53. 1,321,942 shares of the company’s stock traded hands. Molson Coors Brewing Company has a one year low of $46.94 and a one year high of $72.78. The stock’s 50-day moving average is $64.26 and its 200-day moving average is $58.1. The company has a market cap of $13.216 billion and a price-to-earnings ratio of 18.75.
Molson Coors Brewing Company (NYSE:TAP) last announced its earnings results on Wednesday, May 7th. The company reported $0.55 EPS for the quarter, beating the Thomson Reuters 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 prior year, the company posted $0.30 earnings per share. The company’s quarterly revenue was down 1.5% on a year-over-year basis. On average, analysts predict that Molson Coors Brewing Company will post $4.30 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, June 16th. Investors of record on Friday, May 30th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Wednesday, May 28th.
A number of analysts have recently weighed in on TAP shares. Analysts at Zacks upgraded shares of Molson Coors Brewing Company from an “underperform” rating to a “buy” rating in a research note on Wednesday, June 11th. They now have a $80.00 price target on the stock, up previously from $55.00. Separately, analysts at Goldman Sachs raised their price target on shares of Molson Coors Brewing Company to $79.00 in a research note on Wednesday, June 11th. Finally, analysts at Bank of America upgraded shares of Molson Coors Brewing Company from an “underperform” rating to a “buy” rating in a research note on Wednesday, June 11th. They now have a $80.00 price target on the stock, up previously from $55.00. They noted that the move was a valuation call. Five research analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and a consensus target price of $71.11.
Molson Coors Brewing Company (NYSE:TAP) is a holding company.
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