Insider Selling: Molson Coors Brewing Company Chairman Sells 25,710 Shares of Stock (TAP)
Molson Coors Brewing Company (NYSE:TAP) Chairman Peter H. Coors unloaded 25,710 shares of the stock on the open market in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $74.11, for a total value of $1,905,368.10. Following the completion of the sale, the chairman now directly owns 174,108 shares of the company’s stock, valued at approximately $12,903,144. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.
Several analysts have recently commented on the stock. Analysts at Stifel Nicolaus raised their price target on shares of Molson Coors Brewing Company from $76.00 to $87.00 in a research note on Thursday, June 26th. They now have a “buy” rating on the stock. Finally, analysts at Morgan Stanley upgraded shares of Molson Coors Brewing Company from an “underweight” rating to an “equal weight” rating in a research note on Friday, June 20th. They noted that the move was a valuation call. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Molson Coors Brewing Company currently has an average rating of “Buy” and a consensus price target of $74.13.
Molson Coors Brewing Company (NYSE:TAP) traded up 0.30% on Thursday, hitting $73.80. 1,143,577 shares of the company’s stock traded hands. Molson Coors Brewing Company has a 52 week low of $47.16 and a 52 week high of $75.55. The stock has a 50-day moving average of $68.79 and a 200-day moving average of $60.00. The company has a market cap of $13.635 billion and a price-to-earnings ratio of 19.37.
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. Analysts expect that Molson Coors Brewing Company will post $4.31 EPS for the current fiscal year.
Molson Coors Brewing Company (NYSE:TAP) is a holding company.
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