Insider Selling: Molson Coors Brewing Company CEO Sells 2,500 Shares of Stock (TAP)
Molson Coors Brewing Company (NYSE:TAP) CEO Krishnan Anand sold 2,500 shares of Molson Coors Brewing Company stock on the open market in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $70.00, for a total transaction of $175,000.00. Following the transaction, the chief executive officer now directly owns 39,609 shares of the company’s stock, valued at approximately $2,772,630. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.
A number of research firms have recently commented on TAP. Analysts at JPMorgan Chase & Co. raised their price target on shares of Molson Coors Brewing Company from $65.00 to $76.00 in a research note on Thursday. They now have a “neutral” rating on the stock. Separately, analysts at Stifel Nicolaus raised their price target on shares of Molson Coors Brewing Company from $87.00 to $90.00 in a research note on Thursday. They now have a “buy” rating on the stock. Finally, analysts at Nomura raised their price target on shares of Molson Coors Brewing Company from $62.00 to $65.00 in a research note on Monday, July 21st. They now have a “neutral” rating on the stock. Three equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $75.71.
Shares of Molson Coors Brewing Company (NYSE:TAP) traded up 2.14% during mid-day trading on Friday, hitting $71.19. The stock had a trading volume of 1,317,628 shares. Molson Coors Brewing Company has a one year low of $48.18 and a one year high of $75.55. The stock has a 50-day moving average of $72.10 and a 200-day moving average of $62.88. The company has a market cap of $13.156 billion and a P/E ratio of 17.78.
Molson Coors Brewing Company (NYSE:TAP) last announced its earnings results on Wednesday, August 6th. The company reported $1.57 earnings per share for the quarter, beating the analysts’ consensus estimate of $1.46 by $0.11. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.18 billion. During the same quarter last year, the company posted $1.50 earnings per share. Molson Coors Brewing Company’s revenue was up .9% compared to the same quarter last year. On average, analysts predict that Molson Coors Brewing Company will post $4.36 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Monday, September 15th. Investors of record on Friday, August 29th will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Wednesday, August 27th.
Molson Coors Brewing Company (NYSE:TAP) is a holding company.
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