Molson Coors Brewing Co. (NYSE:TAP) Receives Average Recommendation of “Buy” from Brokerages
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 stock. One analyst has rated the stock with a hold recommendation, eight have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $124.86.
Several analysts recently weighed in on the stock. Stifel Nicolaus reissued a “top pick” rating on shares of Molson Coors Brewing in a research note on Wednesday, July 6th. Zacks Investment Research cut shares of Molson Coors Brewing from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Susquehanna boosted their price objective on shares of Molson Coors Brewing from $129.00 to $159.00 and gave the stock a “positive” rating in a research note on Wednesday, September 21st. Bryan, Garnier & Co raised shares of Molson Coors Brewing to a “buy” rating in a research note on Friday, July 8th. Finally, Goldman Sachs Group Inc. assumed coverage on shares of Molson Coors Brewing in a research note on Monday. They issued a “buy” rating and a $130.00 price objective on the stock.
In other news, CEO Krishnan Anand sold 1,869 shares of the company’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $102.00, for a total transaction of $190,638.00. Following the transaction, the chief executive officer now owns 26,777 shares in the company, valued at $2,731,254. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew Thomas Molson sold 1,173 shares of the company’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 transaction, the director now owns 6,834 shares in the company, valued at approximately $679,914.66. The disclosure for this sale can be found here. Insiders own 2.53% of the company’s stock.
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Institutional investors have recently made changes to their positions in the stock. Wellington Management Group LLP raised its stake in Molson Coors Brewing by 535.6% in the first quarter. Wellington Management Group LLP now owns 7,090,526 shares of the company’s stock worth $681,965,000 after buying an additional 5,975,046 shares in the last quarter. Lazard Asset Management LLC raised its stake in Molson Coors Brewing by 174.4% in the first quarter. Lazard Asset Management LLC now owns 6,543,563 shares of the company’s stock worth $629,357,000 after buying an additional 4,158,485 shares in the last quarter. State Street Corp raised its stake in Molson Coors Brewing by 19.9% in the first quarter. State Street Corp now owns 7,526,410 shares of the company’s stock worth $723,884,000 after buying an additional 1,247,903 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its stake in Molson Coors Brewing by 15.6% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,496,014 shares of the company’s stock worth $432,427,000 after buying an additional 608,234 shares in the last quarter. Finally, Emerald Acquisition Ltd. acquired a new stake in Molson Coors Brewing during the second quarter worth $53,703,000. Hedge funds and other institutional investors own 77.65% of the company’s stock.
Molson Coors Brewing (NYSE:TAP) traded up 1.78% during mid-day trading on Monday, hitting $109.57. The company’s stock had a trading volume of 964,307 shares. Molson Coors Brewing has a 52-week low of $78.17 and a 52-week high of $111.24. The firm has a 50 day moving average of $104.36 and a 200-day moving average of $100.05. The firm has a market cap of $23.53 billion, a price-to-earnings ratio of 56.80 and a beta of 0.88.
Molson Coors Brewing (NYSE:TAP) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $1.11 earnings per share for the quarter, hitting the consensus estimate of $1.11. Molson Coors Brewing had a net margin of 7.54% and a return on equity of 8.21%. The company had revenue of $986.20 million for the quarter, compared to analysts’ expectations of $970.25 million. During the same quarter in the previous year, the firm posted $1.41 earnings per share. Molson Coors Brewing’s revenue for the quarter was down 1.9% on a year-over-year basis. On average, equities research analysts expect that Molson Coors Brewing will post $3.29 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were issued a dividend of $0.41 per share. The ex-dividend date was Monday, August 29th. This represents a $1.64 annualized dividend and a dividend yield of 1.52%. Molson Coors Brewing’s dividend payout ratio is currently 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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