Molson Coors Brewing Company (TAP) Receives Average Recommendation of “Hold” from Brokerages
Shares of Molson Coors Brewing Company (NYSE:TAP) have received a consensus rating of “Hold” from the fourteen ratings firms that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have issued ratings on the stock in the last year is $107.77.
Several research analysts have recently issued reports on TAP shares. Berenberg Bank started coverage on Molson Coors Brewing in a research report on Wednesday. They issued a “sell” rating and a $78.00 target price for the company. Cowen and Company restated a “market perform” rating and issued a $100.00 price target on shares of Molson Coors Brewing in a research note on Wednesday, May 31st. BidaskClub upgraded Molson Coors Brewing from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Susquehanna Bancshares Inc restated a “buy” rating on shares of Molson Coors Brewing in a research note on Wednesday, August 2nd. Finally, UBS AG restated a “neutral” rating and issued a $98.00 price target (up previously from $96.00) on shares of Molson Coors Brewing in a research note on Wednesday, August 9th.
In other Molson Coors Brewing news, CEO Gavin Hattersley sold 17,215 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $91.90, for a total transaction of $1,582,058.50. Following the sale, the chief executive officer now directly owns 99,217 shares in the company, valued at approximately $9,118,042.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 2.76% of the company’s stock.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Lord Abbett & CO. LLC boosted its stake in Molson Coors Brewing by 35.2% during the 2nd quarter. Lord Abbett & CO. LLC now owns 744,777 shares of the company’s stock valued at $64,304,000 after purchasing an additional 194,000 shares during the last quarter. WFG Advisors LP boosted its stake in Molson Coors Brewing by 14.0% during the 2nd quarter. WFG Advisors LP now owns 3,938 shares of the company’s stock valued at $340,000 after purchasing an additional 483 shares during the last quarter. Toronto Dominion Bank boosted its stake in Molson Coors Brewing by 25.7% during the 2nd quarter. Toronto Dominion Bank now owns 62,604 shares of the company’s stock valued at $5,404,000 after purchasing an additional 12,804 shares during the last quarter. Verition Fund Management LLC boosted its stake in Molson Coors Brewing by 31.1% during the 2nd quarter. Verition Fund Management LLC now owns 7,373 shares of the company’s stock valued at $637,000 after purchasing an additional 1,750 shares during the last quarter. Finally, National Asset Management Inc. boosted its stake in Molson Coors Brewing by 8.1% during the 2nd quarter. National Asset Management Inc. now owns 2,868 shares of the company’s stock valued at $248,000 after purchasing an additional 215 shares during the last quarter. Institutional investors and hedge funds own 78.34% of the company’s stock.
Shares of Molson Coors Brewing (NYSE TAP) traded down 0.59% on Friday, hitting $87.25. The company had a trading volume of 1,724,263 shares. Molson Coors Brewing has a 52 week low of $85.34 and a 52 week high of $112.19. The firm’s 50 day moving average price is $89.68 and its 200-day moving average price is $92.08. The stock has a market capitalization of $18.79 billion, a PE ratio of 8.72 and a beta of 0.90.
Molson Coors Brewing (NYSE:TAP) last announced its earnings results on Wednesday, August 2nd. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by ($0.38). Molson Coors Brewing had a return on equity of 7.41% and a net margin of 19.78%. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the prior year, the company posted $1.11 EPS. The firm’s revenue was down .6% on a year-over-year basis. Analysts forecast that Molson Coors Brewing will post $4.30 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were paid a dividend of $0.41 per share. The ex-dividend date was Tuesday, August 29th. This represents a $1.64 annualized dividend and a yield of 1.88%. Molson Coors Brewing ‘s dividend payout ratio is 16.38%.
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About Molson Coors Brewing
Molson Coors Brewing Company (MCBC) is a holding company. The Company operates as a brewer. The Company’s segments include MillerCoors LLC (United States segment), operating in the United States; Molson Coors Canada (Canada segment), operating in Canada; Molson Coors Europe (Europe segment), operating in Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, Republic of Ireland, Romania, Serbia, the United Kingdom and various other European countries; Molson Coors International (Molson Coors International segment), operating in various other countries, and Corporate.
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