Research analysts at Deutsche Bank assumed coverage on shares of Molson Coors Brewing (NYSE:TAP) in a research report issued on Wednesday, The Fly reports. The firm set a “buy” rating on the stock.
Other analysts have also recently issued research reports about the stock. Citigroup lowered their price objective on shares of Molson Coors Brewing from $106.00 to $102.00 and set a “buy” rating for the company in a research report on Friday, November 3rd. Susquehanna Bancshares set a $108.00 price objective on shares of Molson Coors Brewing and gave the company a “buy” rating in a research report on Wednesday, November 1st. BidaskClub upgraded shares of Molson Coors Brewing from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Zacks Investment Research upgraded shares of Molson Coors Brewing from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. Finally, Credit Suisse Group set a $92.00 price objective on shares of Molson Coors Brewing and gave the company a “hold” rating in a research report on Friday, September 29th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. Molson Coors Brewing currently has an average rating of “Hold” and a consensus price target of $98.92.
Molson Coors Brewing (NYSE:TAP) traded down $0.65 on Wednesday, hitting $79.50. 931,250 shares of the company were exchanged, compared to its average volume of 1,586,045. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.54 and a current ratio of 0.69. Molson Coors Brewing has a 1-year low of $76.25 and a 1-year high of $102.14. The company has a market cap of $17,402.17, a PE ratio of 19.15, a P/E/G ratio of 2.37 and a beta of 0.83.
In other Molson Coors Brewing news, CFO Tracey Joubert sold 1,000 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $79.15, for a total transaction of $79,150.00. Following the completion of the transaction, the chief financial officer now owns 22,839 shares in the company, valued at approximately $1,807,706.85. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 2.76% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Molson Coors Brewing by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,719 shares of the company’s stock worth $1,184,000 after purchasing an additional 42 shares in the last quarter. Utah Retirement Systems boosted its stake in shares of Molson Coors Brewing by 0.3% during the 2nd quarter. Utah Retirement Systems now owns 31,603 shares of the company’s stock worth $2,729,000 after buying an additional 100 shares during the last quarter. State of Tennessee Treasury Department boosted its stake in shares of Molson Coors Brewing by 0.3% during the 2nd quarter. State of Tennessee Treasury Department now owns 50,506 shares of the company’s stock worth $4,361,000 after buying an additional 130 shares during the last quarter. Bessemer Group Inc. boosted its stake in shares of Molson Coors Brewing by 12.8% during the 2nd quarter. Bessemer Group Inc. now owns 1,230 shares of the company’s stock worth $106,000 after buying an additional 140 shares during the last quarter. Finally, Bahl & Gaynor Inc. boosted its stake in shares of Molson Coors Brewing by 6.5% during the 2nd quarter. Bahl & Gaynor Inc. now owns 2,650 shares of the company’s stock worth $258,000 after buying an additional 161 shares during the last quarter. Hedge funds and other institutional investors own 78.00% of the company’s stock.
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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.
