Berenberg Bank Upgrades Molson Coors Brewing (TAP) to Hold

Molson Coors Brewing (NYSE:TAP) was upgraded by equities researchers at Berenberg Bank from a “sell” rating to a “hold” rating in a research note issued on Thursday, Marketbeat.com reports. The firm currently has a $78.00 price objective on the stock. Berenberg Bank’s price objective points to a potential upside of 5.11% from the stock’s current price.

A number of other brokerages also recently weighed in on TAP. Zacks Investment Research downgraded shares of Molson Coors Brewing from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Deutsche Bank started coverage on shares of Molson Coors Brewing in a research report on Wednesday, December 13th. They set a “buy” rating and a $89.00 price objective for the company. Susquehanna Bancshares reaffirmed a “buy” rating on shares of Molson Coors Brewing in a research report on Wednesday, October 11th. Barclays started coverage on shares of Molson Coors Brewing in a research report on Wednesday, January 10th. They set an “overweight” rating and a $94.00 price objective for the company. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $112.00 price objective on shares of Molson Coors Brewing in a research report on Friday, February 2nd. Nine investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Molson Coors Brewing has an average rating of “Buy” and a consensus price target of $96.68.

Shares of Molson Coors Brewing (NYSE TAP) traded down $0.30 during trading hours on Thursday, hitting $74.21. 2,405,113 shares of the company were exchanged, compared to its average volume of 1,305,603. The company has a current ratio of 0.69, a quick ratio of 0.54 and a debt-to-equity ratio of 0.83. Molson Coors Brewing has a twelve month low of $72.71 and a twelve month high of $102.14. The company has a market cap of $15,984.83, a P/E ratio of 17.59, a PEG ratio of 1.99 and a beta of 0.79.

In other Molson Coors Brewing news, CFO Tracey Joubert sold 1,000 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were 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 directly owns 22,839 shares of the company’s stock, valued at approximately $1,807,706.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Peter H. Coors sold 55,603 shares of the business’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $85.01, for a total transaction of $4,726,811.03. Following the transaction, the chairman now directly owns 319,222 shares of the company’s stock, valued at $27,137,062.22. The disclosure for this sale can be found here. Insiders own 2.76% of the company’s stock.

A number of institutional investors have recently bought and sold shares of the business. BlackRock Inc. boosted its stake in Molson Coors Brewing by 3.4% during the 4th quarter. BlackRock Inc. now owns 11,435,122 shares of the company’s stock valued at $938,480,000 after purchasing an additional 380,133 shares during the period. Independent Franchise Partners LLP lifted its stake in shares of Molson Coors Brewing by 19.8% in the 3rd quarter. Independent Franchise Partners LLP now owns 6,161,014 shares of the company’s stock worth $502,985,000 after acquiring an additional 1,017,035 shares during the period. Wells Fargo & Company MN lifted its stake in shares of Molson Coors Brewing by 12.9% in the 4th quarter. Wells Fargo & Company MN now owns 3,595,387 shares of the company’s stock worth $295,074,000 after acquiring an additional 410,058 shares during the period. Diamond Hill Capital Management Inc. lifted its stake in shares of Molson Coors Brewing by 17.6% in the 3rd quarter. Diamond Hill Capital Management Inc. now owns 3,090,431 shares of the company’s stock worth $252,303,000 after acquiring an additional 462,823 shares during the period. Finally, Epoch Investment Partners Inc. lifted its stake in shares of Molson Coors Brewing by 852.1% in the 3rd quarter. Epoch Investment Partners Inc. now owns 2,428,882 shares of the company’s stock worth $198,294,000 after acquiring an additional 2,173,761 shares during the period. 77.77% of the stock is owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION WARNING: This piece of content was originally published by American Banking News and is the sole property of of American Banking News. If you are accessing this piece of content on another site, it was stolen and republished in violation of international copyright and trademark law. The correct version of this piece of content can be accessed at https://www.americanbankingnews.com/2018/02/11/berenberg-bank-upgrades-molson-coors-brewing-tap-to-hold.html.

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.

Analyst Recommendations for Molson Coors Brewing (NYSE:TAP)

Receive News & Ratings for Molson Coors Brewing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Molson Coors Brewing and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply