A number of other analysts have also weighed in on TAP. Stifel Nicolaus restated a buy rating and set a $134.00 price objective (up from $119.00) on shares of Molson Coors Brewing in a research note on Sunday, June 12th. Zacks Investment Research lowered shares of Molson Coors Brewing from a strong-buy rating to a hold rating in a research note on Tuesday, July 5th. Bryan, Garnier & Co upgraded shares of Molson Coors Brewing to a buy rating in a research note on Friday, July 8th. Finally, Citigroup Inc. upgraded shares of Molson Coors Brewing from a neutral rating to a buy rating and raised their price objective for the company from $101.00 to $115.00 in a research note on Friday, July 29th. Two research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $117.50.
Shares of Molson Coors Brewing (NYSE:TAP) opened at 105.97 on Wednesday. The company has a market cap of $22.76 billion, a price-to-earnings ratio of 54.94 and a beta of 0.94. Molson Coors Brewing has a 52-week low of $78.17 and a 52-week high of $107.55. The stock has a 50 day moving average of $101.87 and a 200 day moving average of $98.93.
Molson Coors Brewing (NYSE:TAP) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $1.11 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.11. The company earned $986.20 million during the quarter, compared to analyst estimates of $970.25 million. Molson Coors Brewing had a net margin of 7.54% and a return on equity of 8.21%. Molson Coors Brewing’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same period last year, the business earned $1.41 EPS. On average, equities research analysts expect that Molson Coors Brewing will post $3.24 EPS for the current year.
The business also recently declared 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. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date was Monday, August 29th. Molson Coors Brewing’s payout ratio is presently 88.65%.
In related news, Director Andrew Thomas Molson sold 1,173 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $99.49, for a total value of $116,701.77. Following the transaction, the director now owns 6,834 shares of the company’s stock, valued at $679,914.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Krishnan Anand sold 13,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 7th. The stock was sold at an average price of $107.00, for a total transaction of $1,391,000.00. Following the completion of the transaction, the chief executive officer now directly owns 29,676 shares in the company, valued at approximately $3,175,332. The disclosure for this sale can be found here. Insiders own 2.53% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Molson Coors Brewing by 3.2% in the second quarter. Vanguard Group Inc. now owns 15,800,460 shares of the company’s stock worth $1,597,901,000 after buying an additional 494,251 shares during the last quarter. JPMorgan Chase & Co. increased its position in Molson Coors Brewing by 35.5% in the first quarter. JPMorgan Chase & Co. now owns 14,489,567 shares of the company’s stock worth $1,393,607,000 after buying an additional 3,798,161 shares during the last quarter. State Street Corp increased its position 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 during the last quarter. Wellington Management Group LLP increased its position 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 during the last quarter. Finally, Lazard Asset Management LLC increased its position 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 during the last quarter. 77.65% of the stock is currently owned by institutional investors.
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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