Equities research analysts at JPMorgan Chase & Co. started coverage on shares of Molson Coors Brewing Co (NYSE:TAP) in a research note issued on Tuesday, The Fly reports. The firm set a “neutral” rating on the stock.
Other research analysts have also issued research reports about the stock. Susquehanna Bancshares Inc set a $152.00 price target on shares of Molson Coors Brewing and gave the company a “buy” rating in a research note on Sunday, December 4th. Cowen and Company reaffirmed an “outperform” rating and issued a $120.00 price objective on shares of Molson Coors Brewing in a report on Monday, March 13th. Credit Suisse Group AG started coverage on shares of Molson Coors Brewing in a report on Monday, January 23rd. They issued a “neutral” rating and a $106.00 price objective on the stock. They noted that the move was a valuation call. Zacks Investment Research raised shares of Molson Coors Brewing from a “strong sell” rating to a “hold” rating in a report on Monday, February 20th. Finally, Stifel Nicolaus dropped their price objective on shares of Molson Coors Brewing from $117.00 to $113.00 and set a “buy” rating on the stock in a report on Tuesday, December 20th. Three investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $125.75.
Shares of Molson Coors Brewing (NYSE:TAP) opened at 98.64 on Tuesday. The stock’s 50 day moving average is $97.92 and its 200 day moving average is $100.86. The company has a market capitalization of $21.20 billion, a P/E ratio of 10.66 and a beta of 0.95. Molson Coors Brewing has a 12 month low of $89.40 and a 12 month high of $112.19.
Molson Coors Brewing (NYSE:TAP) last issued its quarterly earnings results on Tuesday, February 14th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.86 by $0.40. Molson Coors Brewing had a net margin of 11.48% and a return on equity of 7.21%. The company had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same quarter in the previous year, the company posted $0.49 EPS. The company’s revenue for the quarter was down 4.2% compared to the same quarter last year. On average, equities analysts predict that Molson Coors Brewing will post $6.33 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, March 15th. Investors of record on Tuesday, February 28th were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date of this dividend was Friday, February 24th. Molson Coors Brewing’s dividend payout ratio (DPR) is presently 60.74%.
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In related news, VP Brian Tabolt sold 1,806 shares of the stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $98.13, for a total transaction of $177,222.78. Following the sale, the vice president now directly owns 4,231 shares of the company’s stock, valued at $415,188.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 2.53% of the company’s stock.
A number of institutional investors have recently bought and sold shares of TAP. MU Investments Co. Ltd. bought a new position in shares of Molson Coors Brewing during the third quarter valued at about $114,000. Intellectus Partners LLC bought a new position in shares of Molson Coors Brewing during the fourth quarter valued at about $104,000. Highlander Capital Management LLC raised its position in shares of Molson Coors Brewing by 30.0% in the third quarter. Highlander Capital Management LLC now owns 1,300 shares of the company’s stock valued at $143,000 after buying an additional 300 shares during the period. MSI Financial Services Inc raised its position in shares of Molson Coors Brewing by 1.3% in the third quarter. MSI Financial Services Inc now owns 1,458 shares of the company’s stock valued at $160,000 after buying an additional 19 shares during the period. Finally, Parallel Advisors LLC bought a new position in shares of Molson Coors Brewing during the fourth quarter valued at about $162,000. Institutional investors own 80.12% of the company’s stock.
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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