Brokerages Set Molson Coors Brewing Co. (TAP) PT at $124.86
Molson Coors Brewing Co. (NYSE:TAP) has earned a consensus rating of “Buy” from the ten brokerages that are presently covering the firm. One research analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month price objective among analysts that have updated their coverage on the stock in the last year is $126.75.
TAP has been the topic of a number of research reports. Zacks Investment Research cut Molson Coors Brewing from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, July 5th. Stifel Nicolaus reiterated a “top pick” rating on shares of Molson Coors Brewing in a research report on Wednesday, July 6th. Bryan, Garnier & Co upgraded Molson Coors Brewing to a “buy” rating in a research report on Friday, July 8th. Susquehanna reiterated a “buy” rating and set a $130.00 price target on shares of Molson Coors Brewing in a research report on Sunday, July 17th. Finally, Citigroup Inc. upgraded Molson Coors Brewing from a “neutral” rating to a “buy” rating and increased their price target for the stock from $101.00 to $115.00 in a research report on Friday, July 29th.
Shares of Molson Coors Brewing (NYSE:TAP) opened at 110.25 on Monday. The firm’s 50-day moving average price is $105.23 and its 200-day moving average price is $100.36. Molson Coors Brewing has a 52-week low of $80.78 and a 52-week high of $111.24. The stock has a market capitalization of $23.68 billion, a P/E ratio of 57.15 and a beta of 0.88.
Molson Coors Brewing (NYSE:TAP) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $1.11 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.11. The business had revenue of $986.20 million for the quarter, compared to analysts’ expectations of $970.25 million. Molson Coors Brewing had a return on equity of 8.21% and a net margin of 7.54%. The business’s quarterly revenue was down 1.9% on a year-over-year basis. During the same period in the prior year, the firm earned $1.41 EPS. Equities analysts forecast that Molson Coors Brewing will post $3.29 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date was Monday, August 29th. Molson Coors Brewing’s payout ratio is currently 88.65%.
In other Molson Coors Brewing news, CEO Krishnan Anand sold 1,869 shares of the stock in a transaction on Friday, July 29th. The stock was sold at an average price of $102.00, for a total transaction of $190,638.00. Following the completion of the transaction, the chief executive officer now directly owns 26,777 shares of the company’s stock, valued at approximately $2,731,254. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Andrew Thomas Molson sold 1,173 shares of the stock in a transaction 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 directly owns 6,834 shares of the company’s stock, valued at $679,914.66. The disclosure for this sale can be found here. Company insiders own 2.53% of the company’s stock.
A number of institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. raised its position in shares of 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. State Street Corp raised its stake 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 valued at $723,884,000 after buying an additional 1,247,903 shares in the last quarter. Wellington Management Group LLP raised its stake 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 valued at $681,965,000 after buying an additional 5,975,046 shares in the last quarter. Lazard Asset Management LLC raised its stake 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 valued at $629,357,000 after buying an additional 4,158,485 shares in the last quarter. Finally, BlackRock Institutional Trust Company N.A. raised its stake in Molson Coors Brewing by 0.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 4,529,768 shares of the company’s stock valued at $458,095,000 after buying an additional 33,754 shares in the last quarter. 77.65% of the stock is owned by hedge funds and other 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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