Molson Coors Brewing Co. (TAP) CEO Sells $585,100.00 in Stock
Molson Coors Brewing Co. (NYSE:TAP) CEO Mark Hunter sold 5,851 shares of the stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $100.00, for a total value of $585,100.00. Following the completion of the transaction, the chief executive officer now directly owns 80,785 shares in the company, valued at $8,078,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Molson Coors Brewing Co. (NYSE:TAP) opened at 99.74 on Friday. The firm’s 50-day moving average price is $104.38 and its 200-day moving average price is $102.10. Molson Coors Brewing Co. has a 12 month low of $80.78 and a 12 month high of $112.19. The stock has a market cap of $21.43 billion, a P/E ratio of 36.01 and a beta of 0.98.
Molson Coors Brewing (NYSE:TAP) last posted its earnings results on Tuesday, November 1st. The company reported $1.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.05 by $0.02. Molson Coors Brewing had a net margin of 11.48% and a return on equity of 7.21%. The firm earned $947.60 million during the quarter, compared to analysts’ expectations of $985.75 million. During the same period in the previous year, the firm posted $1.40 earnings per share. The firm’s revenue for the quarter was down 6.9% on a year-over-year basis. On average, analysts predict that Molson Coors Brewing Co. will post $5.74 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Stockholders of record on Wednesday, November 30th will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Monday, November 28th. Molson Coors Brewing’s payout ratio is currently 60.74%.
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Hedge funds have recently bought and sold shares of the stock. MU Investments Co. Ltd. purchased a new stake in Molson Coors Brewing during the third quarter valued at $114,000. CENTRAL TRUST Co increased its stake in Molson Coors Brewing by 1,000.0% in the second quarter. CENTRAL TRUST Co now owns 1,100 shares of the company’s stock valued at $111,000 after buying an additional 1,000 shares during the last quarter. Highlander Capital Management LLC increased its stake in 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 last quarter. Global X Management Co. LLC increased its stake in Molson Coors Brewing by 68.2% in the second quarter. Global X Management Co. LLC now owns 1,401 shares of the company’s stock valued at $142,000 after buying an additional 568 shares during the last quarter. Finally, MSI Financial Services Inc increased its stake in 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 last quarter. 76.60% of the stock is owned by institutional investors and hedge funds.
A number of research analysts have recently weighed in on the company. Susquehanna increased their price objective on Molson Coors Brewing from $129.00 to $159.00 and gave the company a “positive” rating in a report on Wednesday, September 21st. Stifel Nicolaus raised their target price on Molson Coors Brewing from $136.00 to $139.00 and gave the stock a “buy” rating in a report on Wednesday, August 3rd. Goldman Sachs Group Inc. began coverage on Molson Coors Brewing in a report on Monday, October 10th. They set a “buy” rating and a $130.00 target price on the stock. Citigroup Inc. raised their target price on Molson Coors Brewing from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, September 19th. Finally, Zacks Investment Research raised Molson Coors Brewing from a “hold” rating to a “strong-buy” rating and set a $125.00 target price on the stock in a report on Tuesday, October 4th. Two investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $129.71.
Molson Coors Brewing Company Profile
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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