Molson Coors Brewing Company (TAP) CEO Sells $1,582,058.50 in Stock
Molson Coors Brewing Company (NYSE:TAP) CEO Gavin Hattersley sold 17,215 shares of the stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $91.90, for a total value of $1,582,058.50. Following the completion of the transaction, the chief executive officer now owns 99,217 shares of the company’s stock, valued at $9,118,042.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Molson Coors Brewing Company (TAP) traded down 0.24% during midday trading on Friday, reaching $89.74. The company had a trading volume of 1,091,526 shares. Molson Coors Brewing Company has a one year low of $85.34 and a one year high of $112.19. The company has a 50-day moving average price of $88.69 and a 200-day moving average price of $93.29. The stock has a market capitalization of $19.32 billion, a price-to-earnings ratio of 8.97 and a beta of 0.91.
Molson Coors Brewing (NYSE:TAP) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.04 by $0.38. Molson Coors Brewing had a net margin of 19.78% and a return on equity of 7.41%. The business had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter in the prior year, the firm earned $1.11 EPS. The firm’s revenue for the quarter was down .6% on a year-over-year basis. On average, equities analysts expect that Molson Coors Brewing Company will post $4.31 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.83%. Molson Coors Brewing ‘s dividend payout ratio (DPR) is 16.38%.
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Hedge funds and other institutional investors have recently bought and sold shares of the company. Round Table Services LLC increased its position in Molson Coors Brewing by 14.3% in the first quarter. Round Table Services LLC now owns 2,746 shares of the company’s stock worth $263,000 after buying an additional 343 shares during the period. Quantitative Systematic Strategies LLC purchased a new position in Molson Coors Brewing during the first quarter worth $260,000. Bank of The West increased its position in Molson Coors Brewing by 34.0% in the first quarter. Bank of The West now owns 23,754 shares of the company’s stock worth $2,273,000 after buying an additional 6,026 shares during the period. DnB Asset Management AS increased its position in Molson Coors Brewing by 5.0% in the first quarter. DnB Asset Management AS now owns 106,523 shares of the company’s stock worth $10,195,000 after buying an additional 5,100 shares during the period. Finally, Addison Capital Co purchased a new position in Molson Coors Brewing during the first quarter worth $432,000. Hedge funds and other institutional investors own 78.58% of the company’s stock.
Several equities research analysts have recently weighed in on TAP shares. Cowen and Company reissued a “hold” rating and issued a $96.00 price target on shares of Molson Coors Brewing in a research note on Friday, July 14th. Susquehanna Bancshares Inc set a $114.00 price target on Molson Coors Brewing and gave the company a “buy” rating in a research note on Saturday, June 3rd. Credit Suisse Group set a $96.00 price target on Molson Coors Brewing and gave the company a “hold” rating in a research note on Thursday, August 3rd. Vetr raised Molson Coors Brewing from a “buy” rating to a “strong-buy” rating and set a $103.20 price target for the company in a research note on Wednesday, May 3rd. Finally, UBS AG reissued a “neutral” rating and issued a $96.00 price target (down previously from $100.00) on shares of Molson Coors Brewing in a research note on Friday, June 9th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $111.60.
Molson Coors Brewing Company Profile
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.
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