Molson Coors Brewing Company (TAP) Given a $118.00 Price Target by Susquehanna Bancshares Inc Analysts
TAP has been the topic of several other reports. Cowen and Company reaffirmed a hold rating and set a $96.00 price objective on shares of Molson Coors Brewing in a report on Friday, July 14th. Credit Suisse Group set a $96.00 price objective on shares of Molson Coors Brewing and gave the company a hold rating in a report on Thursday, August 3rd. Vetr raised shares of Molson Coors Brewing from a buy rating to a strong-buy rating and set a $103.20 price objective on the stock in a report on Wednesday, May 3rd. UBS AG reaffirmed a neutral rating and set a $96.00 price objective (down from $100.00) on shares of Molson Coors Brewing in a report on Friday, June 9th. Finally, BidaskClub raised shares of Molson Coors Brewing from a sell rating to a hold rating in a report on Saturday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. Molson Coors Brewing currently has an average rating of Hold and a consensus price target of $111.68.
Molson Coors Brewing (TAP) opened at 89.39 on Tuesday. The stock has a market cap of $19.25 billion, a P/E ratio of 8.93 and a beta of 0.91. The company has a 50-day moving average price of $89.10 and a 200 day moving average price of $93.05. Molson Coors Brewing has a 1-year low of $85.34 and a 1-year high of $112.19.
Molson Coors Brewing (NYSE:TAP) last posted its quarterly earnings data on Wednesday, August 2nd. The company reported $1.66 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $2.04 by $0.38. The company had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.10 billion. Molson Coors Brewing had a net margin of 19.78% and a return on equity of 7.41%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the business earned $1.11 earnings per share. Equities analysts expect that Molson Coors Brewing will post $4.30 earnings per share for the current fiscal year.
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The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 1.83%. The ex-dividend date is Tuesday, August 29th. Molson Coors Brewing ‘s dividend payout ratio is currently 16.38%.
In other news, CEO Gavin Hattersley sold 17,215 shares of the firm’s 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 transaction, the chief executive officer now directly owns 99,217 shares of the company’s stock, valued at $9,118,042.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.76% of the company’s stock.
Several institutional investors have recently bought and sold shares of TAP. FMR LLC increased its position in shares of Molson Coors Brewing by 3.2% in the second quarter. FMR LLC now owns 18,229,807 shares of the company’s stock worth $1,573,961,000 after buying an additional 562,180 shares during the period. Vanguard Group Inc. increased its position in shares of Molson Coors Brewing by 2.5% in the second quarter. Vanguard Group Inc. now owns 17,735,626 shares of the company’s stock worth $1,531,294,000 after buying an additional 429,859 shares during the period. JPMorgan Chase & Co. increased its position in shares of Molson Coors Brewing by 33.2% in the second quarter. JPMorgan Chase & Co. now owns 16,058,334 shares of the company’s stock worth $1,386,476,000 after buying an additional 4,001,480 shares during the period. BlackRock Inc. increased its position in shares of Molson Coors Brewing by 1.9% in the second quarter. BlackRock Inc. now owns 10,875,972 shares of the company’s stock worth $939,033,000 after buying an additional 199,962 shares during the period. Finally, Lazard Asset Management LLC increased its position in shares of Molson Coors Brewing by 33.0% in the second quarter. Lazard Asset Management LLC now owns 10,538,919 shares of the company’s stock worth $909,928,000 after buying an additional 2,616,561 shares during the period. 78.33% of the stock is currently owned by hedge funds and other institutional investors.
About Molson Coors Brewing
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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