Molson Coors Brewing Company (TAP) Stock Rating Upgraded by BidaskClub
BidaskClub upgraded shares of Molson Coors Brewing Company (NYSE:TAP) from a sell rating to a hold rating in a research report released on Saturday.
TAP has been the subject of a number of other reports. Cowen and Company reissued a market perform rating and set a $100.00 price target on shares of Molson Coors Brewing in a research report on Wednesday, May 31st. Susquehanna Bancshares Inc reaffirmed a buy rating on shares of Molson Coors Brewing in a report on Wednesday, August 2nd. UBS AG reaffirmed a neutral rating and set a $98.00 target price (up from $96.00) on shares of Molson Coors Brewing in a report on Wednesday, August 9th. Credit Suisse Group set a $96.00 target price on shares of Molson Coors Brewing and gave the company a hold rating in a report on Thursday, August 3rd. Finally, Stifel Nicolaus reaffirmed a buy rating and set a $111.00 target price on shares of Molson Coors Brewing in a report on Friday, July 14th. One research analyst has rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of Hold and an average target price of $111.68.
Shares of Molson Coors Brewing (NYSE:TAP) opened at 89.39 on Friday. The company has a market capitalization of $19.25 billion, a P/E ratio of 8.93 and a beta of 0.91. Molson Coors Brewing has a 12 month low of $85.34 and a 12 month high of $112.19. The firm has a 50-day moving average of $89.10 and a 200-day moving average of $93.05.
Molson Coors Brewing (NYSE:TAP) last posted 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 return on equity of 7.41% and a net margin of 19.78%. The business had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same period in the prior year, the business posted $1.11 earnings per share. The business’s quarterly revenue was down .6% compared to the same quarter last year. On average, equities analysts predict that Molson Coors Brewing will post $4.30 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.64 annualized dividend and a yield of 1.83%. Molson Coors Brewing ‘s dividend payout ratio (DPR) is presently 16.38%.
In other Molson Coors Brewing news, CEO Gavin Hattersley sold 17,215 shares of Molson Coors Brewing stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $91.90, for a total transaction of $1,582,058.50. Following the sale, the chief executive officer now owns 99,217 shares of the company’s stock, valued at approximately $9,118,042.30. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Insiders own 2.76% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the company. FMR LLC raised its position in Molson Coors Brewing by 3.2% in the second quarter. FMR LLC now owns 18,229,807 shares of the company’s stock valued at $1,573,961,000 after buying an additional 562,180 shares in the last quarter. Vanguard Group Inc. raised its position in Molson Coors Brewing by 2.5% in the second quarter. Vanguard Group Inc. now owns 17,735,626 shares of the company’s stock valued at $1,531,294,000 after buying an additional 429,859 shares in the last quarter. JPMorgan Chase & Co. raised its position in Molson Coors Brewing by 33.2% in the second quarter. JPMorgan Chase & Co. now owns 16,058,334 shares of the company’s stock valued at $1,386,476,000 after buying an additional 4,001,480 shares in the last quarter. BlackRock Inc. raised its position in Molson Coors Brewing by 1.9% in the second quarter. BlackRock Inc. now owns 10,875,972 shares of the company’s stock valued at $939,033,000 after buying an additional 199,962 shares in the last quarter. Finally, Lazard Asset Management LLC raised its position in 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 valued at $909,928,000 after buying an additional 2,616,561 shares in the last quarter. Institutional investors and hedge funds own 78.33% of the company’s stock.
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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