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.

TRADEMARK VIOLATION NOTICE: This story was originally published by The Cerbat Gem and is owned by of The Cerbat Gem. If you are viewing this story on another website, it was illegally copied and republished in violation of United States & international trademark & copyright law. The original version of this story can be viewed at https://www.thecerbatgem.com/2017/08/30/molson-coors-brewing-company-tap-stock-rating-upgraded-by-bidaskclub.html.

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.

Analyst Recommendations for Molson Coors Brewing  (NYSE:TAP)

Receive News & Stock Ratings for Molson Coors Brewing Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Molson Coors Brewing Company and related stocks with our FREE daily email newsletter.