Traders Sell Molson Coors Brewing Company (TAP) on Strength (TAP)
Traders sold shares of Molson Coors Brewing Company (NYSE:TAP) on strength during trading hours on Monday. $22.07 million flowed into the stock on the tick-up and $54.41 million flowed out of the stock on the tick-down, for a money net flow of $32.34 million out of the stock. Of all companies tracked, Molson Coors Brewing had the 23rd highest net out-flow for the day. Molson Coors Brewing traded up $0.38 for the day and closed at $82.02
A number of equities analysts have commented on the stock. Cowen and Company restated a “hold” rating and issued a $96.00 target price on shares of Molson Coors Brewing in a research note on Friday, July 14th. UBS AG reaffirmed a “neutral” rating and set a $96.00 price target (down previously from $100.00) on shares of Molson Coors Brewing in a research note on Friday, June 9th. Susquehanna Bancshares Inc reiterated a “positive” rating and issued a $117.00 price target (up previously from $114.00) on shares of Molson Coors Brewing in a report on Wednesday, June 7th. Stifel Nicolaus reissued a “buy” rating and issued a $111.00 price objective on shares of Molson Coors Brewing in a research note on Friday, July 14th. Finally, BidaskClub cut Molson Coors Brewing from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 22nd. Two analysts have rated the stock with a sell rating, six have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $107.02.
The company has a 50-day moving average price of $87.40 and a 200 day moving average price of $90.79. The stock has a market capitalization of $17.66 billion, a price-to-earnings ratio of 8.19 and a beta of 0.89.
Molson Coors Brewing (NYSE:TAP) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $1.66 earnings per share 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 return on equity of 7.41% and a net margin of 19.78%. Molson Coors Brewing ‘s revenue for the quarter was down .6% compared to the same quarter last year. During the same quarter last year, the company earned $1.11 EPS. Analysts predict that Molson Coors Brewing Company will post $4.31 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend was Tuesday, August 29th. Molson Coors Brewing ‘s dividend payout ratio is presently 16.38%.
In related news, CEO Gavin Hattersley sold 17,215 shares of Molson Coors Brewing stock in a transaction that occurred on 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 in the company, valued at $9,118,042.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.76% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN grew its stake in shares of Molson Coors Brewing by 26.3% during the second quarter. Wells Fargo & Company MN now owns 2,581,382 shares of the company’s stock worth $222,877,000 after purchasing an additional 537,767 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its holdings in Molson Coors Brewing by 3.2% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 573,970 shares of the company’s stock worth $49,557,000 after buying an additional 17,562 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Molson Coors Brewing by 1.3% during the 2nd quarter. Principal Financial Group Inc. now owns 279,587 shares of the company’s stock worth $24,140,000 after buying an additional 3,476 shares during the last quarter. Delta Lloyd Asset Management N.V. purchased a new stake in Molson Coors Brewing during the 2nd quarter worth about $2,811,000. Finally, FIL Ltd lifted its holdings in Molson Coors Brewing by 1.9% during the 1st quarter. FIL Ltd now owns 6,481,958 shares of the company’s stock worth $620,388,000 after buying an additional 119,127 shares during the last quarter. Institutional investors and hedge funds own 78.32% 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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