Molson Coors Brewing Co. (NYSE:TAP) shares traded down 2.4% on Thursday . The stock traded as low as $98.60 and last traded at $98.76, with a volume of 2,856,816 shares traded. The stock had previously closed at $101.20.

Several research analysts have recently weighed in on the stock. Susquehanna reissued a “buy” rating and issued a $126.00 target price on shares of Molson Coors Brewing in a research report on Tuesday, May 3rd. Stifel Nicolaus reissued a “top pick” rating on shares of Molson Coors Brewing in a research report on Wednesday, July 6th. Zacks Investment Research raised shares of Molson Coors Brewing from a “hold” rating to a “buy” rating and set a $108.00 target price on the stock in a research report on Tuesday, April 19th. Citigroup Inc. assumed coverage on shares of Molson Coors Brewing in a research report on Friday, April 8th. They issued a “neutral” rating and a $97.00 target price on the stock. Finally, Bryan, Garnier & Co raised shares of Molson Coors Brewing to a “buy” rating in a research report on Friday, July 8th. Three equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $107.44.

The firm has a market capitalization of $21.15 billion and a PE ratio of 42.86. The stock’s 50 day moving average price is $100.83 and its 200-day moving average price is $94.39.

Molson Coors Brewing (NYSE:TAP) last released its earnings results on Tuesday, May 3rd. The company reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.11. During the same quarter in the previous year, the company posted $0.56 earnings per share. The business had revenue of $657.20 million for the quarter, compared to analyst estimates of $627.65 million. The business’s revenue for the quarter was down 6.1% on a year-over-year basis. On average, equities analysts predict that Molson Coors Brewing Co. will post $3.27 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Thursday, June 16th. Shareholders of record on Monday, June 6th were given a dividend of $0.41 per share. The ex-dividend date was Thursday, June 2nd. This represents a $1.64 dividend on an annualized basis and a yield of 1.66%.

In other news, CEO Krishnan Anand sold 2,260 shares of the company’s stock in a transaction dated Tuesday, April 19th. The stock was sold at an average price of $98.00, for a total value of $221,480.00. Following the completion of the sale, the chief executive officer now directly owns 34,167 shares of the company’s stock, valued at approximately $3,348,366. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Brenda Davis sold 3,000 shares of the company’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $98.03, for a total value of $294,090.00. Following the completion of the sale, the insider now directly owns 9,798 shares of the company’s stock, valued at $960,497.94. The disclosure for this sale can be found here.

Other hedge funds recently made changes to their positions in the company. Cowen Group Inc. bought a new stake in shares of Molson Coors Brewing during the fourth quarter worth approximately $1,310,000. Advantus Capital Management Inc boosted its stake in shares of Molson Coors Brewing by 2.7% in the fourth quarter. Advantus Capital Management Inc now owns 15,233 shares of the company’s stock worth $1,431,000 after buying an additional 399 shares during the period. BP PLC bought a new stake in shares of Molson Coors Brewing during the fourth quarter worth approximately $1,503,000. Commerzbank Aktiengesellschaft FI boosted its stake in shares of Molson Coors Brewing by 74.9% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 16,881 shares of the company’s stock worth $1,585,000 after buying an additional 7,229 shares during the period. Finally, GAM Holding AG boosted its stake in shares of Molson Coors Brewing by 2.4% in the fourth quarter. GAM Holding AG now owns 18,984 shares of the company’s stock worth $1,783,000 after buying an additional 445 shares during the period.

Molson Coors Brewing Company (MCBC) is a holding company that operates as a brewer. The Company has a portfolio of brands, including Carling, Coors Light, Molson Canadian and Staropramen, as well as craft and specialty beers, such as Blue Moon, Creemore Springs, Cobra and Doom Bar. The Company operates through four segments: Molson Coors Canada (MCC or Canada segment); MillerCoors LLC (MillerCoors or U.S.

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