Molson Coors Brewing Co. (NYSE:TAP) saw unusually-high trading volume on Friday . Approximately 1,582,479 shares were traded during mid-day trading, a decline of 7% from the previous session’s volume of 1,709,494 shares.The stock last traded at $98.37 and had previously closed at $98.76.

TAP has been the subject of several recent research reports. Citigroup Inc. initiated coverage on Molson Coors Brewing in a research note on Friday, April 8th. They issued a “neutral” rating and a $97.00 price objective for the company. Zacks Investment Research upgraded Molson Coors Brewing from a “strong sell” rating to a “hold” rating in a research note on Monday, April 4th. Susquehanna reiterated a “buy” rating and issued a $130.00 price objective on shares of Molson Coors Brewing in a research note on Tuesday, June 7th. Stifel Nicolaus reiterated a “buy” rating and issued a $134.00 price objective (up previously from $119.00) on shares of Molson Coors Brewing in a research note on Sunday, June 12th. Finally, Bryan, Garnier & Co upgraded Molson Coors Brewing to a “buy” rating in a research note on Friday, July 8th. Three investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $107.44.

The firm has a market cap of $21.15 billion and a price-to-earnings ratio of 42.86. The firm has a 50 day moving average of $100.83 and a 200 day moving average of $94.39.

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

In related news, CEO Krishnan Anand sold 2,260 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 34,167 shares in the company, valued at $3,348,366. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brenda Davis sold 3,000 shares of the company’s stock in a transaction on 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 transaction, the insider now owns 9,798 shares of the company’s stock, valued at $960,497.94. The disclosure for this sale can be found here.

A number of large investors have recently made changes to their positions in TAP. Advantus Capital Management Inc raised 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 valued at $1,431,000 after buying an additional 399 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Molson Coors Brewing by 22.6% in the fourth quarter. Victory Capital Management Inc. now owns 29,131 shares of the company’s stock valued at $2,736,000 after buying an additional 5,373 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its stake in shares of Molson Coors Brewing by 32.0% in the fourth quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. now owns 31,995 shares of the company’s stock valued at $3,005,000 after buying an additional 7,754 shares in the last quarter. Cowen Group Inc. purchased a new stake in shares of Molson Coors Brewing during the fourth quarter valued at approximately $1,310,000. Finally, Principal Financial Group Inc. raised its stake in shares of Molson Coors Brewing by 2.2% in the fourth quarter. Principal Financial Group Inc. now owns 226,964 shares of the company’s stock valued at $21,316,000 after buying an additional 4,887 shares in the last quarter.

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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