Traders Buy Molson Coors Brewing Co. (TAP) on Weakness
Investors bought shares of Molson Coors Brewing Co. (NYSE:TAP) on weakness during trading on Tuesday. $43.17 million flowed into the stock on the tick-up and $26.66 million flowed out of the stock on the tick-down, for a money net flow of $16.51 million into the stock. Of all companies tracked, Molson Coors Brewing had the 19th highest net in-flow for the day. Molson Coors Brewing traded down ($1.08) for the day and closed at $98.03
TAP has been the topic of a number of research analyst reports. Zacks Investment Research upgraded shares of Molson Coors Brewing from a “strong sell” rating to a “hold” rating in a report on Monday, April 4th. Citigroup Inc. initiated coverage on shares of Molson Coors Brewing in a report on Friday, April 8th. They issued a “neutral” rating and a $97.00 price target on the stock. Susquehanna restated a “buy” rating and issued a $126.00 price target on shares of Molson Coors Brewing in a report on Tuesday, May 3rd. Finally, Stifel Nicolaus upped their price target on shares of Molson Coors Brewing from $115.00 to $119.00 and gave the stock a “buy” rating in a report on Wednesday, May 4th. Three research analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $107.44.
The firm has a market capitalization of $21.05 billion and a P/E ratio of 42.64. The firm has a 50 day moving average price of $100.72 and a 200-day moving average price of $94.44.
Molson Coors Brewing (NYSE:TAP) last announced its quarterly earnings data on Tuesday, May 3rd. The company reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.11. The firm earned $657.20 million during the quarter, compared to analysts’ expectations of $627.65 million. During the same quarter in the previous year, the business posted $0.56 EPS. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. On average, equities research analysts anticipate that Molson Coors Brewing Co. will post $3.25 EPS for the current year.
In other Molson Coors Brewing news, insider Brenda Davis sold 3,000 shares of the firm’s stock in a transaction on Wednesday, May 4th. The stock was sold at an average price of $98.03, for a total value of $294,090.00. Following the transaction, the insider now owns 9,798 shares in the company, valued at approximately $960,497.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
A number of hedge funds and institutional investors have recently made changes to their positions in TAP. Advantus Capital Management Inc raised its position 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 last quarter. Victory Capital Management Inc. raised its position 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 worth $2,736,000 after buying an additional 5,373 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. raised its position 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 worth $3,005,000 after buying an additional 7,754 shares during the last quarter. Cowen Group Inc. purchased a new position in shares of Molson Coors Brewing during the fourth quarter worth $1,310,000. Finally, Principal Financial Group Inc. raised its position 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 worth $21,316,000 after buying an additional 4,887 shares during 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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