Investors Sell Shares of Molson Coors Brewing Co. (TAP) on Strength (TAP)
Traders sold shares of Molson Coors Brewing Co. (NYSE:TAP) on strength during trading hours on Wednesday. $101.44 million flowed into the stock on the tick-up and $124.47 million flowed out of the stock on the tick-down, for a money net flow of $23.03 million out of the stock. Of all equities tracked, Molson Coors Brewing had the 0th highest net out-flow for the day. Molson Coors Brewing traded up $2.77 for the day and closed at $100.80
Several analysts recently weighed in on TAP shares. Stifel Nicolaus reissued a “buy” rating and set a $134.00 price target (up from $119.00) on shares of Molson Coors Brewing in a report on Sunday, June 12th. Bryan, Garnier & Co raised Molson Coors Brewing to a “buy” rating in a report on Friday, July 8th. Susquehanna reaffirmed a “buy” rating and issued a $130.00 price objective on shares of Molson Coors Brewing in a report on Tuesday, June 7th. Zacks Investment Research cut Molson Coors Brewing from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 5th. Finally, Citigroup Inc. initiated coverage on Molson Coors Brewing in a report on Friday, April 8th. They issued a “neutral” rating and a $97.00 price objective for the company. Three 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 company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $107.44.
The company’s 50 day moving average price is $100.76 and its 200-day moving average price is $94.49. The company has a market cap of $21.64 billion and a PE ratio of 43.85.
Molson Coors Brewing (NYSE:TAP) last released its quarterly earnings data on Tuesday, May 3rd. The company reported $0.54 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.11. During the same quarter in the prior year, the firm posted $0.56 EPS. The company earned $657.20 million during the quarter, compared to analysts’ expectations of $627.65 million. The firm’s quarterly revenue was down 6.1% on a year-over-year basis. Equities research analysts expect that Molson Coors Brewing Co. will post $3.25 earnings per share for the current fiscal year.
In related news, insider Brenda Davis sold 3,000 shares of the firm’s stock in a transaction dated Wednesday, May 4th. The stock was sold at an average price of $98.03, for a total value of $294,090.00. Following the sale, the insider now directly owns 9,798 shares of the company’s stock, valued at $960,497.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
Several hedge funds have bought and sold shares of TAP. PNC Financial Services Group Inc. boosted its stake in Molson Coors Brewing by 2.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 23,264 shares of the company’s stock valued at $2,184,000 after buying an additional 537 shares during the last quarter. ProShare Advisors LLC boosted its stake in Molson Coors Brewing by 8.5% in the fourth quarter. ProShare Advisors LLC now owns 23,099 shares of the company’s stock valued at $2,169,000 after buying an additional 1,802 shares during the last quarter. Vanguard Group Inc. boosted its stake in Molson Coors Brewing by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 12,841,937 shares of the company’s stock valued at $1,206,114,000 after buying an additional 385,470 shares during the last quarter. GAM Holding AG boosted its stake in Molson Coors Brewing by 2.4% in the fourth quarter. GAM Holding AG now owns 18,984 shares of the company’s stock valued at $1,783,000 after buying an additional 445 shares during the last quarter. Finally, BOKF NA boosted its stake in Molson Coors Brewing by 0.7% in the fourth quarter. BOKF NA now owns 72,504 shares of the company’s stock valued at $6,810,000 after buying an additional 491 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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