Molson Coors Brewing Co. (NYSE:TAP) shares shot up 4.6% during trading on Thursday . The company traded as high as $98.72 and last traded at $97.45, with a volume of 6,579,989 shares changing hands. The stock had previously closed at $93.13.

A number of brokerages recently commented on TAP. Susquehanna reaffirmed a “buy” rating and issued a $130.00 price target on shares of Molson Coors Brewing in a report on Wednesday. Zacks Investment Research downgraded shares of Molson Coors Brewing from a “buy” rating to a “hold” rating in a report on Tuesday. Bryan, Garnier & Co raised shares of Molson Coors Brewing to a “buy” rating in a research report on Friday, July 8th. Finally, Stifel Nicolaus reissued a “top pick” rating on shares of Molson Coors Brewing in a research report on Wednesday, July 6th. Four equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $107.44.

The company has a market cap of $20.99 billion and a price-to-earnings ratio of 42.52. The company has a 50-day moving average price of $100.11 and a 200 day moving average price of $94.79.

Molson Coors Brewing (NYSE:TAP) last released its earnings results on Tuesday, May 3rd. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.11. The company had revenue of $657.20 million for the quarter, compared to analysts’ expectations of $627.65 million. The firm’s revenue for the quarter was down 6.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.56 EPS. On average, equities research analysts anticipate that Molson Coors Brewing Co. will post $3.25 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Monday, August 29th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.68%.

In related news, insider Brenda Davis sold 3,000 shares of the business’s stock in a transaction dated Wednesday, May 4th. The shares were sold at an average price of $98.03, for a total transaction of $294,090.00. Following the transaction, the insider now directly owns 9,798 shares in the company, valued at $960,497.94. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

A number of institutional investors have bought and sold shares of TAP. Cowen Group Inc. acquired a new position in Molson Coors Brewing during the fourth quarter worth $1,310,000. Advantus Capital Management Inc raised its position in 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. BP PLC acquired a new position in Molson Coors Brewing during the fourth quarter worth $1,503,000. GAM Holding AG raised its position in 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 last quarter. Finally, PNC Financial Services Group Inc. raised its position 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 worth $2,184,000 after buying an additional 537 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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