Shares of Molson Coors Brewing Co. (NYSE:TAP) gapped up prior to trading on Friday . The stock had previously closed at $97.23, but opened at $97.75. Molson Coors Brewing shares last traded at $102.17, with a volume of 8,642,196 shares.

A number of analysts recently issued reports on TAP shares. Citigroup Inc. assumed 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 Sunday, July 17th. 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 research analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $109.44.

The company has a 50 day moving average price of $100.07 and a 200-day moving average price of $94.89. The stock has a market cap of $21.93 billion and a P/E ratio of 44.44.

Molson Coors Brewing (NYSE:TAP) last posted its quarterly earnings data on Tuesday, May 3rd. The company reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.11. During the same quarter in the previous year, the firm posted $0.56 earnings per share. The business earned $657.20 million during the quarter, compared to the consensus estimate of $627.65 million. The company’s revenue for the quarter was down 6.1% on a year-over-year basis. Analysts predict that Molson Coors Brewing Co. will post $3.25 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 31st will be paid a dividend of $0.41 per share. The ex-dividend date is Monday, August 29th. This represents a $1.64 annualized dividend and a yield of 1.61%.

In other news, insider Brenda Davis sold 3,000 shares of the business’s stock in a transaction that occurred 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 directly owns 9,798 shares of the company’s stock, valued at approximately $960,497.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Several hedge funds have modified their holdings of TAP. Zweig DiMenna Associates LLC boosted its stake in shares of Molson Coors Brewing by 164.7% in the fourth quarter. Zweig DiMenna Associates LLC now owns 434,795 shares of the company’s stock valued at $40,836,000 after buying an additional 270,545 shares during the last quarter. Eaton Vance Management boosted its stake in shares of Molson Coors Brewing by 38.5% in the fourth quarter. Eaton Vance Management now owns 904,323 shares of the company’s stock valued at $84,934,000 after buying an additional 251,399 shares during the last quarter. WBI Investments Inc. acquired a new stake in shares of Molson Coors Brewing during the fourth quarter valued at approximately $22,817,000. Catalyst Capital Advisors LLC boosted its stake in shares of Molson Coors Brewing by 520.2% in the fourth quarter. Catalyst Capital Advisors LLC now owns 107,300 shares of the company’s stock valued at $10,077,000 after buying an additional 90,000 shares during the last quarter. Finally, Cornerstone Capital Management Holdings LLC. boosted its stake in shares of Molson Coors Brewing by 179.2% in the fourth quarter. Cornerstone Capital Management Holdings LLC. now owns 111,142 shares of the company’s stock valued at $10,438,000 after buying an additional 71,339 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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