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

A number of analysts have recently weighed in on TAP shares. Susquehanna reaffirmed a “buy” rating and set a $130.00 price target on shares of Molson Coors Brewing in a report on Sunday, July 17th. Citigroup Inc. raised shares of Molson Coors Brewing from a “neutral” rating to a “buy” rating and upped their price target for the stock from $101.00 to $115.00 in a report on Friday. Zacks Investment Research raised shares of Molson Coors Brewing from a “hold” rating to a “buy” rating and set a $110.00 price objective for the company in a research note on Wednesday, May 4th. Stifel Nicolaus increased their price objective on shares of Molson Coors Brewing from $115.00 to $119.00 and gave the company a “buy” rating in a research note on Wednesday, May 4th. Finally, Bryan, Garnier & Co raised shares of 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 given a buy rating and one has assigned a strong buy rating to the stock. Molson Coors Brewing has a consensus rating of “Buy” and an average price target of $109.44.

The stock’s 50-day moving average is $100.07 and its 200-day moving average is $94.89. The firm has a market capitalization of $21.93 billion and a PE ratio of 44.44.

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

The company also recently disclosed 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 related news, insider Brenda Davis sold 3,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 4th. The shares were sold at an average price of $98.03, for a total transaction 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink.

A number of institutional investors have recently modified their holdings of the stock. Eaton Vance Management boosted its position 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 in the last quarter. Zweig DiMenna Associates LLC boosted its position 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 in the last quarter. WBI Investments Inc. purchased a new position in shares of Molson Coors Brewing during the fourth quarter valued at approximately $22,817,000. Principal Financial Group Inc. boosted 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 valued at $21,316,000 after buying an additional 4,887 shares in the last quarter. Finally, State of Tennessee Treasury Department boosted its position in shares of Molson Coors Brewing by 37.7% in the fourth quarter. State of Tennessee Treasury Department now owns 171,136 shares of the company’s stock valued at $16,073,000 after buying an additional 46,836 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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