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 on Thursday. $18.47 million flowed into the stock on the tick-up and $43.05 million flowed out of the stock on the tick-down, for a money net flow of $24.58 million out of the stock. Of all stocks tracked, Molson Coors Brewing had the 0th highest net out-flow for the day. Molson Coors Brewing traded up $0.36 for the day and closed at $101.01
TAP has been the subject of a number of recent research reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $134.00 price target (up previously from $119.00) on shares of Molson Coors Brewing in a research report on Sunday, June 12th. Susquehanna reaffirmed a “buy” rating and set a $130.00 price target on shares of Molson Coors Brewing in a research report on Tuesday, June 7th. Zacks Investment Research raised Molson Coors Brewing from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a research report on Wednesday, May 4th. Bryan, Garnier & Co raised Molson Coors Brewing to a “buy” rating in a research report on Friday, July 8th. Finally, Citigroup Inc. raised 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 research report on Friday, July 29th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $113.25.
The firm’s 50 day moving average price is $99.73 and its 200-day moving average price is $96.40. The firm has a market cap of $21.69 billion and a price-to-earnings ratio of 52.36.
Molson Coors Brewing (NYSE:TAP) last issued its earnings results on Tuesday, August 2nd. The company reported $1.11 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.11. During the same quarter in the previous year, the firm posted $1.41 earnings per share. The business earned $986.20 million during the quarter, compared to the consensus estimate of $970.25 million. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. On average, equities analysts expect that Molson Coors Brewing Co. will post $3.23 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be issued a $0.41 dividend. The ex-dividend date of this dividend is Monday, August 29th. This represents a $1.64 dividend on an annualized basis and a yield of 1.62%.
In other Molson Coors Brewing news, Director Andrew Thomas Molson sold 1,173 shares of Molson Coors Brewing stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $99.49, for a total value of $116,701.77. Following the completion of the sale, the director now directly owns 6,834 shares in the company, valued at $679,914.66. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Krishnan Anand sold 1,869 shares of Molson Coors Brewing stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $102.00, for a total value of $190,638.00. Following the completion of the sale, the chief executive officer now owns 26,777 shares of the company’s stock, valued at $2,731,254. The disclosure for this sale can be found here.
A number of large investors have recently made changes to their positions in the stock. Utah Retirement Systems boosted its stake in shares of Molson Coors Brewing by 0.8% in the fourth quarter. Utah Retirement Systems now owns 24,803 shares of the company’s stock worth $2,329,000 after buying an additional 200 shares during the period. American International Group Inc. boosted its stake in shares of Molson Coors Brewing by 1.5% in the fourth quarter. American International Group Inc. now owns 57,749 shares of the company’s stock worth $5,424,000 after buying an additional 852 shares during the period. Finally, State of Tennessee Treasury Department boosted its stake 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 worth $16,073,000 after buying an additional 46,836 shares during the period.
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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