Investors Sell Shares of Molson Coors Brewing Co. (TAP) on Strength (TAP)
Investors 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
A number of equities analysts have recently commented on TAP shares. Susquehanna restated a “buy” rating and issued a $130.00 price objective on shares of Molson Coors Brewing in a research report on Sunday, July 17th. Citigroup Inc. raised shares of Molson Coors Brewing from a “neutral” rating to a “buy” rating and raised their target price for the company from $101.00 to $115.00 in a research note on Friday, July 29th. Zacks Investment Research raised shares of Molson Coors Brewing from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a research note on Wednesday, May 4th. Stifel Nicolaus raised their target price 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. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $113.25.
The firm has a market cap of $21.88 billion and a PE ratio of 52.81. The company has a 50-day moving average of $99.79 and a 200-day moving average of $96.53.
Molson Coors Brewing (NYSE:TAP) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $1.11 EPS for the quarter, meeting the consensus estimate of $1.11. During the same period last year, the business earned $1.41 earnings per share. The company earned $986.20 million during the quarter, compared to analysts’ expectations of $970.25 million. The company’s revenue for the quarter was down 1.9% compared to the same quarter last year. On average, analysts predict that Molson Coors Brewing Co. will post $3.23 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 1.61%. The ex-dividend date is Monday, August 29th.
In other Molson Coors Brewing news, Director Andrew Thomas Molson sold 1,173 shares of the firm’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $99.49, for a total value of $116,701.77. Following the transaction, the director now directly owns 6,834 shares of the company’s stock, valued at $679,914.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Krishnan Anand sold 1,869 shares of the firm’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $102.00, for a total value of $190,638.00. Following the completion of the transaction, the chief executive officer now directly owns 26,777 shares in the company, valued at $2,731,254. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Molson Coors Brewing stock. State of Tennessee Treasury Department increased its stake in shares of Molson Coors Brewing Co. (NYSE:TAP) by 37.7% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 171,136 shares of the company’s stock after buying an additional 46,836 shares during the period. State of Tennessee Treasury Department owned 0.09% of Molson Coors Brewing worth $16,073,000 at the end of the most recent reporting 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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