Traders 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 Monday. $22.53 million flowed into the stock on the tick-up and $61.16 million flowed out of the stock on the tick-down, for a money net flow of $38.63 million out of the stock. Of all equities tracked, Molson Coors Brewing had the 15th highest net out-flow for the day. Molson Coors Brewing traded up $1.74 for the day and closed at $104.21
A number of brokerages have issued reports on TAP. Susquehanna restated a “buy” rating on shares of Molson Coors Brewing in a research report on Monday, August 8th. Stifel Nicolaus upped their price objective on Molson Coors Brewing from $136.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday, August 3rd. Citigroup Inc. upgraded Molson Coors Brewing from a “neutral” rating to a “buy” rating and upped their price objective for the company from $101.00 to $115.00 in a research report on Friday, July 29th. Zacks Investment Research downgraded Molson Coors Brewing from a “buy” rating to a “hold” rating in a research report on Tuesday, July 26th. Finally, Bryan, Garnier & Co upgraded Molson Coors Brewing to a “buy” rating in a research report on Friday, July 8th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $113.25.
The stock has a market cap of $22.38 billion and a P/E ratio of 54.02. The stock has a 50-day moving average of $100.07 and a 200 day moving average of $97.11.
Molson Coors Brewing (NYSE:TAP) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $1.11 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.11. During the same quarter in the previous year, the firm posted $1.41 earnings per share. The firm earned $986.20 million during the quarter, compared to analyst estimates of $970.25 million. The company’s quarterly revenue was down 1.9% on a year-over-year basis. Equities analysts expect that Molson Coors Brewing Co. will post $3.23 EPS for the current 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 issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 1.57%. The ex-dividend date is Monday, August 29th.
In other Molson Coors Brewing news, CEO Krishnan Anand sold 1,869 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $102.00, for a total value of $190,638.00. Following the transaction, the chief executive officer now directly owns 26,777 shares of the company’s stock, valued at approximately $2,731,254. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew Thomas Molson sold 1,173 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $99.49, for a total transaction of $116,701.77. Following the completion of the transaction, the director now directly owns 6,834 shares in the company, valued at $679,914.66. The disclosure for this sale can be found here.
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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