Molson Coors Brewing Co. (TAP) PT Raised to $120.00 at Citigroup Inc.
Molson Coors Brewing Co. (NYSE:TAP) had its target price upped by analysts at Citigroup Inc. from $115.00 to $120.00 in a research report issued to clients and investors on Monday. The brokerage currently has a “buy” rating on the stock. Citigroup Inc.’s target price suggests a potential upside of 17.42% from the company’s previous close.
A number of other equities analysts have also commented on TAP. Susquehanna reissued a “buy” rating and issued a $130.00 price target on shares of Molson Coors Brewing in a report on Tuesday, June 7th. Stifel Nicolaus reissued a “buy” rating and issued a $134.00 price target (up previously from $119.00) on shares of Molson Coors Brewing in a report on Sunday, June 12th. Zacks Investment Research lowered shares of Molson Coors Brewing from a “strong-buy” rating to a “hold” rating in a report on Tuesday, July 5th. Finally, Bryan, Garnier & Co raised shares of Molson Coors Brewing to a “buy” rating in a report on Friday, July 8th. Two analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $113.88.
Molson Coors Brewing (NYSE:TAP) opened at 102.20 on Monday. The firm has a market cap of $21.95 billion, a price-to-earnings ratio of 52.98 and a beta of 0.94. Molson Coors Brewing has a 12-month low of $78.17 and a 12-month high of $107.55. The company has a 50-day moving average of $101.37 and a 200 day moving average of $98.71.
Molson Coors Brewing (NYSE:TAP) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $1.11 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.11. The firm had revenue of $986.20 million for the quarter, compared to analyst estimates of $970.25 million. Molson Coors Brewing had a net margin of 7.54% and a return on equity of 8.21%. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.41 EPS. Equities analysts expect that Molson Coors Brewing will post $3.27 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Monday, August 29th. This represents a $1.64 annualized dividend and a yield of 1.60%. Molson Coors Brewing’s payout ratio is currently 88.65%.
In other news, CEO Krishnan Anand sold 13,000 shares of the firm’s stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $107.00, for a total value of $1,391,000.00. Following the completion of the sale, the chief executive officer now directly owns 29,676 shares of the company’s stock, valued at approximately $3,175,332. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 transaction of $116,701.77. Following the completion of the sale, the director now directly owns 6,834 shares of the company’s stock, valued at $679,914.66. The disclosure for this sale can be found here. Company insiders own 2.53% of the company’s stock.
Large investors have recently bought and sold shares of the company. Kentucky Retirement Systems Insurance Trust Fund bought a new stake in Molson Coors Brewing during the second quarter valued at approximately $752,000. Kentucky Retirement Systems bought a new stake in Molson Coors Brewing during the second quarter valued at approximately $1,583,000. Mason Street Advisors LLC bought a new stake in Molson Coors Brewing during the second quarter valued at approximately $2,508,000. Northwestern Mutual Wealth Management Co. boosted its stake in Molson Coors Brewing by 15.6% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,990 shares of the company’s stock valued at $403,000 after buying an additional 538 shares in the last quarter. Finally, Harbour Capital Advisors LLC bought a new stake in Molson Coors Brewing during the second quarter valued at approximately $308,000. 77.65% of the stock is owned by hedge funds and other institutional investors.
Molson Coors Brewing Company Profile
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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