Molson Coors Brewing Co. (TAP) PT Raised to $159.00 at Susquehanna
Molson Coors Brewing Co. (NYSE:TAP) had its price target lifted by investment analysts at Susquehanna from $129.00 to $159.00 in a research report issued on Wednesday. The brokerage presently has a “positive” rating on the stock. Susquehanna’s price objective would suggest a potential upside of 48.90% from the stock’s previous close.
A number of other equities analysts have also issued reports on TAP. Stifel Nicolaus restated a “buy” rating and issued a $134.00 target price (up previously from $119.00) on shares of Molson Coors Brewing in a research note on Sunday, June 12th. Zacks Investment Research lowered Molson Coors Brewing from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Bryan, Garnier & Co upgraded Molson Coors Brewing to a “buy” rating in a research note on Friday, July 8th. Finally, Citigroup Inc. upgraded Molson Coors Brewing from a “neutral” rating to a “buy” rating and raised their target price for the stock from $101.00 to $115.00 in a research note 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 company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $117.50.
Molson Coors Brewing (NYSE:TAP) opened at 106.78 on Wednesday. The stock has a 50 day moving average price of $101.70 and a 200-day moving average price of $98.81. Molson Coors Brewing has a 1-year low of $78.17 and a 1-year high of $107.55. The company has a market cap of $22.93 billion, a price-to-earnings ratio of 55.36 and a beta of 0.94.
Molson Coors Brewing (NYSE:TAP) last posted its quarterly earnings data on Tuesday, August 2nd. The company reported $1.11 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $1.11. The firm earned $986.20 million during the quarter, compared to analysts’ expectations of $970.25 million. Molson Coors Brewing had a return on equity of 8.21% and a net margin of 7.54%. The business’s quarterly revenue was down 1.9% on a year-over-year basis. During the same quarter last year, the firm earned $1.41 EPS. On average, equities research analysts forecast that Molson Coors Brewing will post $3.27 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were paid a dividend of $0.41 per share. The ex-dividend date of this dividend was Monday, August 29th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.54%. Molson Coors Brewing’s payout ratio is currently 88.65%.
In other Molson Coors Brewing news, CEO Krishnan Anand sold 13,000 shares of Molson Coors Brewing stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $107.00, for a total transaction of $1,391,000.00. Following the completion of the transaction, the chief executive officer now owns 29,676 shares in the company, valued at approximately $3,175,332. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andrew Thomas Molson sold 1,173 shares of Molson Coors Brewing stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $99.49, for a total value of $116,701.77. Following the transaction, the director now owns 6,834 shares of the company’s stock, valued at approximately $679,914.66. The disclosure for this sale can be found here. Company insiders own 2.53% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Park Avenue Institutional Advisers LLC boosted its stake in Molson Coors Brewing by 12.0% in the first quarter. Park Avenue Institutional Advisers LLC now owns 1,144 shares of the company’s stock worth $110,000 after buying an additional 123 shares during the period. CENTRAL TRUST Co boosted its stake in Molson Coors Brewing by 1,000.0% in the second quarter. CENTRAL TRUST Co now owns 1,100 shares of the company’s stock worth $111,000 after buying an additional 1,000 shares during the period. Global X Management Co. LLC boosted its stake in Molson Coors Brewing by 68.2% in the second quarter. Global X Management Co. LLC now owns 1,401 shares of the company’s stock worth $142,000 after buying an additional 568 shares during the period. Alpha Cubed Investments LLC acquired a new stake in Molson Coors Brewing during the second quarter worth approximately $202,000. Finally, Parametrica Management Ltd acquired a new stake in Molson Coors Brewing during the second quarter worth approximately $203,000. Institutional investors and hedge funds own 77.65% of the company’s stock.
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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