Molson Coors Brewing Co. (TAP) PT Raised to $159.00 at Susquehanna
Molson Coors Brewing Co. (NYSE:TAP) had its target price hoisted by Susquehanna from $129.00 to $159.00 in a report issued on Wednesday. The firm currently has a “positive” rating on the stock. Susquehanna’s price objective would indicate a potential upside of 48.90% from the company’s current price.
A number of other brokerages have also recently issued reports on TAP. Citigroup Inc. upgraded Molson Coors Brewing from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $101.00 to $115.00 in a research note on Friday, July 29th. Stifel Nicolaus restated a “buy” rating and issued a $134.00 price target (up previously from $119.00) on shares of Molson Coors Brewing in a research note on Sunday, June 12th. Bryan, Garnier & Co upgraded Molson Coors Brewing to a “buy” rating in a research note on Friday, July 8th. Finally, Zacks Investment Research upgraded Molson Coors Brewing from a “hold” rating to a “buy” rating and set a $114.00 price target for the company in a research note on Tuesday, July 12th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Molson Coors Brewing has a consensus rating of “Buy” and a consensus target price of $117.50.
Molson Coors Brewing (NYSE:TAP) opened at 106.78 on Wednesday. Molson Coors Brewing has a 52 week low of $78.17 and a 52 week high of $107.55. The firm has a 50-day moving average price of $101.70 and a 200 day moving average price of $98.81. The company has a market cap of $22.93 billion, a P/E ratio of 55.36 and a beta of 0.94.
Molson Coors Brewing (NYSE:TAP) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $1.11 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $1.11. The business 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 firm’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.41 earnings per share. Analysts expect that Molson Coors Brewing will post $3.27 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 1.54%. The ex-dividend date was Monday, August 29th. Molson Coors Brewing’s dividend payout ratio (DPR) is presently 88.65%.
In related news, CEO Krishnan Anand sold 13,000 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now owns 29,676 shares in the company, valued at $3,175,332. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Andrew Thomas Molson sold 1,173 shares of the company’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $99.49, for a total value of $116,701.77. Following the sale, 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. Corporate insiders own 2.53% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in Molson Coors Brewing by 3.2% in the second quarter. Vanguard Group Inc. now owns 15,800,460 shares of the company’s stock valued at $1,597,901,000 after buying an additional 494,251 shares in the last quarter. JPMorgan Chase & Co. raised its stake in Molson Coors Brewing by 35.5% in the first quarter. JPMorgan Chase & Co. now owns 14,489,567 shares of the company’s stock valued at $1,393,607,000 after buying an additional 3,798,161 shares in the last quarter. State Street Corp raised its stake in Molson Coors Brewing by 19.9% in the first quarter. State Street Corp now owns 7,526,410 shares of the company’s stock valued at $723,884,000 after buying an additional 1,247,903 shares in the last quarter. Wellington Management Group LLP raised its stake in Molson Coors Brewing by 535.6% in the first quarter. Wellington Management Group LLP now owns 7,090,526 shares of the company’s stock valued at $681,965,000 after buying an additional 5,975,046 shares in the last quarter. Finally, Lazard Asset Management LLC raised its stake in Molson Coors Brewing by 174.4% in the first quarter. Lazard Asset Management LLC now owns 6,543,563 shares of the company’s stock valued at $629,357,000 after buying an additional 4,158,485 shares in the last quarter. Institutional investors 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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