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 Friday. $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 0th 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 research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Molson Coors Brewing from a “hold” rating to a “buy” rating and set a $114.00 target price for the company in a research report on Tuesday, July 12th. Stifel Nicolaus reaffirmed a “top pick” rating on shares of Molson Coors Brewing in a research report on Wednesday, July 6th. Susquehanna reaffirmed a “buy” rating and issued a $130.00 target price on shares of Molson Coors Brewing in a research report on Wednesday, July 27th. 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 report on Friday, July 29th. Finally, Bryan, Garnier & Co raised shares of Molson Coors Brewing to a “buy” rating in a research report on Friday, July 8th. Two analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $113.25.
The company’s 50-day moving average price is $100.07 and its 200 day moving average price is $97.11. The stock has a market capitalization of $22.38 billion and a P/E ratio of 54.02.
Molson Coors Brewing (NYSE:TAP) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $1.11 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.11. The firm earned $986.20 million during the quarter, compared to analyst estimates of $970.25 million. The firm’s revenue for the quarter was down 1.9% on a year-over-year basis. During the same quarter last year, the firm posted $1.41 EPS. On average, analysts expect that Molson Coors Brewing Co. will post $3.23 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, September 15th. Investors of record on Wednesday, August 31st will be given a dividend of $0.41 per share. The ex-dividend date is Monday, August 29th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.57%.
In related news, CEO Krishnan Anand sold 1,869 shares of the business’s stock in a transaction on Friday, July 29th. The shares were sold at an average price of $102.00, for a total transaction of $190,638.00. Following the transaction, the chief executive officer now owns 26,777 shares in the company, valued at approximately $2,731,254. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andrew Thomas Molson sold 1,173 shares of the business’s stock in a transaction on Wednesday, August 3rd. The shares were sold at an average price of $99.49, for a total transaction of $116,701.77. Following the transaction, the director now owns 6,834 shares in the company, valued at approximately $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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