Molson Coors Brewing (TAP) Lifted to Outperform at Credit Suisse Group
Molson Coors Brewing (NYSE:TAP) was upgraded by equities research analysts at Credit Suisse Group from a “neutral” rating to an “outperform” rating in a research note issued on Monday, Marketbeat Ratings reports. The firm presently has a $96.00 target price on the stock, up from their previous target price of $94.00. Credit Suisse Group’s target price suggests a potential upside of 17.83% from the company’s previous close.
TAP has been the subject of a number of other reports. Morgan Stanley assumed coverage on shares of Molson Coors Brewing in a report on Tuesday, January 9th. They issued an “equal weight” rating and a $88.00 target price for the company. Berenberg Bank upgraded shares of Molson Coors Brewing from a “sell” rating to a “hold” rating and set a $78.00 target price for the company in a report on Thursday, February 8th. BMO Capital Markets assumed coverage on shares of Molson Coors Brewing in a report on Monday, February 5th. They issued an “outperform” rating and a $95.00 target price for the company. Citigroup lowered their target price on shares of Molson Coors Brewing from $106.00 to $102.00 and set a “buy” rating for the company in a report on Friday, November 3rd. Finally, Stifel Nicolaus restated a “buy” rating and issued a $116.00 target price on shares of Molson Coors Brewing in a report on Friday, December 22nd. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $96.61.
Molson Coors Brewing (TAP) traded down $0.27 during trading on Monday, reaching $81.47. 1,706,587 shares of the company were exchanged, compared to its average volume of 1,522,024. Molson Coors Brewing has a 52-week low of $72.71 and a 52-week high of $102.14. The stock has a market capitalization of $18,820.00, a P/E ratio of 18.02, a price-to-earnings-growth ratio of 2.15 and a beta of 0.79. The company has a current ratio of 0.64, a quick ratio of 0.54 and a debt-to-equity ratio of 0.79.
In other Molson Coors Brewing news, CFO Tracey Joubert sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $79.15, for a total transaction of $79,150.00. Following the completion of the sale, the chief financial officer now directly owns 22,839 shares in the company, valued at $1,807,706.85. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Peter H. Coors sold 55,603 shares of the business’s stock in a transaction that occurred on Wednesday, January 17th. The stock was sold at an average price of $85.01, for a total transaction of $4,726,811.03. Following the sale, the chairman now owns 319,222 shares of the company’s stock, valued at $27,137,062.22. The disclosure for this sale can be found here. 2.76% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. WealthPLAN Partners LLC purchased a new stake in Molson Coors Brewing during the fourth quarter worth approximately $212,000. Meitav Dash Investments Ltd. purchased a new stake in Molson Coors Brewing during the fourth quarter worth approximately $410,000. MetLife Investment Advisors LLC acquired a new position in shares of Molson Coors Brewing during the fourth quarter worth $4,692,000. Gotham Asset Management LLC lifted its position in shares of Molson Coors Brewing by 25.8% during the fourth quarter. Gotham Asset Management LLC now owns 255,417 shares of the company’s stock worth $20,962,000 after purchasing an additional 52,387 shares in the last quarter. Finally, Jump Trading LLC acquired a new position in shares of Molson Coors Brewing during the fourth quarter worth $466,000. Institutional investors own 76.90% of the company’s stock.
About Molson Coors Brewing
Molson Coors Brewing Company (MCBC) is a holding company. The Company operates as a brewer. The Company’s segments include MillerCoors LLC (United States segment), operating in the United States; Molson Coors Canada (Canada segment), operating in Canada; Molson Coors Europe (Europe segment), operating in Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, Republic of Ireland, Romania, Serbia, the United Kingdom and various other European countries; Molson Coors International (Molson Coors International segment), operating in various other countries, and Corporate.
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