Molson Coors Brewing Co. (TAP) PT Raised to $120.00 at Citigroup Inc.
Molson Coors Brewing Co. (NYSE:TAP) had its target price lifted by equities researchers at Citigroup Inc. from $115.00 to $120.00 in a research note issued on Monday. The brokerage presently has a “buy” rating on the stock. Citigroup Inc.’s price target would indicate a potential upside of 17.42% from the company’s previous close.
Several other research analysts have also recently commented on the stock. Stifel Nicolaus reaffirmed a “top pick” rating on shares of Molson Coors Brewing in a report on Wednesday, July 6th. Zacks Investment Research cut shares of Molson Coors Brewing from a “buy” rating to a “hold” rating in a report on Tuesday, July 26th. Bryan, Garnier & Co raised shares of Molson Coors Brewing to a “buy” rating in a report on Friday, July 8th. Finally, Susquehanna reaffirmed a “buy” rating and set a $130.00 target price on shares of Molson Coors Brewing in a report on Tuesday, June 7th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Molson Coors Brewing has a consensus rating of “Buy” and an average target price of $113.88.
Molson Coors Brewing (NYSE:TAP) opened at 102.20 on Monday. The stock has a 50 day moving average price of $101.37 and a 200 day moving average price of $98.71. The firm has a market capitalization of $21.95 billion, a P/E ratio of 52.98 and a beta of 0.94. Molson Coors Brewing has a one year low of $78.17 and a one year high of $107.55.
Molson Coors Brewing (NYSE:TAP) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $1.11 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.11. The firm earned $986.20 million during the quarter, compared to the consensus estimate 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 period last year, the business posted $1.41 earnings per share. On average, equities analysts predict 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 paid a $0.41 dividend. The ex-dividend date of this dividend was Monday, August 29th. This represents a $1.64 dividend on an annualized basis and a yield of 1.60%. Molson Coors Brewing’s dividend payout ratio (DPR) is 88.65%.
In other Molson Coors Brewing news, CEO Krishnan Anand sold 1,869 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The shares were sold at an average price of $102.00, for a total value of $190,638.00. Following the sale, the chief executive officer now owns 26,777 shares in the company, valued at $2,731,254. The sale 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 the firm’s stock in a transaction that occurred 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 completion of the sale, 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. 2.53% of the stock is currently owned by corporate insiders.
Hedge funds have recently modified their holdings of the stock. Magnetar Financial LLC bought a new stake in shares of Molson Coors Brewing during the first quarter worth $41,026,000. Adage Capital Partners GP L.L.C. raised its stake in shares of Molson Coors Brewing by 10.5% in the first quarter. Adage Capital Partners GP L.L.C. now owns 834,705 shares of the company’s stock worth $80,282,000 after buying an additional 79,300 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of Molson Coors Brewing by 16.7% in the first quarter. Renaissance Technologies LLC now owns 619,900 shares of the company’s stock worth $59,622,000 after buying an additional 88,900 shares in the last quarter. ING Groep NV bought a new stake in shares of Molson Coors Brewing during the first quarter worth $407,000. Finally, Prudential PLC raised its stake in shares of Molson Coors Brewing by 3.2% in the first quarter. Prudential PLC now owns 76,940 shares of the company’s stock worth $7,400,000 after buying an additional 2,378 shares in the last quarter. Hedge funds and other 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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