Insider Selling: Molson Coors Brewing Co (TAP) Chairman Sells 55,603 Shares of Stock
Molson Coors Brewing Co (NYSE:TAP) Chairman Peter H. Coors sold 55,603 shares of the business’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $85.01, for a total transaction of $4,726,811.03. Following the completion of the sale, the chairman now directly owns 319,222 shares of the company’s stock, valued at $27,137,062.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.
Shares of Molson Coors Brewing Co (NYSE:TAP) traded down $1.43 during trading hours on Friday, hitting $83.25. 1,719,500 shares of the stock were exchanged, compared to its average volume of 1,350,567. Molson Coors Brewing Co has a 1-year low of $76.25 and a 1-year high of $102.14. The company has a quick ratio of 0.54, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $19,270.00, a PE ratio of 8.02, a price-to-earnings-growth ratio of 2.19 and a beta of 0.83.
Molson Coors Brewing (NYSE:TAP) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $1.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.34. Molson Coors Brewing had a net margin of 17.04% and a return on equity of 7.54%. The business had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same period in the previous year, the business posted $1.03 earnings per share. The business’s revenue was up 204.3% compared to the same quarter last year. equities research analysts forecast that Molson Coors Brewing Co will post 4.33 earnings per share for the current fiscal year.
A number of equities research analysts recently weighed in on TAP shares. Susquehanna Bancshares reissued a “buy” rating and issued a $108.00 price target (down from $118.00) on shares of Molson Coors Brewing in a research report on Friday, September 22nd. Cowen reissued a “hold” rating and issued a $96.00 price target on shares of Molson Coors Brewing in a research report on Thursday, September 28th. Credit Suisse Group set a $92.00 price target on shares of Molson Coors Brewing and gave the company a “hold” rating in a research report on Friday, September 29th. Zacks Investment Research raised shares of Molson Coors Brewing from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. Finally, Berenberg Bank reaffirmed a “sell” rating and issued a $76.00 target price on shares of Molson Coors Brewing in a report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $96.94.
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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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