Molson Coors Brewing Company (TAP) Given “Hold” Rating at Cowen and Company
Cowen and Company reiterated their hold rating on shares of Molson Coors Brewing Company (NYSE:TAP) in a report released on Thursday morning. Cowen and Company currently has a $96.00 target price on the stock.
Several other equities analysts have also recently commented on the stock. Susquehanna Bancshares Inc reissued a buy rating and issued a $108.00 price target (down previously from $118.00) on shares of Molson Coors Brewing in a research report on Friday, September 22nd. Berenberg Bank began coverage on shares of Molson Coors Brewing in a research note on Wednesday, September 13th. They issued a sell rating and a $78.00 price target for the company. BidaskClub raised Molson Coors Brewing from a sell rating to a hold rating in a research report on Saturday, August 26th. UBS AG reaffirmed a neutral rating and set a $98.00 price objective (up previously from $96.00) on shares of Molson Coors Brewing in a research report on Wednesday, August 9th. Finally, Zacks Investment Research cut Molson Coors Brewing from a hold rating to a strong sell rating in a research note on Tuesday, August 8th. Two research analysts have rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of Hold and an average target price of $107.02.
Molson Coors Brewing (TAP) opened at 81.64 on Thursday. Molson Coors Brewing has a one year low of $80.92 and a one year high of $112.19. The company’s 50-day moving average is $89.50 and its 200 day moving average is $91.77. The stock has a market capitalization of $17.58 billion, a price-to-earnings ratio of 8.16 and a beta of 0.89.
Molson Coors Brewing (NYSE:TAP) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.38). Molson Coors Brewing had a net margin of 19.78% and a return on equity of 7.41%. The business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same quarter last year, the firm posted $1.11 EPS. The company’s revenue for the quarter was down .6% on a year-over-year basis. Equities analysts expect that Molson Coors Brewing will post $4.31 EPS for the current year.
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The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.01%. The ex-dividend date was Tuesday, August 29th. Molson Coors Brewing ‘s dividend payout ratio (DPR) is presently 16.38%.
In other Molson Coors Brewing news, CEO Gavin Hattersley sold 17,215 shares of Molson Coors Brewing stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $91.90, for a total transaction of $1,582,058.50. Following the completion of the sale, the chief executive officer now directly owns 99,217 shares of the company’s stock, valued at approximately $9,118,042.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.76% of the stock is owned by company insiders.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its position in shares of Molson Coors Brewing by 12.8% during the 2nd quarter. Bessemer Group Inc. now owns 1,230 shares of the company’s stock worth $106,000 after acquiring an additional 140 shares in the last quarter. Krilogy Financial LLC lifted its stake in Molson Coors Brewing by 4,646.4% during the second quarter. Krilogy Financial LLC now owns 1,329 shares of the company’s stock worth $115,000 after purchasing an additional 1,301 shares during the last quarter. Sun Life Financial INC lifted its stake in Molson Coors Brewing by 14,900.0% during the second quarter. Sun Life Financial INC now owns 1,350 shares of the company’s stock worth $117,000 after purchasing an additional 1,341 shares during the last quarter. Penserra Capital Management LLC lifted its stake in Molson Coors Brewing by 30.4% during the second quarter. Penserra Capital Management LLC now owns 1,560 shares of the company’s stock worth $134,000 after purchasing an additional 364 shares during the last quarter. Finally, Korea Investment CORP lifted its stake in Molson Coors Brewing by 142.0% during the second quarter. Korea Investment CORP now owns 1,750 shares of the company’s stock worth $151,000 after purchasing an additional 1,027 shares during the last quarter. Institutional investors and hedge funds own 78.32% 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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