Traders Buy Molson Coors Brewing (TAP) on Weakness
Investors bought shares of Molson Coors Brewing Co (NYSE:TAP) on weakness during trading on Wednesday. $35.41 million flowed into the stock on the tick-up and $11.57 million flowed out of the stock on the tick-down, for a money net flow of $23.84 million into the stock. Of all companies tracked, Molson Coors Brewing had the 15th highest net in-flow for the day. Molson Coors Brewing traded down ($0.04) for the day and closed at $84.68
Several analysts have recently weighed in on TAP shares. Zacks Investment Research upgraded shares of Molson Coors Brewing from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a research report on Tuesday, January 2nd. Stifel Nicolaus reaffirmed a “buy” rating and set a $116.00 target price on shares of Molson Coors Brewing in a report on Friday, December 22nd. Deutsche Bank assumed coverage on shares of Molson Coors Brewing in a report on Wednesday, December 13th. They set a “buy” rating and a $89.00 target price on the stock. Citigroup reduced their target price on shares of Molson Coors Brewing from $106.00 to $102.00 and set a “buy” rating on the stock in a report on Friday, November 3rd. Finally, Susquehanna Bancshares reaffirmed a “buy” rating on shares of Molson Coors Brewing in a report on Wednesday, October 11th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. Molson Coors Brewing presently has an average rating of “Hold” and an average target price of $96.94.
The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.54 and a current ratio of 0.69. The company has a market cap of $19,270.00, a price-to-earnings ratio of 8.02, a P/E/G ratio of 2.19 and a beta of 0.83.
In other Molson Coors Brewing news, Chairman Peter H. Coors sold 55,603 shares of the firm’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $85.01, for a total value of $4,726,811.03. Following the sale, the chairman now owns 319,222 shares of the company’s stock, valued at approximately $27,137,062.22. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Tracey Joubert sold 1,000 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was 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 approximately $1,807,706.85. The disclosure for this sale can be found here. 2.76% of the stock is owned by company insiders.
A number of institutional investors have recently made changes to their positions in the business. State of Alaska Department of Revenue grew its holdings in Molson Coors Brewing by 83.1% in the 4th quarter. State of Alaska Department of Revenue now owns 27,293 shares of the company’s stock worth $2,239,000 after acquiring an additional 12,390 shares during the last quarter. Oakbrook Investments LLC grew its holdings in Molson Coors Brewing by 11.7% in the 4th quarter. Oakbrook Investments LLC now owns 14,345 shares of the company’s stock worth $1,177,000 after acquiring an additional 1,500 shares during the last quarter. Westpac Banking Corp grew its holdings in Molson Coors Brewing by 49.2% in the 4th quarter. Westpac Banking Corp now owns 16,513 shares of the company’s stock worth $1,355,000 after acquiring an additional 5,449 shares during the last quarter. Cascade Investment Advisors Inc. bought a new stake in Molson Coors Brewing in the 4th quarter worth $770,000. Finally, CAPROCK Group Inc. grew its holdings in Molson Coors Brewing by 38.8% in the 4th quarter. CAPROCK Group Inc. now owns 11,850 shares of the company’s stock worth $1,006,000 after acquiring an additional 3,312 shares during the last quarter. 77.67% of the stock is currently owned by institutional investors and hedge funds.
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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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