Traders Sell Molson Coors Brewing Company (TAP) on Strength (TAP)
Investors sold shares of Molson Coors Brewing Company (NYSE:TAP) on strength during trading hours on Monday. $22.07 million flowed into the stock on the tick-up and $54.41 million flowed out of the stock on the tick-down, for a money net flow of $32.34 million out of the stock. Of all stocks tracked, Molson Coors Brewing had the 0th highest net out-flow for the day. Molson Coors Brewing traded up $0.38 for the day and closed at $82.02
TAP has been the subject of several research reports. Susquehanna Bancshares Inc reaffirmed a “positive” rating and issued a $117.00 target price (up from $114.00) on shares of Molson Coors Brewing in a research report on Wednesday, June 7th. Credit Suisse Group set a $96.00 price target on shares of Molson Coors Brewing and gave the company a “hold” rating in a report on Thursday, August 3rd. BidaskClub raised shares of Molson Coors Brewing from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. UBS AG restated a “neutral” rating and issued a $98.00 price objective (up previously from $96.00) on shares of Molson Coors Brewing in a research note on Thursday, August 3rd. Finally, Zacks Investment Research cut shares of Molson Coors Brewing from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 8th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. Molson Coors Brewing has a consensus rating of “Hold” and an average target price of $107.02.
The company’s 50 day moving average is $87.14 and its 200 day moving average is $90.67. The stock has a market cap of $17.81 billion, a P/E ratio of 8.26 and a beta of 0.88.
Molson Coors Brewing (NYSE:TAP) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $1.66 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.04 by ($0.38). Molson Coors Brewing had a return on equity of 7.41% and a net margin of 19.78%. The company had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same period in the prior year, the company earned $1.11 EPS. The company’s quarterly revenue was down .6% compared to the same quarter last year. Analysts expect that Molson Coors Brewing Company will post $4.31 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were issued a $0.41 dividend. The ex-dividend date was Tuesday, August 29th. This represents a $1.64 annualized dividend and a yield of 2.00%. Molson Coors Brewing ‘s dividend payout ratio is presently 16.38%.
In other news, CEO Gavin Hattersley sold 17,215 shares of the stock in a transaction on 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 sale, the chief executive officer now directly owns 99,217 shares of the company’s stock, valued at approximately $9,118,042.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 2.76% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the stock. Shell Asset Management Co. lifted its position in Molson Coors Brewing by 0.3% during the second quarter. Shell Asset Management Co. now owns 13,852 shares of the company’s stock worth $1,196,000 after purchasing an additional 37 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in Molson Coors Brewing by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,719 shares of the company’s stock worth $1,184,000 after buying an additional 42 shares in the last quarter. Neuberger Berman Group LLC grew its stake in Molson Coors Brewing by 0.7% during the first quarter. Neuberger Berman Group LLC now owns 6,607 shares of the company’s stock worth $632,000 after buying an additional 44 shares in the last quarter. ING Groep NV grew its stake in Molson Coors Brewing by 0.6% during the second quarter. ING Groep NV now owns 9,465 shares of the company’s stock worth $817,000 after buying an additional 52 shares in the last quarter. Finally, Boston Advisors LLC grew its stake in Molson Coors Brewing by 1.4% during the second quarter. Boston Advisors LLC now owns 3,933 shares of the company’s stock worth $340,000 after buying an additional 55 shares in the last quarter. 78.32% of the stock is 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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