Molson Coors Brewing Company (NYSE:TAP) CEO Gavin Hattersley sold 17,215 shares of the stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $91.90, for a total value 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 filing with the Securities & Exchange Commission, which is available at the SEC website.
Shares of Molson Coors Brewing Company (NYSE:TAP) traded down 0.24% on Friday, reaching $89.74. The company’s stock had a trading volume of 1,091,526 shares. The company’s 50 day moving average price is $88.69 and its 200 day moving average price is $93.29. The company has a market cap of $19.32 billion, a P/E ratio of 8.97 and a beta of 0.91. Molson Coors Brewing Company has a 12-month low of $85.34 and a 12-month high of $112.19.
Molson Coors Brewing (NYSE:TAP) last posted its earnings results 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 return on equity of 7.41% and a net margin of 19.78%. The firm had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter last year, the company posted $1.11 EPS. The firm’s revenue was down .6% on a year-over-year basis. Analysts forecast that Molson Coors Brewing Company will post $4.31 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.83%. Molson Coors Brewing ‘s dividend payout ratio (DPR) is 16.38%.
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Several equities research analysts recently commented on the company. UBS AG reaffirmed a “neutral” rating and set a $98.00 target price (up previously from $96.00) on shares of Molson Coors Brewing in a research note on Wednesday, August 9th. Zacks Investment Research cut Molson Coors Brewing from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Credit Suisse Group set a $96.00 target price on Molson Coors Brewing and gave the stock a “hold” rating in a research note on Thursday, August 3rd. Susquehanna Bancshares Inc reaffirmed a “buy” rating on shares of Molson Coors Brewing in a research note on Wednesday, August 2nd. Finally, Cowen and Company reaffirmed a “hold” rating and set a $96.00 target price on shares of Molson Coors Brewing in a research note on Friday, July 14th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $111.60.
Hedge funds and other institutional investors have recently bought and sold shares of the company. Round Table Services LLC increased its position in Molson Coors Brewing by 14.3% in the first quarter. Round Table Services LLC now owns 2,746 shares of the company’s stock worth $263,000 after buying an additional 343 shares during the period. Quantitative Systematic Strategies LLC bought a new stake in Molson Coors Brewing during the first quarter valued at $260,000. Bank of The West increased its stake in Molson Coors Brewing by 34.0% in the first quarter. Bank of The West now owns 23,754 shares of the company’s stock valued at $2,273,000 after buying an additional 6,026 shares during the last quarter. DnB Asset Management AS increased its stake in Molson Coors Brewing by 5.0% in the first quarter. DnB Asset Management AS now owns 106,523 shares of the company’s stock valued at $10,195,000 after buying an additional 5,100 shares during the last quarter. Finally, Addison Capital Co bought a new stake in Molson Coors Brewing during the first quarter valued at $432,000. Hedge funds and other institutional investors own 78.58% of the company’s stock.
Molson Coors Brewing Company Profile
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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