Traders bought shares of Molson Coors Brewing Company (NYSE:TAP) on weakness during trading on Friday. $33.51 million flowed into the stock on the tick-up and $16.11 million flowed out of the stock on the tick-down, for a money net flow of $17.40 million into the stock. Of all companies tracked, Molson Coors Brewing had the 27th highest net in-flow for the day. Molson Coors Brewing traded down ($0.76) for the day and closed at $83.59
Several research analysts have commented on TAP shares. Susquehanna Bancshares Inc set a $118.00 price target on Molson Coors Brewing and gave the stock a “buy” rating in a research report on Tuesday, August 29th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $111.00 price target on shares of Molson Coors Brewing in a research report on Friday, July 14th. Cowen and Company reaffirmed 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 $96.00 price target on Molson Coors Brewing and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Finally, BidaskClub raised Molson Coors Brewing from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Molson Coors Brewing currently has an average rating of “Hold” and a consensus target price of $98.80.
The stock has a market cap of $18.00 billion, a price-to-earnings ratio of 8.35 and a beta of 0.88. The stock’s 50 day moving average price is $85.49 and its 200-day moving average price is $89.92.
Molson Coors Brewing (NYSE:TAP) last released its quarterly earnings results on Wednesday, August 2nd. The company reported $1.66 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.04 by ($0.38). The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.10 billion. Molson Coors Brewing had a return on equity of 7.41% and a net margin of 19.78%. The business’s revenue for the quarter was down .6% on a year-over-year basis. During the same period in the previous year, the business posted $1.11 earnings per share. On average, equities analysts predict that Molson Coors Brewing Company will post $4.31 EPS for the current year.
In related news, CEO Gavin Hattersley sold 17,215 shares of Molson Coors Brewing stock in a transaction that occurred 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 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 transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 2.76% of the company’s stock.
Large investors have recently added to or reduced their stakes in the stock. Bessemer Group Inc. increased its stake in 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 during the period. Krilogy Financial LLC increased its stake in Molson Coors Brewing by 4,646.4% during the 2nd quarter. Krilogy Financial LLC now owns 1,329 shares of the company’s stock worth $115,000 after acquiring an additional 1,301 shares during the period. Sun Life Financial INC increased its stake in Molson Coors Brewing by 14,900.0% during the 2nd quarter. Sun Life Financial INC now owns 1,350 shares of the company’s stock worth $117,000 after acquiring an additional 1,341 shares during the period. Penserra Capital Management LLC increased its stake in Molson Coors Brewing by 30.4% during the 2nd quarter. Penserra Capital Management LLC now owns 1,560 shares of the company’s stock worth $134,000 after acquiring an additional 364 shares during the period. Finally, Korea Investment CORP increased its stake in Molson Coors Brewing by 142.0% during the 2nd quarter. Korea Investment CORP now owns 1,750 shares of the company’s stock worth $151,000 after acquiring an additional 1,027 shares during the period. 78.32% of the stock is owned by institutional investors and hedge funds.
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.