The Traders Buy Shares of Molson Coors Brewing Company (TAP) on Weakness

The Traders Buy Shares of Molson Coors Brewing  Company (TAP) on Weakness

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.

Related posts

Leave a Comment