Molson Coors Brewing Co (NYSE:TAP) CEO Simon Cox sold 203 shares of the firm’s stock in a transaction dated Tuesday, February 20th. The stock was sold at an average price of $80.68, for a total value of $16,378.04. Following the transaction, the chief executive officer now directly owns 21,495 shares in the company, valued at approximately $1,734,216.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.
Shares of Molson Coors Brewing Co (TAP) traded down $0.30 on Thursday, hitting $78.45. 2,070,000 shares of the stock traded hands, compared to its average volume of 1,580,000. Molson Coors Brewing Co has a twelve month low of $72.71 and a twelve month high of $101.18. The firm has a market capitalization of $18,170.00, a P/E ratio of 17.36, a price-to-earnings-growth ratio of 1.79 and a beta of 0.79. The company has a quick ratio of 0.47, a current ratio of 0.64 and a debt-to-equity ratio of 0.79.
Molson Coors Brewing (NYSE:TAP) last announced its earnings results on Wednesday, February 14th. The company reported $0.62 earnings per share for the quarter, topping the consensus estimate of $0.56 by $0.06. Molson Coors Brewing had a net margin of 10.34% and a return on equity of 7.55%. The business had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same quarter in the prior year, the firm earned $0.47 earnings per share. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. sell-side analysts forecast that Molson Coors Brewing Co will post 5.12 earnings per share for the current fiscal year.
Several brokerages have issued reports on TAP. Zacks Investment Research lowered Molson Coors Brewing from a “buy” rating to a “hold” rating in a report on Wednesday. Susquehanna Bancshares set a $107.00 price objective on Molson Coors Brewing and gave the stock a “buy” rating in a report on Monday, February 12th. Credit Suisse Group raised Molson Coors Brewing from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $94.00 to $96.00 in a report on Monday, February 12th. Berenberg Bank raised Molson Coors Brewing from a “sell” rating to a “hold” rating and set a $78.00 price objective on the stock in a report on Thursday, February 8th. Finally, BMO Capital Markets began coverage on Molson Coors Brewing in a report on Monday, February 5th. They set an “outperform” rating and a $95.00 price objective on the stock. Eight analysts have rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Molson Coors Brewing currently has an average rating of “Buy” and an average target price of $96.88.
Institutional investors and hedge funds have recently made changes to their positions in the company. Dupont Capital Management Corp acquired a new stake in shares of Molson Coors Brewing during the third quarter worth about $103,000. Cerebellum GP LLC acquired a new stake in shares of Molson Coors Brewing during the fourth quarter worth about $129,000. Meeder Asset Management Inc. acquired a new stake in shares of Molson Coors Brewing during the third quarter worth about $138,000. Valeo Financial Advisors LLC boosted its stake in shares of Molson Coors Brewing by 58.2% during the fourth quarter. Valeo Financial Advisors LLC now owns 1,864 shares of the company’s stock worth $153,000 after buying an additional 686 shares during the period. Finally, Chemical Bank acquired a new stake in Molson Coors Brewing in the fourth quarter valued at about $205,000. Institutional investors and hedge funds own 77.05% of the company’s stock.
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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