Investors Sell Shares of Molson Coors Brewing Company (NYSE:TAP) on Strength (NYSE:TAP)

Traders sold shares of Molson Coors Brewing Company (NYSE:TAP) on strength during trading hours on Friday. $17.99 million flowed into the stock on the tick-up and $61.96 million flowed out of the stock on the tick-down, for a money net flow of $43.97 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 $0.44 for the day and closed at $87.98

A number of research firms recently weighed in on TAP. Cowen and Company reissued a “hold” rating and set a $96.00 target price on shares of Molson Coors Brewing in a research report on Friday, July 14th. Susquehanna Bancshares Inc set a $114.00 target price on Molson Coors Brewing and gave the stock a “buy” rating in a research report on Saturday, June 3rd. Credit Suisse Group set a $96.00 price objective on Molson Coors Brewing and gave the company a “hold” rating in a report on Thursday, August 3rd. Vetr raised Molson Coors Brewing from a “buy” rating to a “strong-buy” rating and set a $103.20 price objective on the stock in a report on Wednesday, May 3rd. Finally, UBS AG reaffirmed a “neutral” rating and set a $96.00 price objective (down from $100.00) on shares of Molson Coors Brewing in a report on Friday, June 9th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $111.60.

The firm has a market capitalization of $1.83 billion, a P/E ratio of 9.04 and a beta of 0.91. The company’s 50 day moving average is $87.55 and its 200 day moving average is $93.74.

Molson Coors Brewing (NYSE:TAP) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $2.04 by $0.38. The business 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%. Molson Coors Brewing ‘s revenue for the quarter was down .6% on a year-over-year basis. During the same quarter last year, the firm posted $1.11 EPS. On average, equities analysts forecast that Molson Coors Brewing Company will post $4.32 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date of this dividend is Tuesday, August 29th. Molson Coors Brewing ‘s dividend payout ratio is presently 16.38%.

In related news, CEO Gavin Hattersley sold 17,215 shares of Molson Coors Brewing stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $91.90, for a total transaction of $1,582,058.50. Following the completion of the transaction, the chief executive officer now owns 99,217 shares of the company’s stock, valued at $9,118,042.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 2.53% of the stock is owned by company insiders.

A number of large investors have recently bought and sold shares of TAP. Round Table Services LLC increased its stake 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 valued at $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 period. 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 period. Finally, Addison Capital Co bought a new stake in Molson Coors Brewing during the first quarter valued at $432,000. 79.50% of the stock is owned by hedge funds and other institutional investors.

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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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