Stifel Nicolaus Reaffirms “Buy” Rating for Molson Coors Brewing Company (TAP)

Molson Coors Brewing Company (NYSE:TAP)‘s stock had its “buy” rating restated by Stifel Nicolaus in a note issued to investors on Friday, July 14th. They currently have a $111.00 price objective on the stock. Stifel Nicolaus’ price target indicates a potential upside of 22.79% from the company’s previous close.

Other research analysts have also issued reports about the company. 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. Societe Generale lowered Molson Coors Brewing from a “buy” rating to a “hold” rating and lowered their target price for the stock from $118.00 to $98.00 in a research report on Thursday, May 4th. Cowen and Company reiterated a “market perform” rating and set a $100.00 price target on shares of Molson Coors Brewing in a report on Wednesday, May 31st. UBS AG reiterated a “neutral” rating and set a $96.00 price target (down from $100.00) on shares of Molson Coors Brewing in a report on Friday, June 9th. Finally, J P Morgan Chase & Co started coverage on Molson Coors Brewing in a report on Tuesday, March 21st. They set a “neutral” rating and a $105.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $111.60.

Molson Coors Brewing (NYSE:TAP) opened at 90.40 on Friday. The firm has a 50-day moving average price of $88.12 and a 200 day moving average price of $93.49. The company has a market cap of $19.46 billion, a P/E ratio of 9.03 and a beta of 0.91. Molson Coors Brewing has a 12 month low of $85.34 and a 12 month high of $112.19.

Molson Coors Brewing (NYSE:TAP) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $1.66 EPS for the quarter, missing the Zacks’ consensus estimate of $2.04 by $0.38. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.10 billion. Molson Coors Brewing had a net margin of 19.78% and a return on equity of 7.41%. The firm’s revenue was down .6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.11 earnings per share. On average, equities analysts expect that Molson Coors Brewing will post $4.31 earnings per share for the current year.

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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 shares were sold at an average price of $91.90, for a total value of $1,582,058.50. Following the sale, the chief executive officer now 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 Securities & Exchange Commission, which is available at the SEC website. Insiders own 2.53% of the company’s stock.

Several large investors have recently bought and sold shares of the company. Bank of The West raised its position 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 worth $2,273,000 after buying an additional 6,026 shares in the last quarter. Quantum Capital Management acquired a new position in Molson Coors Brewing during the first quarter worth $647,000. FIL Ltd raised its position in Molson Coors Brewing by 1.9% in the first quarter. FIL Ltd now owns 6,481,958 shares of the company’s stock worth $620,388,000 after buying an additional 119,127 shares during the period. Vanguard Group Inc. raised its position in Molson Coors Brewing by 3.8% in the first quarter. Vanguard Group Inc. now owns 17,305,767 shares of the company’s stock worth $1,656,335,000 after buying an additional 630,539 shares during the period. Finally, Diamond Hill Capital Management Inc. raised its position in Molson Coors Brewing by 2.6% in the first quarter. Diamond Hill Capital Management Inc. now owns 579,141 shares of the company’s stock worth $55,430,000 after buying an additional 14,802 shares during the period. 79.50% of the stock is currently owned by institutional investors.

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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