Molson Coors Brewing (TAP) Receives New Coverage from Analysts at Deutsche Bank

Deutsche Bank initiated coverage on shares of Molson Coors Brewing (NYSE:TAP) in a research report report published on Wednesday. The brokerage issued a buy rating and a $89.00 target price on the stock.

TAP has been the topic of several other research reports. Susquehanna Bancshares set a $118.00 price target on shares of Molson Coors Brewing and gave the stock a buy rating in a research report on Tuesday, August 29th. Citigroup lowered their price objective on shares of Molson Coors Brewing from $106.00 to $102.00 and set a buy rating on the stock in a research report on Friday, November 3rd. Zacks Investment Research cut shares of Molson Coors Brewing from a hold rating to a sell rating in a research report on Tuesday, October 10th. Credit Suisse Group set a $92.00 price objective on shares of Molson Coors Brewing and gave the stock a hold rating in a research report on Friday, September 29th. Finally, Berenberg Bank initiated coverage on shares of Molson Coors Brewing in a research report on Wednesday, September 13th. They set a sell rating and a $78.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of Hold and an average price target of $98.02.

Molson Coors Brewing (NYSE:TAP) traded down $0.65 on Wednesday, hitting $79.50. The stock had a trading volume of 931,400 shares, compared to its average volume of 1,586,045. The company has a market capitalization of $17,264.31, a PE ratio of 18.99, a PEG ratio of 2.35 and a beta of 0.83. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.54 and a current ratio of 0.69. Molson Coors Brewing has a 52 week low of $76.25 and a 52 week high of $102.14.

Molson Coors Brewing (NYSE:TAP) last announced its earnings results on Wednesday, November 1st. The company reported $1.34 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.34. The firm had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.97 billion. Molson Coors Brewing had a return on equity of 7.54% and a net margin of 17.04%. The firm’s quarterly revenue was up 204.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.03 earnings per share. equities analysts forecast that Molson Coors Brewing will post 4.34 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Wednesday, November 29th. Molson Coors Brewing’s payout ratio is presently 15.83%.

In related news, CFO Tracey Joubert sold 1,000 shares of Molson Coors Brewing stock in a transaction on Friday, December 1st. The shares were sold at an average price of $79.15, for a total value of $79,150.00. Following the completion of the sale, the chief financial officer now owns 22,839 shares of the company’s stock, valued at approximately $1,807,706.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 2.76% of the stock is currently owned by insiders.

Several large investors have recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in Molson Coors Brewing by 0.3% in the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,719 shares of the company’s stock valued at $1,184,000 after acquiring an additional 42 shares during the period. Utah Retirement Systems grew its stake in Molson Coors Brewing by 0.3% during the second quarter. Utah Retirement Systems now owns 31,603 shares of the company’s stock worth $2,729,000 after buying an additional 100 shares during the last quarter. State of Tennessee Treasury Department grew its stake in Molson Coors Brewing by 0.3% during the second quarter. State of Tennessee Treasury Department now owns 50,506 shares of the company’s stock worth $4,361,000 after buying an additional 130 shares during the last quarter. Bessemer Group Inc. lifted its position in shares of Molson Coors Brewing by 12.8% during the second quarter. Bessemer Group Inc. now owns 1,230 shares of the company’s stock worth $106,000 after purchasing an additional 140 shares in the last quarter. Finally, Bahl & Gaynor Inc. lifted its position in shares of Molson Coors Brewing by 6.5% during the second quarter. Bahl & Gaynor Inc. now owns 2,650 shares of the company’s stock worth $258,000 after purchasing an additional 161 shares in the last quarter. Institutional investors own 78.00% of the company’s stock.

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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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