Molson Coors Brewing (TAP) Now Covered by Morgan Stanley

Morgan Stanley began coverage on shares of Molson Coors Brewing (NYSE:TAP) in a research report sent to investors on Tuesday, MarketBeat.com reports. The firm issued an equal weight rating and a $88.00 price target on the stock.

Several other equities analysts have also recently weighed in on TAP. Berenberg Bank initiated coverage on Molson Coors Brewing in a research note on Wednesday, September 13th. They set a sell rating and a $78.00 price objective on the stock. Susquehanna Bancshares restated a buy rating and set a $108.00 price objective (down from $118.00) on shares of Molson Coors Brewing in a research note on Friday, September 22nd. Cowen restated a hold rating and set a $96.00 price objective on shares of Molson Coors Brewing in a research note on Thursday, September 28th. Credit Suisse Group set a $92.00 price objective on Molson Coors Brewing and gave the company a hold rating in a research note on Friday, September 29th. Finally, Zacks Investment Research upgraded Molson Coors Brewing from a strong sell rating to a hold rating in a research note on Tuesday, October 3rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Hold and a consensus target price of $96.94.

Shares of Molson Coors Brewing (NYSE:TAP) traded up $0.39 on Tuesday, hitting $84.88. The company had a trading volume of 1,191,349 shares, compared to its average volume of 1,093,541. Molson Coors Brewing has a 12 month low of $76.25 and a 12 month high of $102.14. The company has a current ratio of 0.69, a quick ratio of 0.54 and a debt-to-equity ratio of 0.83. The company has a market cap of $18,199.14, a PE ratio of 8.19, a P/E/G ratio of 2.19 and a beta of 0.83.

Molson Coors Brewing (NYSE:TAP) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $1.34 earnings per share for the quarter, meeting the consensus estimate of $1.34. Molson Coors Brewing had a return on equity of 7.54% and a net margin of 17.04%. The business had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.97 billion. During the same period last year, the business earned $1.03 EPS. The business’s revenue was up 204.3% on a year-over-year basis. analysts anticipate that Molson Coors Brewing will post 4.33 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Thursday, November 30th were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 1.93%. The ex-dividend date was Wednesday, November 29th. Molson Coors Brewing’s dividend payout ratio is presently 15.83%.

In other news, CFO Tracey Joubert sold 1,000 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $79.15, for a total transaction of $79,150.00. Following the completion of the sale, the chief financial officer now directly owns 22,839 shares of the company’s stock, valued at approximately $1,807,706.85. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 2.76% of the company’s stock.

Several institutional investors have recently made changes to their positions in the company. FMR LLC increased its position in shares of Molson Coors Brewing by 3.2% during the 2nd quarter. FMR LLC now owns 18,229,807 shares of the company’s stock valued at $1,573,961,000 after purchasing an additional 562,180 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Molson Coors Brewing by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 17,735,626 shares of the company’s stock valued at $1,531,294,000 after purchasing an additional 429,859 shares during the last quarter. BlackRock Inc. increased its position in shares of Molson Coors Brewing by 1.9% during the 2nd quarter. BlackRock Inc. now owns 10,875,972 shares of the company’s stock valued at $939,033,000 after purchasing an additional 199,962 shares during the last quarter. Lazard Asset Management LLC increased its position in shares of Molson Coors Brewing by 33.0% during the 2nd quarter. Lazard Asset Management LLC now owns 10,538,919 shares of the company’s stock valued at $909,928,000 after purchasing an additional 2,616,561 shares during the last quarter. Finally, State Street Corp increased its position in shares of Molson Coors Brewing by 0.4% during the 2nd quarter. State Street Corp now owns 7,716,908 shares of the company’s stock valued at $666,275,000 after purchasing an additional 31,654 shares during the last quarter. 77.67% of the stock is owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Molson Coors Brewing (NYSE:TAP)

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