Molson Coors Brewing Co Class B (TAP) Coverage Initiated at Guggenheim

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Guggenheim started coverage on shares of Molson Coors Brewing Co Class B (NYSE:TAP) in a research report report published on Thursday morning, The Fly reports. The firm issued a neutral rating and a $66.00 price objective on the stock.

TAP has been the subject of a number of other research reports. Morgan Stanley increased their price target on shares of Molson Coors Brewing Co Class B from $69.00 to $74.00 and gave the stock an equal weight rating in a research note on Thursday, August 2nd. Susquehanna Bancshares increased their price target on shares of Molson Coors Brewing Co Class B from $80.00 to $84.00 and gave the stock a positive rating in a research note on Thursday, August 2nd. Jefferies Financial Group initiated coverage on shares of Molson Coors Brewing Co Class B in a research note on Friday, September 7th. They set an underperform rating and a $55.00 price target for the company. Berenberg Bank set a $67.00 price target on shares of Molson Coors Brewing Co Class B and gave the stock a hold rating in a research note on Tuesday, September 11th. Finally, Zacks Investment Research upgraded shares of Molson Coors Brewing Co Class B from a sell rating to a hold rating in a research note on Saturday, July 7th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and a consensus price target of $77.50.

Shares of Molson Coors Brewing Co Class B stock opened at $63.14 on Thursday. Molson Coors Brewing Co Class B has a 12-month low of $58.75 and a 12-month high of $87.88. The company has a quick ratio of 0.51, a current ratio of 0.66 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $13.61 billion, a PE ratio of 14.13, a P/E/G ratio of 2.55 and a beta of 0.72.

Molson Coors Brewing Co Class B (NYSE:TAP) last issued its earnings results on Wednesday, August 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.83 by $0.05. Molson Coors Brewing Co Class B had a net margin of 11.68% and a return on equity of 6.97%. The business had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the prior year, the business posted $1.70 EPS. The company’s revenue for the quarter was down .2% on a year-over-year basis. research analysts expect that Molson Coors Brewing Co Class B will post 4.82 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 17th. Stockholders of record on Friday, August 31st will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.60%. The ex-dividend date of this dividend is Thursday, August 30th. Molson Coors Brewing Co Class B’s dividend payout ratio (DPR) is presently 36.69%.

In other news, insider Krishnan Anand sold 2,595 shares of the firm’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $66.26, for a total value of $171,944.70. Following the completion of the sale, the insider now owns 49,946 shares in the company, valued at approximately $3,309,421.96. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.55% of the stock is currently owned by company insiders.

Several hedge funds have recently added to or reduced their stakes in TAP. Independent Franchise Partners LLP lifted its stake in shares of Molson Coors Brewing Co Class B by 20.8% in the 1st quarter. Independent Franchise Partners LLP now owns 10,520,004 shares of the company’s stock worth $792,471,000 after acquiring an additional 1,812,457 shares during the period. Fairpointe Capital LLC lifted its stake in shares of Molson Coors Brewing Co Class B by 42,908.9% in the 2nd quarter. Fairpointe Capital LLC now owns 1,376,285 shares of the company’s stock worth $93,643,000 after acquiring an additional 1,373,085 shares during the period. BlackRock Inc. lifted its stake in shares of Molson Coors Brewing Co Class B by 10.9% in the 2nd quarter. BlackRock Inc. now owns 13,894,209 shares of the company’s stock worth $945,363,000 after acquiring an additional 1,367,047 shares during the period. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Molson Coors Brewing Co Class B in the 2nd quarter worth $66,077,000. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Molson Coors Brewing Co Class B by 59.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,027,592 shares of the company’s stock worth $137,957,000 after acquiring an additional 758,900 shares during the period. Institutional investors own 76.45% of the company’s stock.

Molson Coors Brewing Co Class B Company Profile

Molson Coors Brewing Company manufactures and sells beer and other beverage products in the United States, Canada, Europe, and internationally. It sells various products under the Coors Light, Miller Lite, Coors Banquet, the Blue Moon Brewing Company brands, the Jacob Leinenkugel Brewing Company brands, Keystone, Icehouse, Mickey's, Miller 64, Miller Genuine Draft, Miller High Life, Milwaukee's Best, Hamm's, Olde English 800, Steel Reserve, Crispin, Smith & Forge, Redd's, the Henry's Hard Soda, and Steel Reserve Alloy Series brands.

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Analyst Recommendations for Molson Coors Brewing Co Class B (NYSE:TAP)

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