Molson Coors Brewing (NYSE:TAP) has been assigned a $107.00 price target by equities researchers at Susquehanna Bancshares in a report issued on Monday. The brokerage currently has a “buy” rating on the stock. Susquehanna Bancshares’ price target points to a potential upside of 41.35% from the company’s previous close.
Several other equities analysts have also recently commented on TAP. Zacks Investment Research upgraded shares of Molson Coors Brewing from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Berenberg Bank restated a “sell” rating and issued a $76.00 target price on shares of Molson Coors Brewing in a research report on Friday, November 3rd. Citigroup dropped their target price on shares of Molson Coors Brewing from $106.00 to $102.00 and set a “buy” rating for the company in a research report on Friday, November 3rd. Deutsche Bank initiated coverage on shares of Molson Coors Brewing in a research report on Wednesday, December 13th. They issued a “buy” rating and a $89.00 target price for the company. Finally, Stifel Nicolaus restated a “buy” rating and issued a $116.00 target price on shares of Molson Coors Brewing in a research report on Friday, December 22nd. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $96.61.
Molson Coors Brewing (NYSE:TAP) opened at $75.70 on Monday. The company has a market cap of $17,480.00, a P/E ratio of 7.29, a PEG ratio of 1.99 and a beta of 0.79. The company has a quick ratio of 0.54, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. Molson Coors Brewing has a 12-month low of $72.71 and a 12-month high of $102.14.
In related news, Chairman Peter H. Coors sold 55,603 shares of Molson Coors Brewing stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $85.01, for a total transaction of $4,726,811.03. Following the sale, the chairman now directly owns 319,222 shares of the company’s stock, valued at approximately $27,137,062.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Tracey Joubert sold 1,000 shares of Molson Coors Brewing stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $79.15, for a total transaction of $79,150.00. Following the sale, the chief financial officer now directly owns 22,839 shares in the company, valued at $1,807,706.85. The disclosure for this sale can be found here. Insiders own 2.76% of the company’s stock.
Several institutional investors have recently made changes to their positions in TAP. Dupont Capital Management Corp bought a new stake in shares of Molson Coors Brewing during the 3rd quarter valued at approximately $103,000. Cerebellum GP LLC bought a new stake in Molson Coors Brewing during the 4th quarter worth approximately $129,000. Meeder Asset Management Inc. bought a new stake in Molson Coors Brewing during the 3rd quarter worth approximately $138,000. Valeo Financial Advisors LLC grew its holdings in Molson Coors Brewing by 58.2% during the 4th quarter. Valeo Financial Advisors LLC now owns 1,864 shares of the company’s stock worth $153,000 after acquiring an additional 686 shares during the last quarter. Finally, Advisor Group Inc. grew its holdings in Molson Coors Brewing by 48.9% during the 3rd quarter. Advisor Group Inc. now owns 2,598 shares of the company’s stock worth $213,000 after acquiring an additional 853 shares during the last quarter. 76.90% of the stock is currently owned by 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.
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