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Snatch This Bargain Dividend Stock Even Cheaper Than CFO Glendinning Did
By Dividend Channel Staff, Friday, November 18, 1:56 PM ET
There's an old saying on Wall Street about insider buying: there are many possible reasons to sell a stock, but only one reason to buy. Back on August 5, Molson Coors Brewing Co.'s Chief Financial Officer, Stewart Glendinning, invested $125,464.80 into 3,000 shares of TAP, for a cost per share of $41.82. Bargain hunters tend to pay particular attention to insider buys like this one, because presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money.
In trading on Friday, bargain hunters could buy shares of Molson Coors Brewing Co. (NYSE:TAP) and achieve a cost basis 6.2% cheaper than Glendinning, with shares changing hands as low as $39.24 per share. It should be noted that Glendinning has collected $0.32/share in dividends since the time of their purchase, so they are currently down 5.4% on their purchase from a total return basis. Molson Coors Brewing Co. shares are currently trading off about 0.1% on the day. The chart below shows the one year performance of TAP shares, versus its 200 day moving average:
Looking at the chart above, TAP's low point in its 52 week range is $37.99 per share, with $51.11 as the 52 week high point — that compares with a last trade of $39.45. By comparison, below is a table showing the prices at which insider buying was recorded over the last six months:
||Chief Financial Officer
||Peter H Coors
The current annualized dividend paid by Molson Coors Brewing Co. is $1.28/share, currently paid in quarterly installments, and its most recent dividend ex-date was on 08/29/2011. Below is a long-term dividend history chart for TAP, which can be of good help in judging whether the most recent dividend with approx. 3.2% annualized yield is likely to continue.
According to the ETF Finder at ETF Channel, TAP makes up 3.03% of the Rydex S&P 500 Equal Weight Consumer Staples ETF (AMEX:RHS) which is trading higher by about 0.8% on the day Friday.
See what other ETFs contain TAP »
See what other stocks are held by RHS »
TAP operates in the Beverages & Wineries sector, among companies like SodaStream International Ltd (NASDAQ:SODA) which is down about 1.2% today, and Heckmann Corp (HEK) trading lower by about 2.1%. Below is a three month price history chart comparing the stock performance of TAP, versus SODA and HEK.
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Relevant Stock Market Definitions
The Importance of Dividends
, Exchange Traded Fund Definition
, The Importance of ETFs
, Dow Jones Industrial Average Definition
, Form 4 Definition
, The Importance of Insider Buying
, Margin Call Definition
, Short Sale Definition
, Nasdaq Definition
, Price-To-Earnings Definition
, What is an ETN?
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