DekaBank Deutsche Girozentrale decreased its holdings in Molson Coors Brewing Co (NYSE:TAP) by 7.5% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,884 shares of the company’s stock after selling 7,191 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in Molson Coors Brewing were worth $6,773,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of TAP. Independent Franchise Partners LLP boosted its position in shares of Molson Coors Brewing by 41.3% in the 4th quarter. Independent Franchise Partners LLP now owns 8,707,547 shares of the company’s stock worth $714,628,000 after purchasing an additional 2,546,533 shares in the last quarter. Maverick Capital Ltd. boosted its position in shares of Molson Coors Brewing by 65.2% in the 4th quarter. Maverick Capital Ltd. now owns 3,727,466 shares of the company’s stock worth $305,913,000 after purchasing an additional 1,471,573 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its position in Molson Coors Brewing by 21.1% during the 1st quarter. Diamond Hill Capital Management Inc. now owns 4,362,297 shares of the company’s stock worth $328,612,000 after acquiring an additional 759,405 shares during the period. Wells Fargo & Company MN lifted its position in Molson Coors Brewing by 19.1% during the 1st quarter. Wells Fargo & Company MN now owns 4,281,419 shares of the company’s stock worth $322,519,000 after acquiring an additional 686,032 shares during the period. Finally, Champlain Investment Partners LLC lifted its position in Molson Coors Brewing by 79.6% during the 4th quarter. Champlain Investment Partners LLC now owns 1,329,475 shares of the company’s stock worth $109,110,000 after acquiring an additional 589,290 shares during the period. 79.43% of the stock is owned by hedge funds and other institutional investors.
In related news, insider Krishnan Anand sold 2,595 shares of Molson Coors Brewing stock in a transaction dated Tuesday, May 1st. The stock was sold at an average price of $71.24, for a total value of $184,867.80. Following the completion of the transaction, the insider now owns 49,946 shares in the company, valued at approximately $3,558,153.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Mark Hunter sold 2,070 shares of Molson Coors Brewing stock in a transaction dated Thursday, May 3rd. The shares were sold at an average price of $61.26, for a total value of $126,808.20. Following the completion of the transaction, the chief executive officer now owns 147,275 shares of the company’s stock, valued at approximately $9,022,066.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,868 shares of company stock valued at $328,054. 2.55% of the stock is owned by company insiders.
NYSE TAP opened at $60.26 on Friday. The stock has a market cap of $12.97 billion, a price-to-earnings ratio of 13.48, a P/E/G ratio of 1.54 and a beta of 0.81. Molson Coors Brewing Co has a fifty-two week low of $59.93 and a fifty-two week high of $60.48. The company has a quick ratio of 0.36, a current ratio of 0.52 and a debt-to-equity ratio of 0.70.
Molson Coors Brewing (NYSE:TAP) last released its quarterly earnings data on Wednesday, February 14th. The company reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.56 by $0.06. Molson Coors Brewing had a return on equity of 6.81% and a net margin of 10.95%. The business had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same quarter last year, the business posted $0.47 EPS. The company’s revenue was up 4.5% on a year-over-year basis. analysts forecast that Molson Coors Brewing Co will post 4.89 EPS for the current year.
TAP has been the subject of a number of research reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $112.00 price target on shares of Molson Coors Brewing in a research report on Friday, February 2nd. Citigroup lowered their price target on Molson Coors Brewing from $102.00 to $88.00 and set a “buy” rating for the company in a research report on Thursday, April 5th. Zacks Investment Research raised Molson Coors Brewing from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a research report on Monday, February 19th. Susquehanna Bancshares set a $107.00 price target on Molson Coors Brewing and gave the stock a “buy” rating in a research report on Monday, February 12th. Finally, Deutsche Bank lowered their price target on Molson Coors Brewing from $83.00 to $70.00 and set a “buy” rating for the company in a research report on Thursday, May 3rd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $81.54.
Molson Coors Brewing 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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