IFM Investors Pty Ltd raised its position in Molson Coors Brewing Co (NYSE:TAP) by 41.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 18,826 shares of the company’s stock after purchasing an additional 5,563 shares during the period. IFM Investors Pty Ltd’s holdings in Molson Coors Brewing were worth $1,082,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the business. RNC Capital Management LLC grew its holdings in Molson Coors Brewing by 3.6% in the second quarter. RNC Capital Management LLC now owns 5,700 shares of the company’s stock valued at $319,000 after purchasing an additional 200 shares during the last quarter. State of Michigan Retirement System grew its holdings in Molson Coors Brewing by 0.4% in the third quarter. State of Michigan Retirement System now owns 45,199 shares of the company’s stock valued at $2,599,000 after purchasing an additional 200 shares during the last quarter. 6 Meridian grew its holdings in Molson Coors Brewing by 2.8% in the second quarter. 6 Meridian now owns 7,969 shares of the company’s stock valued at $446,000 after purchasing an additional 218 shares during the last quarter. Old North State Trust LLC grew its holdings in Molson Coors Brewing by 17.3% in the second quarter. Old North State Trust LLC now owns 1,596 shares of the company’s stock valued at $89,000 after purchasing an additional 235 shares during the last quarter. Finally, FinTrust Capital Advisors LLC grew its holdings in Molson Coors Brewing by 49.9% in the third quarter. FinTrust Capital Advisors LLC now owns 706 shares of the company’s stock valued at $41,000 after purchasing an additional 235 shares during the last quarter. 76.16% of the stock is currently owned by institutional investors.
Shares of TAP traded up $0.28 during trading hours on Friday, reaching $53.79. 1,043,371 shares of the company traded hands, compared to its average volume of 1,685,607. The company has a quick ratio of 0.42, a current ratio of 0.59 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $11.77 billion, a PE ratio of 10.67, a price-to-earnings-growth ratio of 2.11 and a beta of 0.77. Molson Coors Brewing Co has a fifty-two week low of $49.92 and a fifty-two week high of $67.24. The stock has a fifty day simple moving average of $56.00 and a 200 day simple moving average of $55.78.
Molson Coors Brewing (NYSE:TAP) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.48 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.46 by $0.02. Molson Coors Brewing had a return on equity of 6.86% and a net margin of 1.19%. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.87 billion. During the same period last year, the company earned $1.84 EPS. The firm’s quarterly revenue was down 3.1% on a year-over-year basis. Research analysts predict that Molson Coors Brewing Co will post 4.3 EPS for the current fiscal year.
In other Molson Coors Brewing news, VP Brian Tabolt sold 1,825 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $56.94, for a total value of $103,915.50. Following the sale, the vice president now directly owns 6,218 shares of the company’s stock, valued at approximately $354,052.92. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.48% of the stock is currently owned by company insiders.
TAP has been the topic of a number of analyst reports. Guggenheim decreased their price objective on Molson Coors Brewing from $63.00 to $52.00 and set a “neutral” rating on the stock in a research note on Thursday, August 1st. MKM Partners set a $63.00 price objective on Molson Coors Brewing and gave the company a “buy” rating in a research note on Friday, November 1st. Zacks Investment Research raised Molson Coors Brewing from a “sell” rating to a “hold” rating and set a $55.00 price objective on the stock in a research note on Monday, November 4th. Berenberg Bank reaffirmed a “hold” rating and set a $51.00 price objective on shares of Molson Coors Brewing in a research note on Friday, November 1st. Finally, Redburn Partners reaffirmed a “sell” rating on shares of Molson Coors Brewing in a research note on Friday, October 11th. Six research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $58.64.
About Molson Coors Brewing
Molson Coors Brewing Company manufactures, markets, and sells beer and other malt beverage products in the United States, Canada, Europe, and internationally. The company sells various products under the Blue Moon, Coors Banquet, Coors Light, Miller Genuine Draft, Miller Lite, Hamm's, Icehouse, Keystone, Mickey's, Miller64, Miller High Life, Milwaukee's Best, Olde English, Steel Reserve, Grolsch, Hop Valley, Leinenkugel's, Peroni Nastro Azurro, Pilsner Urquell, Revolver, Saint Archer, Sol, Terrapin, Crispin, Smith & Forge, Arnold Palmer Spiked, Henry's Hard, Redd's, and Steel Reserve Alloy Series brands.
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