Macquarie Group Ltd. lessened its stake in Molson Coors Brewing Co (NYSE:TAP) by 6.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,500 shares of the company’s stock after selling 300 shares during the quarter. Macquarie Group Ltd.’s holdings in Molson Coors Brewing were worth $252,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Bowling Portfolio Management LLC purchased a new position in Molson Coors Brewing in the 4th quarter worth approximately $2,727,000. Standard Life Aberdeen plc boosted its holdings in Molson Coors Brewing by 11.3% in the 3rd quarter. Standard Life Aberdeen plc now owns 797,948 shares of the company’s stock worth $49,078,000 after acquiring an additional 81,014 shares during the period. Clarkston Capital Partners LLC purchased a new position in Molson Coors Brewing in the 4th quarter worth approximately $67,455,000. Nordea Investment Management AB grew its stake in shares of Molson Coors Brewing by 3.2% in the third quarter. Nordea Investment Management AB now owns 309,506 shares of the company’s stock worth $19,034,000 after purchasing an additional 9,722 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its stake in shares of Molson Coors Brewing by 37.0% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 370,009 shares of the company’s stock worth $20,758,000 after purchasing an additional 99,938 shares in the last quarter. Hedge funds and other institutional investors own 76.51% of the company’s stock.
Shares of TAP stock opened at $60.45 on Tuesday. Molson Coors Brewing Co has a fifty-two week low of $54.17 and a fifty-two week high of $73.93. The stock has a market cap of $12.97 billion, a P/E ratio of 11.99, a PEG ratio of 3.51 and a beta of 0.77. The company has a quick ratio of 0.51, a current ratio of 0.64 and a debt-to-equity ratio of 0.65.
Molson Coors Brewing (NYSE:TAP) last released its quarterly earnings results on Tuesday, February 12th. The company reported $0.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.78 by $0.06. Molson Coors Brewing had a return on equity of 7.89% and a net margin of 8.37%. The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.53 billion. During the same quarter last year, the company posted $0.62 EPS. Molson Coors Brewing’s revenue for the quarter was down 6.2% on a year-over-year basis. As a group, sell-side analysts predict that Molson Coors Brewing Co will post 4.63 EPS for the current fiscal year.
In related news, CEO Simon Cox sold 9,497 shares of the stock in a transaction on Tuesday, February 19th. The stock was sold at an average price of $60.69, for a total value of $576,372.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 2.55% of the company’s stock.
TAP has been the subject of several research reports. Deutsche Bank cut Molson Coors Brewing from a “buy” rating to a “hold” rating and decreased their target price for the company from $72.00 to $63.00 in a research note on Tuesday, February 12th. BMO Capital Markets decreased their target price on Molson Coors Brewing from $85.00 to $80.00 and set an “outperform” rating for the company in a research note on Wednesday, February 13th. Jefferies Financial Group reaffirmed a “sell” rating on shares of Molson Coors Brewing in a research note on Wednesday, April 10th. Citigroup decreased their target price on Molson Coors Brewing from $72.00 to $69.00 and set a “buy” rating for the company in a research note on Thursday, February 14th. Finally, Zacks Investment Research cut Molson Coors Brewing from a “hold” rating to a “sell” rating in a research note on Wednesday, February 13th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $71.23.
Molson Coors Brewing Profile
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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