Guggenheim Capital LLC increased its position in shares of Molson Coors Brewing Co (NYSE:TAP) by 53.1% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 895,874 shares of the company’s stock after purchasing an additional 310,780 shares during the quarter. Guggenheim Capital LLC owned 0.42% of Molson Coors Brewing worth $73,526,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of TAP. Independent Franchise Partners LLP lifted its stake in Molson Coors Brewing by 41.3% in the fourth quarter. Independent Franchise Partners LLP now owns 8,707,547 shares of the company’s stock valued at $714,628,000 after buying an additional 2,546,533 shares during the last quarter. Epoch Investment Partners Inc. lifted its stake in Molson Coors Brewing by 852.1% in the third quarter. Epoch Investment Partners Inc. now owns 2,428,882 shares of the company’s stock valued at $198,294,000 after buying an additional 2,173,761 shares during the last quarter. Maverick Capital Ltd. lifted its stake in Molson Coors Brewing by 65.2% in the fourth quarter. Maverick Capital Ltd. now owns 3,727,466 shares of the company’s stock valued at $305,913,000 after buying an additional 1,471,573 shares during the last quarter. TD Asset Management Inc. lifted its stake in Molson Coors Brewing by 1,749.8% in the third quarter. TD Asset Management Inc. now owns 1,262,242 shares of the company’s stock valued at $103,049,000 after buying an additional 1,194,006 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in Molson Coors Brewing by 23.4% in the third quarter. Wells Fargo & Company MN now owns 3,185,329 shares of the company’s stock valued at $260,048,000 after buying an additional 603,947 shares during the last quarter. Institutional investors own 77.09% of the company’s stock.
A number of research analysts have recently commented on the company. Zacks Investment Research lowered Molson Coors Brewing from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 10th. Morgan Stanley assumed coverage on Molson Coors Brewing in a report on Tuesday, January 9th. They set an “equal weight” rating and a $88.00 price target on the stock. Barclays assumed coverage on Molson Coors Brewing in a report on Wednesday, January 10th. They set an “overweight” rating and a $94.00 price target on the stock. Stifel Nicolaus reissued a “buy” rating and set a $112.00 price target on shares of Molson Coors Brewing in a report on Friday, February 2nd. Finally, Deutsche Bank assumed coverage on Molson Coors Brewing in a report on Wednesday, December 13th. They set a “buy” rating and a $89.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. Molson Coors Brewing presently has a consensus rating of “Buy” and an average target price of $96.88.
Molson Coors Brewing (NYSE:TAP) last announced its quarterly earnings data on Wednesday, February 14th. The company reported $0.62 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.06. Molson Coors Brewing had a return on equity of 7.55% and a net margin of 10.34%. The firm had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same period last year, the company posted $0.47 EPS. The business’s quarterly revenue was up 4.5% compared to the same quarter last year. research analysts expect that Molson Coors Brewing Co will post 5.16 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Shareholders of record on Monday, March 5th will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Friday, March 2nd. This represents a $1.64 dividend on an annualized basis and a yield of 2.02%. Molson Coors Brewing’s payout ratio is presently 25.51%.
In other Molson Coors Brewing news, Chairman Peter H. Coors sold 55,603 shares of the firm’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $85.01, for a total transaction of $4,726,811.03. Following the completion of the sale, the chairman now directly owns 319,222 shares in the company, valued at approximately $27,137,062.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 2.76% of the company’s stock.
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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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