Bank of New York Mellon Corp grew its stake in shares of Molson Coors Brewing Co (NYSE:TAP) by 0.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,356,022 shares of the company’s stock after acquiring an additional 5,147 shares during the period. Bank of New York Mellon Corp owned 0.63% of Molson Coors Brewing worth $92,264,000 as of its most recent SEC filing.
Several other institutional investors also recently bought and sold shares of the company. Fairpointe Capital LLC lifted its stake in shares of Molson Coors Brewing by 42,908.9% in the 2nd quarter. Fairpointe Capital LLC now owns 1,376,285 shares of the company’s stock valued at $93,643,000 after purchasing an additional 1,373,085 shares during the last quarter. BlackRock Inc. lifted its stake in shares of Molson Coors Brewing by 10.9% in the 2nd quarter. BlackRock Inc. now owns 13,894,209 shares of the company’s stock valued at $945,363,000 after purchasing an additional 1,367,047 shares during the last quarter. Thompson Siegel & Walmsley LLC acquired a new stake in shares of Molson Coors Brewing in the 2nd quarter valued at $66,077,000. Massachusetts Financial Services Co. MA lifted its stake in shares of Molson Coors Brewing by 59.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,027,592 shares of the company’s stock valued at $137,957,000 after purchasing an additional 758,900 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Molson Coors Brewing by 29.1% in the 2nd quarter. American Century Companies Inc. now owns 2,510,468 shares of the company’s stock valued at $170,812,000 after purchasing an additional 565,994 shares during the last quarter. Institutional investors and hedge funds own 76.76% of the company’s stock.
Several equities research analysts recently issued reports on the stock. Zacks Investment Research raised shares of Molson Coors Brewing from a “sell” rating to a “hold” rating in a research note on Friday, October 26th. Susquehanna Bancshares lifted their price objective on shares of Molson Coors Brewing from $80.00 to $84.00 and gave the company a “positive” rating in a research note on Thursday, August 2nd. ValuEngine raised shares of Molson Coors Brewing from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 1st. Citigroup reduced their price objective on shares of Molson Coors Brewing from $78.00 to $72.00 and set a “buy” rating for the company in a research note on Thursday, November 1st. Finally, Morgan Stanley boosted their target price on shares of Molson Coors Brewing from $69.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 2nd. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $75.36.
Molson Coors Brewing stock opened at $64.50 on Friday. The firm has a market cap of $13.52 billion, a price-to-earnings ratio of 14.43, a PEG ratio of 2.78 and a beta of 0.56. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.64 and a quick ratio of 0.49. Molson Coors Brewing Co has a fifty-two week low of $55.52 and a fifty-two week high of $85.86.
Molson Coors Brewing (NYSE:TAP) last released its earnings results on Wednesday, October 31st. The company reported $1.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.59 by $0.25. The firm had revenue of $2.93 billion during the quarter, compared to analyst estimates of $2.92 billion. Molson Coors Brewing had a net margin of 12.05% and a return on equity of 7.58%. The business’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.34 EPS. Equities analysts forecast that Molson Coors Brewing Co will post 4.97 earnings per share for the current fiscal year.
In other Molson Coors Brewing news, insider Krishnan Anand sold 2,595 shares of the business’s stock in a transaction on Tuesday, September 4th. The shares were sold at an average price of $66.26, for a total transaction of $171,944.70. Following the completion of the transaction, the insider now owns 49,946 shares of the company’s stock, valued at approximately $3,309,421.96. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last three months, insiders have sold 7,785 shares of company stock valued at $499,512. Company insiders own 2.55% of the company’s stock.
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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