Blume Capital Management Inc. Buys New Stake in Molson Coors Brewing Co (TAP)

Blume Capital Management Inc. bought a new position in shares of Molson Coors Brewing Co (NYSE:TAP) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 20,975 shares of the company’s stock, valued at approximately $1,178,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. increased its stake in shares of Molson Coors Brewing by 1.5% in the third quarter. BlackRock Inc. now owns 14,104,797 shares of the company’s stock worth $867,444,000 after buying an additional 210,588 shares during the last quarter. Dodge & Cox increased its stake in Molson Coors Brewing by 163.1% during the third quarter. Dodge & Cox now owns 8,367,441 shares of the company’s stock valued at $514,598,000 after purchasing an additional 5,187,400 shares during the last quarter. LSV Asset Management increased its stake in Molson Coors Brewing by 317.4% during the fourth quarter. LSV Asset Management now owns 3,570,297 shares of the company’s stock valued at $200,507,000 after purchasing an additional 2,714,997 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in Molson Coors Brewing by 33.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,715,532 shares of the company’s stock valued at $167,004,000 after purchasing an additional 687,940 shares during the last quarter. Finally, Putnam Investments LLC increased its stake in Molson Coors Brewing by 0.6% during the third quarter. Putnam Investments LLC now owns 2,375,042 shares of the company’s stock valued at $146,065,000 after purchasing an additional 13,929 shares during the last quarter. 80.41% of the stock is currently owned by institutional investors and hedge funds.

Several analysts have weighed in on TAP shares. Standpoint Research started coverage on shares of Molson Coors Brewing in a research note on Tuesday, October 23rd. They set a “buy” rating and a $72.00 target price for the company. UBS Group started coverage on shares of Molson Coors Brewing in a research note on Thursday, December 13th. They set a “buy” rating and a $80.00 target price for the company. Citigroup lowered their target price 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. ValuEngine upgraded shares of Molson Coors Brewing from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 1st. Finally, Zacks Investment Research reiterated a “hold” rating on shares of Molson Coors Brewing in a research note on Friday, November 16th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $75.27.

Molson Coors Brewing stock opened at $65.36 on Tuesday. The stock has a market cap of $14.01 billion, a PE ratio of 14.62, a PEG ratio of 2.93 and a beta of 0.84. 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 one year low of $54.17 and a one year high of $82.29.

In other news, insider Krishnan Anand sold 2,595 shares of the company’s stock in a transaction dated Monday, December 3rd. The shares were sold at an average price of $64.75, for a total transaction of $168,026.25. Following the completion of the transaction, the insider now owns 49,946 shares in the company, valued at $3,234,003.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.55% of the stock is currently owned by corporate insiders.

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Molson Coors Brewing Company 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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Institutional Ownership by Quarter for Molson Coors Brewing (NYSE:TAP)

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