Brandywine Global Investment Management LLC raised its stake in shares of Molson Coors Brewing Co (NYSE:TAP) by 24.6% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,678,563 shares of the company’s stock after buying an additional 331,396 shares during the quarter. Brandywine Global Investment Management LLC owned about 0.78% of Molson Coors Brewing worth $94,269,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Hayek Kallen Investment Management grew its holdings in shares of Molson Coors Brewing by 0.4% during the fourth quarter. Hayek Kallen Investment Management now owns 40,287 shares of the company’s stock worth $2,262,000 after purchasing an additional 164 shares in the last quarter. Quadrant Capital Group LLC grew its holdings in shares of Molson Coors Brewing by 18.3% during the fourth quarter. Quadrant Capital Group LLC now owns 1,255 shares of the company’s stock worth $66,000 after purchasing an additional 194 shares in the last quarter. E&G Advisors LP grew its holdings in shares of Molson Coors Brewing by 7.5% during the fourth quarter. E&G Advisors LP now owns 4,300 shares of the company’s stock worth $241,000 after purchasing an additional 300 shares in the last quarter. Castle Rock Wealth Management LLC grew its holdings in shares of Molson Coors Brewing by 5.3% during the fourth quarter. Castle Rock Wealth Management LLC now owns 6,326 shares of the company’s stock worth $421,000 after purchasing an additional 317 shares in the last quarter. Finally, Wetherby Asset Management Inc. grew its holdings in shares of Molson Coors Brewing by 10.6% during the fourth quarter. Wetherby Asset Management Inc. now owns 3,966 shares of the company’s stock worth $223,000 after purchasing an additional 379 shares in the last quarter. 76.23% of the stock is owned by institutional investors and hedge funds.
NYSE:TAP opened at $60.82 on Friday. The company has a market capitalization of $13.02 billion, a P/E ratio of 12.07, a PEG ratio of 2.89 and a beta of 0.78. Molson Coors Brewing Co has a 1-year low of $54.17 and a 1-year high of $81.78. 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 earnings results on Tuesday, February 12th. The company reported $0.84 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.06. The company had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.53 billion. Molson Coors Brewing had a return on equity of 7.89% and a net margin of 8.37%. Molson Coors Brewing’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.62 EPS. On average, equities analysts forecast that Molson Coors Brewing Co will post 4.66 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, March 4th were given a $0.41 dividend. The ex-dividend date was Friday, March 1st. This represents a $1.64 dividend on an annualized basis and a yield of 2.70%. Molson Coors Brewing’s payout ratio is 32.54%.
In related news, CEO Simon Cox sold 9,497 shares of the business’s stock in a transaction that occurred 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.55% of the company’s stock.
TAP has been the subject of several recent analyst reports. Citigroup cut their price objective on Molson Coors Brewing from $72.00 to $69.00 and set a “buy” rating for the company in a report on Thursday, February 14th. Jefferies Financial Group reissued a “sell” rating on shares of Molson Coors Brewing in a report on Tuesday, February 12th. Deutsche Bank lowered Molson Coors Brewing from a “buy” rating to a “hold” rating and cut their price objective for the stock from $72.00 to $63.00 in a report on Tuesday, February 12th. UBS Group initiated coverage on Molson Coors Brewing in a report on Thursday, December 13th. They set a “buy” rating and a $80.00 price objective for the company. Finally, Zacks Investment Research lowered Molson Coors Brewing from a “hold” rating to a “sell” rating in a report on Wednesday, February 13th. Three 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 company. Molson Coors Brewing currently has a consensus rating of “Hold” and an average target price of $71.23.
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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