BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Molson Coors Brewing Co (NYSE:TAP) by 14.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 47,674 shares of the company’s stock after buying an additional 6,057 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Molson Coors Brewing were worth $2,677,000 as of its most recent filing with the SEC.
Other hedge funds also recently made changes to their positions in the company. Acadian Asset Management LLC increased its position in Molson Coors Brewing by 351.7% during the third quarter. Acadian Asset Management LLC now owns 5,673 shares of the company’s stock worth $349,000 after buying an additional 4,417 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in Molson Coors Brewing by 277.9% during the third quarter. Robeco Institutional Asset Management B.V. now owns 270,071 shares of the company’s stock worth $16,610,000 after buying an additional 198,600 shares in the last quarter. Victory Capital Management Inc. increased its position in Molson Coors Brewing by 181.7% during the third quarter. Victory Capital Management Inc. now owns 147,691 shares of the company’s stock worth $9,083,000 after buying an additional 95,265 shares in the last quarter. Private Advisor Group LLC purchased a new position in Molson Coors Brewing during the third quarter worth $461,000. Finally, Cambridge Investment Research Advisors Inc. increased its position in Molson Coors Brewing by 34.6% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 8,098 shares of the company’s stock worth $498,000 after buying an additional 2,082 shares in the last quarter. 76.23% of the stock is owned by institutional investors and hedge funds.
In related news, CEO Simon Cox sold 9,497 shares of Molson Coors Brewing 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 sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 2.55% of the stock is currently owned by company insiders.
Several equities analysts have weighed in on the company. Zacks Investment Research downgraded Molson Coors Brewing from a “hold” rating to a “sell” rating in a research report on Wednesday, February 13th. BMO Capital Markets lowered their price objective on Molson Coors Brewing from $85.00 to $80.00 and set an “outperform” rating for the company in a research report on Wednesday, February 13th. Morgan Stanley set a $68.00 price objective on Molson Coors Brewing and gave the company a “hold” rating in a research report on Thursday, December 20th. UBS Group initiated coverage on Molson Coors Brewing in a research report on Thursday, December 13th. They issued a “buy” rating and a $80.00 price objective for the company. Finally, Deutsche Bank downgraded Molson Coors Brewing from a “buy” rating to a “hold” rating and lowered their price objective for the company from $72.00 to $63.00 in a research report on Tuesday, February 12th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company’s stock. Molson Coors Brewing presently has a consensus rating of “Hold” and an average target price of $71.23.
Shares of NYSE:TAP opened at $60.82 on Friday. The firm has a market capitalization of $13.02 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 2.89 and a beta of 0.78. 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 Co has a 52 week low of $54.17 and a 52 week high of $81.78.
Molson Coors Brewing (NYSE:TAP) last issued its 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 firm had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.53 billion. During the same quarter last year, the firm earned $0.62 earnings per share. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. On average, research analysts anticipate that Molson Coors Brewing Co will post 4.66 earnings per share 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 issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend was Friday, March 1st. Molson Coors Brewing’s payout ratio is currently 32.54%.
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Molson Coors Brewing Company 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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