Symons Capital Management Inc. lessened its stake in shares of Molson Coors Brewing Co (NYSE:TAP) by 10.0% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 121,549 shares of the company’s stock after selling 13,506 shares during the quarter. Molson Coors Brewing comprises about 3.2% of Symons Capital Management Inc.’s holdings, making the stock its 11th biggest holding. Symons Capital Management Inc. owned 0.06% of Molson Coors Brewing worth $6,989,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently modified their holdings of the company. CWM LLC lifted its position in shares of Molson Coors Brewing by 1,000.0% during the 3rd quarter. CWM LLC now owns 550 shares of the company’s stock worth $32,000 after buying an additional 500 shares during the last quarter. Ossiam purchased a new stake in Molson Coors Brewing in the 2nd quarter valued at $31,000. Massey Quick Simon & CO. LLC purchased a new stake in Molson Coors Brewing in the 3rd quarter valued at $35,000. Capital Bank & Trust Co purchased a new stake in Molson Coors Brewing in the 2nd quarter valued at $39,000. Finally, FinTrust Capital Advisors LLC raised its position in Molson Coors Brewing by 49.9% in the 3rd quarter. FinTrust Capital Advisors LLC now owns 706 shares of the company’s stock valued at $41,000 after purchasing an additional 235 shares during the last quarter. Institutional investors and hedge funds own 76.16% of the company’s stock.
TAP traded up $0.28 during trading on Friday, hitting $53.79. The stock had a trading volume of 1,043,371 shares, compared to its average volume of 1,685,607. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.42 and a current ratio of 0.59. The firm has a market capitalization of $11.77 billion, a P/E ratio of 10.67, a PEG ratio of 2.11 and a beta of 0.77. The company’s 50-day moving average price is $56.00 and its 200 day moving average price is $55.78. Molson Coors Brewing Co has a twelve month low of $49.92 and a twelve month high of $67.24.
Molson Coors Brewing (NYSE:TAP) last announced its quarterly earnings data on Wednesday, October 30th. The company reported $1.48 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.46 by $0.02. The company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.87 billion. Molson Coors Brewing had a net margin of 1.19% and a return on equity of 6.86%. Molson Coors Brewing’s revenue was down 3.1% compared to the same quarter last year. During the same period in the previous year, the company posted $1.84 EPS. As a group, equities analysts expect that Molson Coors Brewing Co will post 4.3 earnings per share for the current fiscal year.
TAP has been the subject of several research reports. ValuEngine upgraded shares of Molson Coors Brewing from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Redburn Partners reiterated a “sell” rating on shares of Molson Coors Brewing in a research report on Friday, October 11th. Guggenheim reduced their price target on shares of Molson Coors Brewing from $63.00 to $52.00 and set a “neutral” rating for the company in a research report on Thursday, August 1st. Deutsche Bank reduced their price target on shares of Molson Coors Brewing from $56.00 to $50.00 and set a “hold” rating for the company in a research report on Thursday, October 31st. Finally, Berenberg Bank reiterated a “hold” rating and issued a $51.00 price target on shares of Molson Coors Brewing in a research report on Friday, November 1st. Six research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $58.64.
In other Molson Coors Brewing news, VP Brian Tabolt sold 1,825 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $56.94, for a total value of $103,915.50. Following the transaction, the vice president now directly owns 6,218 shares of the company’s stock, valued at approximately $354,052.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.48% of the company’s stock.
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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