Contrarius Investment Management Ltd reduced its stake in shares of Molson Coors Brewing Co (NYSE:TAP) by 4.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 350,472 shares of the company’s stock after selling 16,467 shares during the quarter. Molson Coors Brewing makes up about 1.0% of Contrarius Investment Management Ltd’s holdings, making the stock its 26th biggest holding. Contrarius Investment Management Ltd owned about 0.16% of Molson Coors Brewing worth $18,890,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors also recently modified their holdings of the business. Synovus Financial Corp increased its position in Molson Coors Brewing by 68.0% during the 4th quarter. Synovus Financial Corp now owns 840 shares of the company’s stock valued at $45,000 after purchasing an additional 340 shares during the period. Crossmark Global Holdings Inc. increased its position in Molson Coors Brewing by 7.1% during the 4th quarter. Crossmark Global Holdings Inc. now owns 8,422 shares of the company’s stock valued at $454,000 after purchasing an additional 555 shares during the period. Meridian Investment Counsel Inc. increased its position in Molson Coors Brewing by 11.4% during the 4th quarter. Meridian Investment Counsel Inc. now owns 50,689 shares of the company’s stock valued at $2,732,000 after purchasing an additional 5,200 shares during the period. Robeco Institutional Asset Management B.V. increased its position in Molson Coors Brewing by 35.1% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 769,595 shares of the company’s stock valued at $41,481,000 after purchasing an additional 199,937 shares during the period. Finally, State Street Corp increased its position in Molson Coors Brewing by 2.8% during the 4th quarter. State Street Corp now owns 9,357,708 shares of the company’s stock valued at $504,380,000 after purchasing an additional 251,413 shares during the period. 77.83% of the stock is currently owned by institutional investors and hedge funds.
TAP has been the topic of a number of research analyst reports. Morgan Stanley boosted their price objective on shares of Molson Coors Brewing from $52.00 to $56.00 and gave the company an “equal weight” rating in a research report on Tuesday, January 21st. Zacks Investment Research upgraded shares of Molson Coors Brewing from a “sell” rating to a “hold” rating and set a $55.00 target price on the stock in a report on Monday, November 4th. Barclays cut shares of Molson Coors Brewing from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $59.00 to $54.00 in a report on Monday, November 25th. Citigroup boosted their target price on shares of Molson Coors Brewing from $60.00 to $65.00 and gave the company a “buy” rating in a report on Thursday. Finally, Deutsche Bank dropped their target price on shares of Molson Coors Brewing from $56.00 to $50.00 and set a “hold” rating on the stock in a report on Thursday, October 31st. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $55.17.
Molson Coors Brewing stock opened at $55.36 on Friday. The firm has a 50 day moving average of $55.67 and a 200 day moving average of $54.17. The firm has a market capitalization of $12.51 billion, a price-to-earnings ratio of 77.97, a P/E/G ratio of 2.43 and a beta of 0.78. Molson Coors Brewing Co has a 12-month low of $49.82 and a 12-month high of $64.32. The company has a current ratio of 0.59, a quick ratio of 0.42 and a debt-to-equity ratio of 0.60.
Molson Coors Brewing (NYSE:TAP) last released its earnings results on Wednesday, February 12th. The company reported $1.02 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.78 by $0.24. The company had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.48 billion. Molson Coors Brewing had a net margin of 1.19% and a return on equity of 6.86%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.84 EPS. On average, analysts predict that Molson Coors Brewing Co will post 4.28 EPS for the current year.
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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