Fjarde AP Fonden Fourth Swedish National Pension Fund lowered its position in Molson Coors Brewing Company (NYSE:TAP) by 4.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 42,160 shares of the company’s stock after selling 1,752 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Molson Coors Brewing were worth $3,442,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the company. FMR LLC increased its position in Molson Coors Brewing by 3.2% during the 2nd quarter. FMR LLC now owns 18,229,807 shares of the company’s stock worth $1,573,961,000 after purchasing an additional 562,180 shares in the last quarter. Vanguard Group Inc. increased its position in Molson Coors Brewing by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 17,735,626 shares of the company’s stock worth $1,531,294,000 after purchasing an additional 429,859 shares in the last quarter. JPMorgan Chase & Co. increased its position in Molson Coors Brewing by 33.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 16,058,334 shares of the company’s stock worth $1,386,476,000 after purchasing an additional 4,001,480 shares in the last quarter. BlackRock Inc. increased its position in Molson Coors Brewing by 1.9% during the 2nd quarter. BlackRock Inc. now owns 10,875,972 shares of the company’s stock worth $939,033,000 after purchasing an additional 199,962 shares in the last quarter. Finally, Lazard Asset Management LLC grew its holdings in Molson Coors Brewing by 33.0% in the 2nd quarter. Lazard Asset Management LLC now owns 10,538,919 shares of the company’s stock valued at $909,928,000 after buying an additional 2,616,561 shares during the period. Institutional investors and hedge funds own 78.00% of the company’s stock.
Several research firms have commented on TAP. Susquehanna Bancshares set a $108.00 price target on Molson Coors Brewing and gave the company a “buy” rating in a report on Wednesday, November 1st. Zacks Investment Research cut Molson Coors Brewing from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 8th. UBS restated a “neutral” rating and issued a $98.00 price target (up previously from $96.00) on shares of Molson Coors Brewing in a report on Wednesday, August 9th. Berenberg Bank reaffirmed a “sell” rating and issued a $76.00 price objective on shares of Molson Coors Brewing in a research note on Friday, November 3rd. Finally, Credit Suisse Group set a $92.00 price objective on Molson Coors Brewing and gave the company a “hold” rating in a research note on Friday, September 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $98.92.
Shares of Molson Coors Brewing Company (TAP) traded up $1.30 on Monday, hitting $80.51. The company’s stock had a trading volume of 1,587,080 shares, compared to its average volume of 1,602,580. Molson Coors Brewing Company has a one year low of $76.25 and a one year high of $102.14. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.54 and a current ratio of 0.69. The firm has a market cap of $18,570.00, a price-to-earnings ratio of 18.77, a price-to-earnings-growth ratio of 2.32 and a beta of 0.82.
Molson Coors Brewing (NYSE:TAP) last issued its quarterly earnings results on Wednesday, November 1st. The company reported $1.34 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.34. The business had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.97 billion. Molson Coors Brewing had a return on equity of 7.54% and a net margin of 17.04%. The business’s quarterly revenue was up 204.3% on a year-over-year basis. During the same period in the previous year, the business earned $1.03 EPS. analysts anticipate that Molson Coors Brewing Company will post 4.34 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be paid a dividend of $0.41 per share. The ex-dividend date is Wednesday, November 29th. This represents a $1.64 dividend on an annualized basis and a yield of 2.04%. Molson Coors Brewing’s payout ratio is currently 15.80%.
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About Molson Coors Brewing
Molson Coors Brewing Company (MCBC) is a holding company. The Company operates as a brewer. The Company’s segments include MillerCoors LLC (United States segment), operating in the United States; Molson Coors Canada (Canada segment), operating in Canada; Molson Coors Europe (Europe segment), operating in Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, Republic of Ireland, Romania, Serbia, the United Kingdom and various other European countries; Molson Coors International (Molson Coors International segment), operating in various other countries, and Corporate.
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