Victory Capital Management Inc. boosted its holdings in Molson Coors Brewing Company (NYSE:TAP) by 34.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,327 shares of the company’s stock after buying an additional 6,769 shares during the quarter. Victory Capital Management Inc.’s holdings in Molson Coors Brewing were worth $2,149,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Independent Franchise Partners LLP acquired a new stake in shares of Molson Coors Brewing during the 2nd quarter worth approximately $444,131,000. Maverick Capital Ltd. acquired a new stake in shares of Molson Coors Brewing during the 2nd quarter worth approximately $438,738,000. JPMorgan Chase & Co. grew its position in Molson Coors Brewing by 33.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 16,058,334 shares of the company’s stock valued at $1,386,476,000 after purchasing an additional 4,001,480 shares during the period. Lazard Asset Management LLC grew its position 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 purchasing an additional 2,616,561 shares during the period. Finally, Diamond Hill Capital Management Inc. grew its position in Molson Coors Brewing by 353.7% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 2,627,608 shares of the company’s stock valued at $226,868,000 after purchasing an additional 2,048,467 shares during the period. Institutional investors and hedge funds own 78.00% of the company’s stock.
Several analysts recently issued reports on the stock. UBS reissued a “neutral” rating and issued a $98.00 price target (up previously from $96.00) on shares of Molson Coors Brewing in a research report on Wednesday, August 9th. Credit Suisse Group set a $92.00 price target on shares of Molson Coors Brewing and gave the company a “hold” rating in a research report on Friday, September 29th. Zacks Investment Research downgraded shares of Molson Coors Brewing from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 8th. BidaskClub raised shares of Molson Coors Brewing from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Finally, Cowen reaffirmed a “hold” rating and set a $96.00 price objective on shares of Molson Coors Brewing in a report on Thursday, September 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Molson Coors Brewing presently has a consensus rating of “Hold” and a consensus target price of $98.92.
Molson Coors Brewing Company (NYSE:TAP) traded up $1.30 during midday trading on Monday, hitting $80.51. The stock had a trading volume of 1,587,080 shares, compared to its average volume of 1,602,580. The company has a market cap of $18,570.00, a PE ratio of 18.77, a price-to-earnings-growth ratio of 2.32 and a beta of 0.82. Molson Coors Brewing Company has a 12 month low of $76.25 and a 12 month high of $102.14. The company has a quick ratio of 0.54, a current ratio of 0.69 and a debt-to-equity ratio of 0.83.
Molson Coors Brewing (NYSE:TAP) last released its earnings results on Wednesday, November 1st. The company reported $1.34 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.34. The company had revenue of $2.88 billion for the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 204.3% compared to the same quarter last year. During the same period in the previous year, the business posted $1.03 EPS. equities research analysts forecast that Molson Coors Brewing Company will post 4.34 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Stockholders of record on Thursday, November 30th will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Wednesday, November 29th. Molson Coors Brewing’s payout ratio is 15.80%.
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Molson Coors Brewing Profile
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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