Legal & General Group Plc Grows Position in Molson Coors Brewing Company (TAP)

Legal & General Group Plc boosted its stake in shares of Molson Coors Brewing Company (NYSE:TAP) by 6.0% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 764,262 shares of the company’s stock after purchasing an additional 43,484 shares during the period. Legal & General Group Plc owned about 0.35% of Molson Coors Brewing worth $62,395,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Bessemer Group Inc. raised its stake in Molson Coors Brewing by 12.8% during the 2nd quarter. Bessemer Group Inc. now owns 1,230 shares of the company’s stock valued at $106,000 after purchasing an additional 140 shares during the last quarter. Dupont Capital Management Corp bought a new stake in shares of Molson Coors Brewing in the 3rd quarter worth about $103,000. Krilogy Financial LLC grew its holdings in Molson Coors Brewing by 4,646.4% during the 2nd quarter. Krilogy Financial LLC now owns 1,329 shares of the company’s stock worth $115,000 after acquiring an additional 1,301 shares during the last quarter. Sun Life Financial INC grew its holdings in Molson Coors Brewing by 14,900.0% during the 2nd quarter. Sun Life Financial INC now owns 1,350 shares of the company’s stock worth $117,000 after acquiring an additional 1,341 shares during the last quarter. Finally, Penserra Capital Management LLC grew its holdings in Molson Coors Brewing by 30.4% during the 2nd quarter. Penserra Capital Management LLC now owns 1,560 shares of the company’s stock worth $134,000 after acquiring an additional 364 shares during the last quarter. 78.00% of the stock is currently owned by hedge funds and other institutional investors.

Several research analysts have recently issued reports on the stock. Citigroup reduced their target price on shares of Molson Coors Brewing from $106.00 to $102.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. Berenberg Bank reaffirmed a “sell” rating and set a $76.00 price target on shares of Molson Coors Brewing in a research note on Friday, November 3rd. Susquehanna Bancshares set a $108.00 price target on shares of Molson Coors Brewing and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Zacks Investment Research raised shares of Molson Coors Brewing from a “sell” rating to a “hold” rating in a research note on Tuesday, October 17th. Finally, Credit Suisse Group set a $92.00 price target on shares of Molson Coors Brewing and gave the stock a “hold” rating in a research note on Friday, September 29th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $98.92.

Molson Coors Brewing Company (TAP) traded up $1.30 on Tuesday, hitting $80.51. The stock had a trading volume of 1,587,000 shares, compared to its average volume of 1,602,580. 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. The firm has a market capitalization of $17,061.83, a P/E ratio of 18.77, a P/E/G ratio of 2.32 and a beta of 0.83.

Molson Coors Brewing (NYSE:TAP) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $1.34 EPS 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%. Molson Coors Brewing’s revenue for the quarter was up 204.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 earnings per share. sell-side analysts expect that Molson Coors Brewing Company will post 4.34 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Wednesday, November 29th. Molson Coors Brewing’s payout ratio is 15.83%.

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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.

Institutional Ownership by Quarter for Molson Coors Brewing (NYSE:TAP)

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