Magnetar Financial LLC lowered its position in Molson Coors Brewing Company (NYSE:TAP) by 60.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,195 shares of the company’s stock after selling 23,096 shares during the period. Magnetar Financial LLC’s holdings in Molson Coors Brewing were worth $1,241,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the company. NGAM Advisors L.P. acquired a new stake in shares of Molson Coors Brewing in the second quarter valued at approximately $1,653,000. Janney Montgomery Scott LLC increased its holdings in shares of Molson Coors Brewing by 16.1% in the second quarter. Janney Montgomery Scott LLC now owns 2,525 shares of the company’s stock valued at $218,000 after purchasing an additional 350 shares in the last quarter. Rothschild Asset Management Inc. increased its holdings in shares of Molson Coors Brewing by 14.7% in the second quarter. Rothschild Asset Management Inc. now owns 4,190 shares of the company’s stock valued at $362,000 after purchasing an additional 536 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of Molson Coors Brewing by 12.8% in the second quarter. Bessemer Group Inc. now owns 1,230 shares of the company’s stock valued at $106,000 after purchasing an additional 140 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. increased its holdings in shares of Molson Coors Brewing by 11.4% in the second quarter. Candriam Luxembourg S.C.A. now owns 12,804 shares of the company’s stock valued at $1,106,000 after purchasing an additional 1,314 shares in the last quarter. Institutional investors own 78.00% of the company’s stock.
TAP has been the subject of a number of research reports. BidaskClub raised shares of Molson Coors Brewing from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Susquehanna Bancshares set a $118.00 price target on shares of Molson Coors Brewing and gave the company a “buy” rating in a report on Tuesday, August 29th. Berenberg Bank initiated coverage on shares of Molson Coors Brewing in a report on Wednesday, September 13th. They issued a “sell” rating and a $78.00 price target for the company. Cowen reissued a “hold” rating and issued a $96.00 price target on shares of Molson Coors Brewing in a report on Thursday, September 28th. Finally, Credit Suisse Group set a $92.00 target price on shares of Molson Coors Brewing and gave the stock a “hold” rating in a report on Friday, September 29th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Molson Coors Brewing presently has an average rating of “Hold” and a consensus price target of $98.92.
In other Molson Coors Brewing news, CFO Tracey Joubert sold 1,000 shares of Molson Coors Brewing stock in a transaction on Friday, December 1st. The shares were sold at an average price of $79.15, for a total transaction of $79,150.00. Following the completion of the sale, the chief financial officer now owns 22,839 shares of the company’s stock, valued at approximately $1,807,706.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.76% of the stock is currently owned by insiders.
Molson Coors Brewing Company (NYSE TAP) traded up $0.21 on Friday, reaching $80.14. 980,217 shares of the company’s stock were exchanged, compared to its average volume of 1,163,106. 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 Company has a 12-month low of $76.25 and a 12-month high of $102.14. The firm has a market cap of $17,262.16, a price-to-earnings ratio of 18.99, a PEG ratio of 2.35 and a beta 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 analysts’ consensus estimates of $1.34. Molson Coors Brewing had a net margin of 17.04% and a return on equity of 7.54%. The firm had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.97 billion. During the same quarter in the previous year, the business earned $1.03 EPS. The business’s quarterly revenue was up 204.3% compared to the same quarter last year. equities 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. Shareholders of record on Thursday, November 30th will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Wednesday, November 29th. Molson Coors Brewing’s dividend payout ratio is presently 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.
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