Coastline Trust Co increased its holdings in Molson Coors Brewing Company (NYSE:TAP) by 141.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,580 shares of the company’s stock after acquiring an additional 3,860 shares during the period. Coastline Trust Co’s holdings in Molson Coors Brewing were worth $537,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Bessemer Group Inc. lifted its stake in Molson Coors Brewing by 12.8% in the 2nd quarter. Bessemer Group Inc. now owns 1,230 shares of the company’s stock worth $106,000 after acquiring an additional 140 shares in the last quarter. Dupont Capital Management Corp purchased a new stake in Molson Coors Brewing in the 3rd quarter worth about $103,000. Krilogy Financial LLC increased its position in Molson Coors Brewing by 4,646.4% in the 2nd quarter. Krilogy Financial LLC now owns 1,329 shares of the company’s stock worth $115,000 after purchasing an additional 1,301 shares during the last quarter. Sun Life Financial INC increased its position in Molson Coors Brewing by 14,900.0% in the 2nd quarter. Sun Life Financial INC now owns 1,350 shares of the company’s stock worth $117,000 after purchasing an additional 1,341 shares during the last quarter. Finally, Penserra Capital Management LLC increased its position in Molson Coors Brewing by 30.4% in the 2nd quarter. Penserra Capital Management LLC now owns 1,560 shares of the company’s stock worth $134,000 after purchasing an additional 364 shares during the last quarter. 78.00% of the stock is owned by hedge funds and other institutional investors.
Shares of Molson Coors Brewing Company (NYSE:TAP) traded down $0.13 during midday trading on Friday, hitting $79.37. The stock had a trading volume of 1,062,600 shares, compared to its average volume of 1,583,873. 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 $17,124.30, a price-to-earnings ratio of 18.84, a price-to-earnings-growth ratio of 2.33 and a beta of 0.83. Molson Coors Brewing Company has a fifty-two week low of $76.25 and a fifty-two week high of $102.14.
Molson Coors Brewing (NYSE:TAP) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $2.97 billion. Molson Coors Brewing had a return on equity of 7.54% and a net margin of 17.04%. The firm’s revenue for the quarter was up 204.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.03 EPS. analysts predict 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. Stockholders 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 dividend yield of 2.07%. The ex-dividend date is Wednesday, November 29th. Molson Coors Brewing’s dividend payout ratio is 15.83%.
TAP has been the topic of several research reports. Citigroup dropped their target price on Molson Coors Brewing from $106.00 to $102.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. Susquehanna Bancshares reaffirmed a “buy” rating on shares of Molson Coors Brewing in a research report on Wednesday, October 11th. Berenberg Bank initiated coverage on Molson Coors Brewing in a research report on Wednesday, September 13th. They issued a “sell” rating and a $78.00 target price on the stock. Zacks Investment Research lowered Molson Coors Brewing from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Finally, BidaskClub raised Molson Coors Brewing from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $98.02.
In other news, CFO Tracey Joubert sold 1,000 shares of the stock in a transaction dated Friday, December 1st. The stock was sold at an average price of $79.15, for a total transaction of $79,150.00. Following the transaction, the chief financial officer now owns 22,839 shares of the company’s stock, valued at approximately $1,807,706.85. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 2.76% of the company’s stock.
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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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