Amica Mutual Insurance Co. decreased its position in Molson Coors Brewing Co (NYSE:TAP) by 30.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,782 shares of the company’s stock after selling 2,946 shares during the period. Amica Mutual Insurance Co.’s holdings in Molson Coors Brewing were worth $557,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. BlackRock Inc. boosted its stake in Molson Coors Brewing by 3.4% in the 4th quarter. BlackRock Inc. now owns 11,435,122 shares of the company’s stock worth $938,480,000 after purchasing an additional 380,133 shares in the last quarter. Wells Fargo & Company MN boosted its stake in Molson Coors Brewing by 12.9% in the 4th quarter. Wells Fargo & Company MN now owns 3,595,387 shares of the company’s stock worth $295,074,000 after purchasing an additional 410,058 shares in the last quarter. Epoch Investment Partners Inc. boosted its stake in Molson Coors Brewing by 852.1% in the 3rd quarter. Epoch Investment Partners Inc. now owns 2,428,882 shares of the company’s stock worth $198,294,000 after purchasing an additional 2,173,761 shares in the last quarter. TD Asset Management Inc. boosted its stake in Molson Coors Brewing by 1,749.8% in the 3rd quarter. TD Asset Management Inc. now owns 1,262,242 shares of the company’s stock worth $103,049,000 after purchasing an additional 1,194,006 shares in the last quarter. Finally, CI Investments Inc. boosted its stake in Molson Coors Brewing by 27.1% in the 3rd quarter. CI Investments Inc. now owns 1,084,165 shares of the company’s stock worth $88,511,000 after purchasing an additional 230,887 shares in the last quarter. Institutional investors own 77.05% of the company’s stock.
In other news, Chairman Peter H. Coors sold 55,603 shares of the company’s stock in a transaction dated Wednesday, January 17th. The shares were sold at an average price of $85.01, for a total transaction of $4,726,811.03. Following the completion of the sale, the chairman now owns 319,222 shares of the company’s stock, valued at approximately $27,137,062.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Tracey Joubert sold 1,000 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $79.15, for a total transaction of $79,150.00. Following the sale, the chief financial officer now directly owns 22,839 shares of the company’s stock, valued at approximately $1,807,706.85. The disclosure for this sale can be found here. Insiders have sold a total of 56,806 shares of company stock valued at $4,822,339 in the last ninety days. Insiders own 2.76% of the company’s stock.
A number of brokerages recently issued reports on TAP. Susquehanna Bancshares set a $107.00 price target on shares of Molson Coors Brewing and gave the stock a “buy” rating in a research note on Monday, February 12th. Zacks Investment Research cut shares of Molson Coors Brewing from a “buy” rating to a “hold” rating in a research note on Wednesday. BMO Capital Markets initiated coverage on Molson Coors Brewing in a research report on Monday, February 5th. They issued an “outperform” rating and a $95.00 target price for the company. Stifel Nicolaus reissued a “buy” rating and issued a $112.00 target price on shares of Molson Coors Brewing in a research report on Friday, February 2nd. Finally, Berenberg Bank raised Molson Coors Brewing from a “sell” rating to a “hold” rating and set a $78.00 target price for the company in a research report on Thursday, February 8th. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Molson Coors Brewing currently has a consensus rating of “Buy” and a consensus price target of $96.88.
Molson Coors Brewing Co (TAP) opened at $78.66 on Friday. Molson Coors Brewing Co has a 52-week low of $72.71 and a 52-week high of $101.18. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.64 and a quick ratio of 0.47. The firm has a market capitalization of $16,898.13, a PE ratio of 17.91, a price-to-earnings-growth ratio of 1.74 and a beta of 0.79.
Molson Coors Brewing (NYSE:TAP) last issued its earnings results on Wednesday, February 14th. The company reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.06. Molson Coors Brewing had a return on equity of 7.55% and a net margin of 10.34%. The business had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.60 billion. During the same quarter in the previous year, the firm earned $0.47 EPS. Molson Coors Brewing’s revenue was up 4.5% on a year-over-year basis. equities analysts forecast that Molson Coors Brewing Co will post 5.18 earnings per share for the current year.
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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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