Mitsubishi UFJ Trust & Banking Corp decreased its position in Molson Coors Brewing Co (NYSE:TAP) by 62.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 144,561 shares of the company’s stock after selling 238,849 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.07% of Molson Coors Brewing worth $8,891,000 as of its most recent SEC filing.
Several other institutional investors have also recently bought and sold shares of the company. Truvestments Capital LLC acquired a new stake in Molson Coors Brewing during the 3rd quarter worth approximately $105,000. Strategic Wealth Partners Ltd. acquired a new stake in shares of Molson Coors Brewing in the 2nd quarter valued at $214,000. National Asset Management Inc. acquired a new stake in shares of Molson Coors Brewing in the 3rd quarter valued at $206,000. Global Endowment Management LP acquired a new stake in shares of Molson Coors Brewing in the 3rd quarter valued at $209,000. Finally, Barings LLC acquired a new stake in shares of Molson Coors Brewing in the 2nd quarter valued at $245,000. 76.13% of the stock is owned by institutional investors and hedge funds.
In related news, insider Krishnan Anand sold 2,595 shares of the stock in a transaction on Thursday, November 1st. The shares were sold at an average price of $64.81, for a total value of $168,181.95. Following the transaction, the insider now directly owns 49,946 shares of the company’s stock, valued at approximately $3,237,000.26. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders sold a total of 7,785 shares of company stock worth $495,593 over the last ninety days. Insiders own 2.55% of the company’s stock.
NYSE TAP opened at $64.46 on Friday. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $14.00 billion, a P/E ratio of 14.42, a P/E/G ratio of 2.88 and a beta of 0.58. Molson Coors Brewing Co has a 12 month low of $55.52 and a 12 month high of $85.86.
Molson Coors Brewing (NYSE:TAP) last posted its earnings results on Wednesday, October 31st. The company reported $1.84 EPS for the quarter, beating the Zacks’ consensus estimate of $1.59 by $0.25. The firm had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.92 billion. Molson Coors Brewing had a net margin of 12.05% and a return on equity of 7.58%. The company’s revenue was up 1.8% on a year-over-year basis. During the same period last year, the firm posted $1.34 EPS. On average, research analysts forecast that Molson Coors Brewing Co will post 4.97 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Friday, November 30th will be given a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.54%. The ex-dividend date of this dividend is Thursday, November 29th. Molson Coors Brewing’s dividend payout ratio (DPR) is 36.69%.
A number of brokerages have recently weighed in on TAP. Zacks Investment Research restated a “hold” rating on shares of Molson Coors Brewing in a report on Friday, November 16th. Citigroup reduced their price objective on shares of Molson Coors Brewing from $78.00 to $72.00 and set a “buy” rating on the stock in a report on Thursday, November 1st. ValuEngine upgraded shares of Molson Coors Brewing from a “strong sell” rating to a “sell” rating in a report on Thursday, November 1st. Standpoint Research began coverage on shares of Molson Coors Brewing in a report on Tuesday, October 23rd. They issued a “buy” rating and a $72.00 price objective on the stock. Finally, Guggenheim began coverage on shares of Molson Coors Brewing in a report on Thursday, September 13th. They issued a “neutral” rating and a $66.00 price objective on the stock. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $75.36.
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About Molson Coors Brewing
Molson Coors Brewing Company manufactures and sells beer and other beverage products in the United States, Canada, Europe, and internationally. It sells various products under the Coors Light, Miller Lite, Coors Banquet, the Blue Moon Brewing Company brands, the Jacob Leinenkugel Brewing Company brands, Keystone, Icehouse, Mickey's, Miller 64, Miller Genuine Draft, Miller High Life, Milwaukee's Best, Hamm's, Olde English 800, Steel Reserve, Crispin, Smith & Forge, Redd's, the Henry's Hard Soda, and Steel Reserve Alloy Series brands.
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