State Board of Administration of Florida Retirement System boosted its holdings in shares of Molson Coors Brewing Co (NYSE:TAP) by 2.3% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 231,215 shares of the company’s stock after buying an additional 5,147 shares during the quarter. State Board of Administration of Florida Retirement System’s holdings in Molson Coors Brewing were worth $12,985,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of TAP. Quadrant Capital Group LLC raised its position in Molson Coors Brewing by 18.3% during the 4th quarter. Quadrant Capital Group LLC now owns 1,255 shares of the company’s stock worth $66,000 after buying an additional 194 shares during the last quarter. Truvestments Capital LLC purchased a new position in shares of Molson Coors Brewing during the 3rd quarter valued at approximately $105,000. TLP Group LLC purchased a new position in shares of Molson Coors Brewing during the 3rd quarter valued at approximately $124,000. Ipswich Investment Management Co. Inc. purchased a new position in shares of Molson Coors Brewing during the 4th quarter valued at approximately $150,000. Finally, National Asset Management Inc. purchased a new position in shares of Molson Coors Brewing during the 3rd quarter valued at approximately $206,000. 80.41% of the stock is owned by institutional investors.
Several equities analysts have recently weighed in on the stock. Citigroup cut their target price on shares of Molson Coors Brewing from $78.00 to $72.00 and set a “buy” rating for the company in a report on Thursday, November 1st. Zacks Investment Research reaffirmed a “hold” rating on shares of Molson Coors Brewing in a report on Friday, November 16th. ValuEngine raised shares of Molson Coors Brewing from a “strong sell” rating to a “sell” rating in a report on Thursday, November 1st. UBS Group assumed coverage on shares of Molson Coors Brewing in a report on Thursday, December 13th. They set a “buy” rating and a $80.00 target price for the company. Finally, Standpoint Research assumed coverage on shares of Molson Coors Brewing in a report on Tuesday, October 23rd. They set a “buy” rating and a $72.00 target price for the company. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $75.27.
NYSE TAP traded down $0.08 on Monday, hitting $64.86. The company had a trading volume of 15,579 shares, compared to its average volume of 1,369,875. The firm has a market cap of $14.01 billion, a PE ratio of 14.54, a PEG ratio of 2.93 and a beta of 0.84. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.49 and a current ratio of 0.64. Molson Coors Brewing Co has a 12-month low of $54.17 and a 12-month high of $82.29.
In related news, insider Krishnan Anand sold 2,595 shares of the business’s stock in a transaction on Monday, December 3rd. The shares were sold at an average price of $64.75, for a total value of $168,026.25. Following the completion of the sale, the insider now owns 49,946 shares of the company’s stock, valued at approximately $3,234,003.50. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 2.55% of the stock is currently owned by insiders.
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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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