Meeder Asset Management Inc. Boosts Stock Holdings in Molson Coors Brewing Co (NYSE:TAP)

Meeder Asset Management Inc. raised its holdings in shares of Molson Coors Brewing Co (NYSE:TAP) by 34.3% during the second quarter, HoldingsChannel reports. The fund owned 48,355 shares of the company’s stock after purchasing an additional 12,350 shares during the quarter. Meeder Asset Management Inc.’s holdings in Molson Coors Brewing were worth $2,709,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC grew its stake in shares of Molson Coors Brewing by 8.3% in the fourth quarter. Geode Capital Management LLC now owns 2,550,361 shares of the company’s stock worth $142,989,000 after acquiring an additional 194,378 shares during the last quarter. Retirement Systems of Alabama grew its stake in shares of Molson Coors Brewing by 1.2% in the first quarter. Retirement Systems of Alabama now owns 87,383 shares of the company’s stock worth $5,212,000 after acquiring an additional 1,067 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of Molson Coors Brewing by 18.1% in the first quarter. Nisa Investment Advisors LLC now owns 44,428 shares of the company’s stock worth $2,650,000 after acquiring an additional 6,800 shares during the last quarter. IFM Investors Pty Ltd grew its stake in shares of Molson Coors Brewing by 21.3% in the first quarter. IFM Investors Pty Ltd now owns 13,263 shares of the company’s stock worth $791,000 after acquiring an additional 2,332 shares during the last quarter. Finally, Gulf International Bank UK Ltd grew its stake in shares of Molson Coors Brewing by 40.1% in the first quarter. Gulf International Bank UK Ltd now owns 3,757 shares of the company’s stock worth $224,000 after acquiring an additional 1,076 shares during the last quarter. 74.99% of the stock is currently owned by institutional investors and hedge funds.

Several brokerages have recently issued reports on TAP. Credit Suisse Group began coverage on shares of Molson Coors Brewing in a research note on Monday, June 10th. They issued an “underperform” rating and a $50.00 price objective on the stock. BMO Capital Markets lifted their price target on shares of Molson Coors Brewing to $65.00 in a research note on Thursday, August 1st. Guggenheim decreased their price target on shares of Molson Coors Brewing from $63.00 to $52.00 and set a “neutral” rating on the stock in a research note on Thursday, August 1st. Zacks Investment Research upgraded shares of Molson Coors Brewing from a “sell” rating to a “hold” rating in a research note on Thursday, May 2nd. Finally, Bryan, Garnier & Co reiterated a “sell” rating and set a $51.00 price target on shares of Molson Coors Brewing in a research note on Thursday, August 1st. Five equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $62.91.

TAP traded up $0.14 during trading on Tuesday, reaching $52.64. 7,455 shares of the company’s stock were exchanged, compared to its average volume of 2,121,761. Molson Coors Brewing Co has a fifty-two week low of $49.92 and a fifty-two week high of $69.13. The company has a quick ratio of 0.47, a current ratio of 0.64 and a debt-to-equity ratio of 0.60. The business has a 50 day moving average price of $54.18 and a 200 day moving average price of $58.29. The company has a market capitalization of $11.22 billion, a P/E ratio of 10.43, a PEG ratio of 2.66 and a beta of 0.79.

Molson Coors Brewing (NYSE:TAP) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.65 by ($0.13). Molson Coors Brewing had a return on equity of 7.33% and a net margin of 6.85%. The business had revenue of $2.95 billion for the quarter, compared to analyst estimates of $3.03 billion. During the same quarter in the prior year, the firm earned $1.88 EPS. The firm’s quarterly revenue was down 4.4% on a year-over-year basis. As a group, research analysts forecast that Molson Coors Brewing Co will post 4.36 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.57 per share. The ex-dividend date is Thursday, August 29th. This is a boost from Molson Coors Brewing’s previous quarterly dividend of $0.41. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.33%. Molson Coors Brewing’s dividend payout ratio (DPR) is presently 32.54%.

Molson Coors Brewing Company Profile

Molson Coors Brewing Company manufactures, markets, and sells beer and other malt beverage products in the United States, Canada, Europe, and internationally. The company sells various products under the Blue Moon, Coors Banquet, Coors Light, Miller Genuine Draft, Miller Lite, Hamm's, Icehouse, Keystone, Mickey's, Miller64, Miller High Life, Milwaukee's Best, Olde English, Steel Reserve, Grolsch, Hop Valley, Leinenkugel's, Peroni Nastro Azurro, Pilsner Urquell, Revolver, Saint Archer, Sol, Terrapin, Crispin, Smith & Forge, Arnold Palmer Spiked, Henry's Hard, Redd's, and Steel Reserve Alloy Series brands.

Further Reading: How to calculate the intrinsic value of a stock

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Institutional Ownership by Quarter for Molson Coors Brewing (NYSE:TAP)

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