Centre Asset Management LLC lessened its stake in shares of Molson Coors Brewing Co (NYSE:TAP) by 5.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 150,960 shares of the company’s stock after selling 8,930 shares during the quarter. Molson Coors Brewing comprises approximately 1.9% of Centre Asset Management LLC’s holdings, making the stock its 22nd largest position. Centre Asset Management LLC owned about 0.07% of Molson Coors Brewing worth $8,137,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in TAP. 6 Meridian lifted its position in shares of Molson Coors Brewing by 3.3% during the 4th quarter. 6 Meridian now owns 10,678 shares of the company’s stock worth $576,000 after purchasing an additional 338 shares during the last quarter. Trinity Legacy Partners LLC acquired a new position in shares of Molson Coors Brewing during the 4th quarter worth about $550,000. Manning & Napier Group LLC lifted its position in shares of Molson Coors Brewing by 3.5% during the 4th quarter. Manning & Napier Group LLC now owns 67,916 shares of the company’s stock worth $3,660,000 after purchasing an additional 2,321 shares during the last quarter. Diversified Trust Co lifted its position in shares of Molson Coors Brewing by 14.7% during the 4th quarter. Diversified Trust Co now owns 5,070 shares of the company’s stock worth $273,000 after purchasing an additional 650 shares during the last quarter. Finally, Greylin Investment Mangement Inc. lifted its position in shares of Molson Coors Brewing by 10.8% during the 4th quarter. Greylin Investment Mangement Inc. now owns 17,125 shares of the company’s stock worth $923,000 after purchasing an additional 1,670 shares during the last quarter. Institutional investors own 77.77% of the company’s stock.
Molson Coors Brewing stock traded up $0.56 during trading hours on Tuesday, hitting $55.95. The stock had a trading volume of 2,193,609 shares, compared to its average volume of 1,877,526. The company has a 50-day moving average of $52.63 and a two-hundred day moving average of $54.02. The company has a quick ratio of 0.42, a current ratio of 0.59 and a debt-to-equity ratio of 0.60. The company has a market cap of $11.98 billion, a PE ratio of 11.10, a price-to-earnings-growth ratio of 2.31 and a beta of 0.75. Molson Coors Brewing Co has a fifty-two week low of $49.82 and a fifty-two week high of $67.24.
Molson Coors Brewing (NYSE:TAP) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.48 EPS for the quarter, beating the consensus estimate of $1.46 by $0.02. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.87 billion. Molson Coors Brewing had a return on equity of 6.86% and a net margin of 1.19%. The company’s revenue for the quarter was down 3.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.84 EPS. As a group, analysts forecast that Molson Coors Brewing Co will post 4.3 EPS for the current fiscal year.
TAP has been the subject of several research analyst reports. Zacks Investment Research raised Molson Coors Brewing from a “sell” rating to a “hold” rating and set a $55.00 price objective for the company in a research report on Monday, November 4th. Berenberg Bank reissued a “hold” rating and set a $51.00 price objective on shares of Molson Coors Brewing in a research report on Friday, November 1st. ValuEngine raised Molson Coors Brewing from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd. Barclays cut Molson Coors Brewing from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $59.00 to $54.00 in a research report on Monday, November 25th. Finally, MKM Partners set a $63.00 price target on Molson Coors Brewing and gave the company a “buy” rating in a report on Friday, November 1st. Five research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $54.64.
Molson Coors Brewing 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.
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