American International Group Inc. cut its stake in shares of Molson Coors Brewing Company (NYSE:TAP) by 0.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 64,923 shares of the company’s stock after selling 496 shares during the period. American International Group Inc.’s holdings in Molson Coors Brewing Company were worth $7,129,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of TAP. MU Investments Co. Ltd. purchased a new stake in Molson Coors Brewing Company during the third quarter valued at approximately $114,000. MSI Financial Services Inc increased its stake in Molson Coors Brewing Company by 1.3% in the third quarter. MSI Financial Services Inc now owns 1,458 shares of the company’s stock valued at $160,000 after buying an additional 19 shares in the last quarter. Penserra Capital Management LLC increased its stake in Molson Coors Brewing Company by 100.0% in the third quarter. Penserra Capital Management LLC now owns 1,692 shares of the company’s stock valued at $185,000 after buying an additional 846 shares in the last quarter. Alpha Cubed Investments LLC purchased a new stake in Molson Coors Brewing Company during the second quarter valued at approximately $202,000. Finally, Parametrica Management Ltd purchased a new stake in Molson Coors Brewing Company during the second quarter valued at approximately $203,000. 77.09% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Molson Coors Brewing Company (NYSE:TAP) traded down 0.31% on Wednesday, reaching $96.11. The company’s stock had a trading volume of 432,815 shares. Molson Coors Brewing Company has a 52-week low of $80.78 and a 52-week high of $112.19. The company has a market cap of $20.65 billion, a price-to-earnings ratio of 34.70 and a beta of 0.92. The stock has a 50-day moving average of $97.94 and a 200 day moving average of $101.58.
Molson Coors Brewing Company (NYSE:TAP) last released its quarterly earnings data on Tuesday, November 1st. The company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.05 by $0.02. Molson Coors Brewing Company had a return on equity of 7.21% and a net margin of 11.48%. The business earned $947.60 million during the quarter, compared to analysts’ expectations of $985.75 million. During the same quarter last year, the business posted $1.40 EPS. The company’s quarterly revenue was down 6.9% compared to the same quarter last year. On average, equities research analysts forecast that Molson Coors Brewing Company will post $5.86 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th were issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend was Monday, November 28th. Molson Coors Brewing Company’s dividend payout ratio (DPR) is currently 60.74%.
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Several research firms have recently commented on TAP. Susquehanna set a $152.00 price objective on Molson Coors Brewing Company and gave the company a “buy” rating in a report on Sunday, December 4th. Zacks Investment Research downgraded Molson Coors Brewing Company from a “hold” rating to a “sell” rating in a report on Tuesday, January 3rd. Bank of America Corporation began coverage on Molson Coors Brewing Company in a report on Monday, October 10th. They set a “buy” rating and a $140.00 price target for the company. Stifel Nicolaus decreased their price target on Molson Coors Brewing Company from $117.00 to $113.00 and set a “buy” rating for the company in a report on Tuesday, December 20th. Finally, Citigroup Inc. upped their price target on Molson Coors Brewing Company from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, September 19th. One analyst has rated the stock with a sell rating, one has given a hold rating and seven have given a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $125.00.
In other news, Chairman Geoffrey E. Molson bought 1,000 shares of the stock in a transaction dated Wednesday, December 7th. The stock was bought at an average price of $127.75 per share, for a total transaction of $127,750.00. Following the purchase, the chairman now directly owns 1,000 shares in the company, valued at approximately $127,750. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Mark Hunter sold 5,851 shares of the firm’s stock in a transaction that occurred on Tuesday, November 22nd. The shares were sold at an average price of $100.00, for a total value of $585,100.00. Following the completion of the transaction, the chief executive officer now owns 80,785 shares of the company’s stock, valued at approximately $8,078,500. The disclosure for this sale can be found here. 2.53% of the stock is owned by company insiders.
Molson Coors Brewing Company Company Profile
Molson Coors Brewing Company (MCBC) is a holding company that operates as a brewer. The Company has a portfolio of brands, including Carling, Coors Light, Molson Canadian and Staropramen, as well as craft and specialty beers, such as Blue Moon, Creemore Springs, Cobra and Doom Bar. The Company operates through four segments: Molson Coors Canada (MCC or Canada segment); MillerCoors LLC (MillerCoors or U.S.
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