Mutual of America Capital Management LLC Acquires 1,497 Shares of Molson Coors Brewing Company (TAP)

Mutual of America Capital Management LLC raised its holdings in Molson Coors Brewing Company (NYSE:TAP) by 6.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 23,666 shares of the company’s stock after acquiring an additional 1,497 shares during the period. Mutual of America Capital Management LLC’s holdings in Molson Coors Brewing were worth $1,932,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in TAP. Bessemer Group Inc. raised its holdings in Molson Coors Brewing by 12.8% in the 2nd quarter. Bessemer Group Inc. now owns 1,230 shares of the company’s stock valued at $106,000 after acquiring an additional 140 shares during the last quarter. Krilogy Financial LLC raised its holdings in Molson Coors Brewing by 4,646.4% in the 2nd quarter. Krilogy Financial LLC now owns 1,329 shares of the company’s stock valued at $115,000 after acquiring an additional 1,301 shares during the last quarter. Sun Life Financial INC raised its holdings in Molson Coors Brewing by 14,900.0% in the 2nd quarter. Sun Life Financial INC now owns 1,350 shares of the company’s stock valued at $117,000 after acquiring an additional 1,341 shares during the last quarter. Penserra Capital Management LLC raised its holdings in Molson Coors Brewing by 30.4% in the 2nd quarter. Penserra Capital Management LLC now owns 1,560 shares of the company’s stock valued at $134,000 after acquiring an additional 364 shares during the last quarter. Finally, Korea Investment CORP raised its holdings in Molson Coors Brewing by 142.0% in the 2nd quarter. Korea Investment CORP now owns 1,750 shares of the company’s stock valued at $151,000 after acquiring an additional 1,027 shares during the last quarter. Institutional investors own 79.01% of the company’s stock.

A number of analysts have commented on TAP shares. Susquehanna Bancshares Inc set a $118.00 price objective on shares of Molson Coors Brewing and gave the company a “buy” rating in a report on Tuesday, August 29th. Stifel Nicolaus reissued a “buy” rating and issued a $111.00 price target on shares of Molson Coors Brewing in a research note on Friday, July 14th. Credit Suisse Group set a $92.00 price target on shares of Molson Coors Brewing and gave the company a “hold” rating in a research note on Friday, September 29th. Cowen and Company reissued a “hold” rating and issued a $96.00 price target on shares of Molson Coors Brewing in a research note on Thursday, September 28th. Finally, BidaskClub raised shares of Molson Coors Brewing from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $98.80.

Shares of Molson Coors Brewing Company (NYSE:TAP) opened at 80.87 on Wednesday. Molson Coors Brewing Company has a 1-year low of $78.10 and a 1-year high of $106.35. The stock has a 50 day moving average of $83.28 and a 200 day moving average of $88.73. The stock has a market cap of $17.41 billion, a PE ratio of 8.08 and a beta of 0.88.

Molson Coors Brewing (NYSE:TAP) last released its earnings results on Wednesday, August 2nd. The company reported $1.66 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.38). Molson Coors Brewing had a net margin of 19.78% and a return on equity of 7.41%. The company had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter in the previous year, the firm posted $1.11 earnings per share. Molson Coors Brewing ‘s revenue for the quarter was down .6% compared to the same quarter last year. Equities research analysts forecast that Molson Coors Brewing Company will post $4.30 EPS for the current year.

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In related news, CEO Gavin Hattersley sold 17,215 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $91.90, for a total value of $1,582,058.50. Following the completion of the sale, the chief executive officer now directly owns 99,217 shares in the company, valued at $9,118,042.30. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.76% of the stock is currently owned by insiders.

Molson Coors Brewing Profile

Molson Coors Brewing Company (MCBC) is a holding company. The Company operates as a brewer. The Company’s segments include MillerCoors LLC (United States segment), operating in the United States; Molson Coors Canada (Canada segment), operating in Canada; Molson Coors Europe (Europe segment), operating in Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, Republic of Ireland, Romania, Serbia, the United Kingdom and various other European countries; Molson Coors International (Molson Coors International segment), operating in various other countries, and Corporate.

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

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