Molson Coors Brewing Company (TAP) Shares Sold by CIBC Asset Management Inc

CIBC Asset Management Inc reduced its holdings in Molson Coors Brewing Company (NYSE:TAP) by 10.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 29,682 shares of the company’s stock after selling 3,376 shares during the quarter. CIBC Asset Management Inc’s holdings in Molson Coors Brewing were worth $2,423,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Bessemer Group Inc. increased its holdings in Molson Coors Brewing by 12.8% in the second quarter. Bessemer Group Inc. now owns 1,230 shares of the company’s stock worth $106,000 after purchasing an additional 140 shares in the last quarter. Dupont Capital Management Corp acquired a new stake in Molson Coors Brewing in the third quarter valued at approximately $103,000. Krilogy Financial LLC grew its stake in Molson Coors Brewing by 4,646.4% in the second 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 period. Sun Life Financial INC grew its stake in Molson Coors Brewing by 14,900.0% in the second 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 period. Finally, Penserra Capital Management LLC grew its stake in Molson Coors Brewing by 30.4% in the second 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 period. Institutional investors and hedge funds own 78.72% of the company’s stock.

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Molson Coors Brewing Company (NYSE:TAP) opened at $79.68 on Friday. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.54. Molson Coors Brewing Company has a 1 year low of $78.10 and a 1 year high of $102.14. The firm has a market capitalization of $18,430.00, a price-to-earnings ratio of 19.08, a price-to-earnings-growth ratio of 2.36 and a beta of 0.86.

Molson Coors Brewing (NYSE:TAP) last posted its quarterly earnings data on Wednesday, November 1st. The company reported $1.34 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.34. Molson Coors Brewing had a return on equity of 9.14% and a net margin of 9.93%. The business had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.97 billion. During the same quarter in the previous year, the firm earned $1.03 earnings per share. The business’s revenue was up 204.3% on a year-over-year basis. equities analysts expect that Molson Coors Brewing Company will post 4.34 EPS for the current year.

A number of equities research analysts have commented on the company. Susquehanna Bancshares Inc set a $118.00 price objective on Molson Coors Brewing and gave the company a “buy” rating in a research note on Tuesday, August 29th. Credit Suisse Group set a $96.00 price objective on Molson Coors Brewing and gave the company a “hold” rating in a research note on Thursday, August 3rd. Citigroup Inc. reduced their price objective on Molson Coors Brewing from $106.00 to $102.00 and set a “buy” rating for the company in a research note on Friday, November 3rd. Zacks Investment Research cut Molson Coors Brewing from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. Finally, Berenberg Bank assumed coverage on Molson Coors Brewing in a research report on Wednesday, September 13th. They set a “sell” rating and a $78.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average price target of $98.92.

About Molson Coors Brewing

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.

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

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