Macquarie Group Ltd. trimmed its stake in shares of Molson Coors Brewing Company (NYSE:TAP) by 47.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,369 shares of the company’s stock after selling 28,196 shares during the quarter. Macquarie Group Ltd.’s holdings in Molson Coors Brewing were worth $2,561,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in TAP. FMR LLC lifted its holdings in shares of Molson Coors Brewing by 3.2% during the second quarter. FMR LLC now owns 18,229,807 shares of the company’s stock worth $1,573,961,000 after buying an additional 562,180 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Molson Coors Brewing by 2.5% during the second quarter. Vanguard Group Inc. now owns 17,735,626 shares of the company’s stock worth $1,531,294,000 after buying an additional 429,859 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Molson Coors Brewing by 33.2% during the second quarter. JPMorgan Chase & Co. now owns 16,058,334 shares of the company’s stock worth $1,386,476,000 after buying an additional 4,001,480 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Molson Coors Brewing by 1.9% during the second quarter. BlackRock Inc. now owns 10,875,972 shares of the company’s stock worth $939,033,000 after buying an additional 199,962 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its holdings in shares of Molson Coors Brewing by 33.0% during the second quarter. Lazard Asset Management LLC now owns 10,538,919 shares of the company’s stock worth $909,928,000 after buying an additional 2,616,561 shares in the last quarter. 78.00% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently weighed in on the company. UBS reissued a “neutral” rating and set a $98.00 target price (up previously from $96.00) on shares of Molson Coors Brewing in a report on Wednesday, August 9th. Credit Suisse Group set a $92.00 target price on Molson Coors Brewing and gave the stock a “hold” rating in a report on Friday, September 29th. Zacks Investment Research downgraded Molson Coors Brewing from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 8th. BidaskClub raised Molson Coors Brewing from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Finally, Cowen reissued a “hold” rating and set a $96.00 target price on shares of Molson Coors Brewing in a report on Thursday, September 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Molson Coors Brewing presently has a consensus rating of “Hold” and an average target price of $98.92.
Molson Coors Brewing (NYSE:TAP) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $1.34 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.34. The business had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.97 billion. Molson Coors Brewing had a return on equity of 7.54% and a net margin of 17.04%. Molson Coors Brewing’s revenue for the quarter was up 204.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.03 earnings per share. analysts anticipate that Molson Coors Brewing Company will post 4.34 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Wednesday, November 29th. Molson Coors Brewing’s dividend payout ratio (DPR) is presently 15.83%.
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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.
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