Parametric Portfolio Associates LLC increased its stake in Molson Coors Brewing Co (NYSE:TAP) by 23.8% during the third quarter, according to its most recent filing with the SEC. The fund owned 412,087 shares of the company’s stock after buying an additional 79,102 shares during the quarter. Parametric Portfolio Associates LLC owned 0.19% of Molson Coors Brewing worth $33,643,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Baker Ellis Asset Management LLC grew its holdings in shares of Molson Coors Brewing by 4.9% during the third quarter. Baker Ellis Asset Management LLC now owns 35,086 shares of the company’s stock worth $2,864,000 after purchasing an additional 1,650 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new position in shares of Molson Coors Brewing during the third quarter worth about $24,492,000. Strs Ohio grew its holdings in shares of Molson Coors Brewing by 6.4% during the third quarter. Strs Ohio now owns 605,977 shares of the company’s stock worth $49,471,000 after purchasing an additional 36,604 shares in the last quarter. Toronto Dominion Bank grew its holdings in shares of Molson Coors Brewing by 16.1% during the third quarter. Toronto Dominion Bank now owns 72,691 shares of the company’s stock worth $5,934,000 after purchasing an additional 10,087 shares in the last quarter. Finally, Wells Fargo & Company MN grew its holdings in shares of Molson Coors Brewing by 26.3% during the second quarter. Wells Fargo & Company MN now owns 2,581,382 shares of the company’s stock worth $222,877,000 after purchasing an additional 537,767 shares in the last quarter. 77.67% of the stock is currently owned by institutional investors.
Molson Coors Brewing Co (NYSE:TAP) opened at $81.10 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $17,359.08, a price-to-earnings ratio of 7.83, a price-to-earnings-growth ratio of 2.36 and a beta of 0.83. Molson Coors Brewing Co has a twelve month low of $76.25 and a twelve month high of $102.14.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Shareholders of record on Thursday, November 30th were issued a $0.41 dividend. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $1.64 dividend on an annualized basis and a yield of 2.02%. Molson Coors Brewing’s dividend payout ratio (DPR) is 15.83%.
In other news, CFO Tracey Joubert sold 1,000 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $79.15, for a total transaction of $79,150.00. Following the completion of the transaction, the chief financial officer now directly owns 22,839 shares in the company, valued at $1,807,706.85. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.76% of the stock is owned by company insiders.
TAP has been the subject of several research reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $116.00 target price on shares of Molson Coors Brewing in a research note on Friday. Credit Suisse Group set a $92.00 target price on Molson Coors Brewing and gave the stock a “hold” rating in a research note on Friday, September 29th. BidaskClub raised Molson Coors Brewing from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Cowen reissued a “hold” rating and set a $96.00 price objective on shares of Molson Coors Brewing in a research note on Thursday, September 28th. Finally, Deutsche Bank assumed coverage on Molson Coors Brewing in a research note on Wednesday, December 13th. They set a “buy” rating and a $89.00 price objective for the company. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $98.47.
Molson Coors Brewing Company 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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