National Investment Services Inc. WI acquired a new stake in shares of Molson Coors Brewing Co (NYSE:TAP) in the fourth quarter, HoldingsChannel.com reports. The firm acquired 14,741 shares of the company’s stock, valued at approximately $1,210,000.
Other large investors have also recently added to or reduced their stakes in the company. Baker Ellis Asset Management LLC increased its stake in Molson Coors Brewing by 4.9% during the 3rd quarter. Baker Ellis Asset Management LLC now owns 35,086 shares of the company’s stock valued at $2,864,000 after purchasing an additional 1,650 shares in the last quarter. State of New Jersey Common Pension Fund D bought a new stake in Molson Coors Brewing during the 3rd quarter valued at about $24,492,000. Strs Ohio increased its stake in Molson Coors Brewing by 6.4% during the 3rd quarter. Strs Ohio now owns 605,977 shares of the company’s stock valued at $49,471,000 after purchasing an additional 36,604 shares in the last quarter. Toronto Dominion Bank increased its stake in Molson Coors Brewing by 16.1% during the 3rd quarter. Toronto Dominion Bank now owns 72,691 shares of the company’s stock valued at $5,934,000 after purchasing an additional 10,087 shares in the last quarter. Finally, Commonwealth Equity Services Inc increased its stake in Molson Coors Brewing by 14.3% during the 3rd quarter. Commonwealth Equity Services Inc now owns 11,632 shares of the company’s stock valued at $949,000 after purchasing an additional 1,457 shares in the last quarter. Institutional investors and hedge funds own 77.67% of the company’s stock.
Shares of Molson Coors Brewing Co (TAP) traded up $1.58 during midday trading on Thursday, hitting $85.21. 1,794,800 shares of the stock were exchanged, compared to its average volume of 1,352,629. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.54 and a current ratio of 0.69. The stock has a market cap of $19,530.00, a P/E ratio of 8.21, a PEG ratio of 2.13 and a beta of 0.83. Molson Coors Brewing Co has a 12-month low of $76.25 and a 12-month high of $102.14.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 15th. Investors of record on Thursday, November 30th were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date was Wednesday, November 29th. Molson Coors Brewing’s payout ratio is 15.80%.
TAP has been the topic of a number of recent analyst reports. Zacks Investment Research downgraded shares of Molson Coors Brewing from a “strong-buy” rating to a “hold” rating in a report on Wednesday. Deutsche Bank initiated coverage on shares of Molson Coors Brewing in a report on Wednesday, December 13th. They set a “buy” rating and a $89.00 price target on the stock. Cowen reaffirmed a “hold” rating and set a $96.00 price target on shares of Molson Coors Brewing in a report on Thursday, September 28th. Susquehanna Bancshares reaffirmed a “buy” rating on shares of Molson Coors Brewing in a report on Wednesday, October 11th. Finally, Berenberg Bank reaffirmed a “sell” rating and set a $76.00 price target on shares of Molson Coors Brewing in a report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $96.94.
In related news, CFO Tracey Joubert sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $79.15, for a total value of $79,150.00. Following the transaction, the chief financial officer now owns 22,839 shares of the company’s stock, valued at $1,807,706.85. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 2.76% of the company’s stock.
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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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