Sumitomo Mitsui Asset Management Company LTD Decreases Holdings in Molson Coors Brewing Co (TAP)

Sumitomo Mitsui Asset Management Company LTD trimmed its position in shares of Molson Coors Brewing Co (NYSE:TAP) by 7.6% during the fourth quarter, HoldingsChannel reports. The firm owned 13,645 shares of the company’s stock after selling 1,120 shares during the quarter. Sumitomo Mitsui Asset Management Company LTD’s holdings in Molson Coors Brewing were worth $1,119,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in TAP. Epoch Investment Partners Inc. lifted its stake in Molson Coors Brewing by 852.1% during the third quarter. Epoch Investment Partners Inc. now owns 2,428,882 shares of the company’s stock worth $198,294,000 after purchasing an additional 2,173,761 shares in the last quarter. TD Asset Management Inc. lifted its stake in Molson Coors Brewing by 1,749.8% during the third quarter. TD Asset Management Inc. now owns 1,262,242 shares of the company’s stock worth $103,049,000 after purchasing an additional 1,194,006 shares in the last quarter. Independent Franchise Partners LLP raised its stake in shares of Molson Coors Brewing by 19.8% in the third quarter. Independent Franchise Partners LLP now owns 6,161,014 shares of the company’s stock valued at $502,985,000 after acquiring an additional 1,017,035 shares in the last quarter. Wells Fargo & Company MN raised its stake in shares of Molson Coors Brewing by 23.4% in the third quarter. Wells Fargo & Company MN now owns 3,185,329 shares of the company’s stock valued at $260,048,000 after acquiring an additional 603,947 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. raised its stake in shares of Molson Coors Brewing by 17.6% in the third quarter. Diamond Hill Capital Management Inc. now owns 3,090,431 shares of the company’s stock valued at $252,303,000 after acquiring an additional 462,823 shares in the last quarter. Institutional investors own 77.79% of the company’s stock.

In other Molson Coors Brewing 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 value of $79,150.00. Following the sale, the chief financial officer now directly owns 22,839 shares in the company, valued at $1,807,706.85. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Peter H. Coors sold 55,603 shares of the firm’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $85.01, for a total value of $4,726,811.03. Following the completion of the sale, the chairman now owns 319,222 shares in the company, valued at $27,137,062.22. The disclosure for this sale can be found here. 2.76% of the stock is owned by company insiders.

Shares of Molson Coors Brewing Co (TAP) opened at $81.06 on Friday. Molson Coors Brewing Co has a 52 week low of $76.25 and a 52 week high of $102.14. 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 firm has a market capitalization of $18,097.91 and a price-to-earnings ratio of 7.82.

Molson Coors Brewing (NYSE:TAP) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $1.34 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.34. Molson Coors Brewing had a return on equity of 7.54% and a net margin of 17.04%. The company had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.97 billion. During the same period last year, the firm earned $1.03 earnings per share. Molson Coors Brewing’s quarterly revenue was up 204.3% on a year-over-year basis. equities research analysts predict that Molson Coors Brewing Co will post 4.33 EPS for the current year.

TAP has been the topic of several analyst reports. Zacks Investment Research upgraded Molson Coors Brewing from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a research note on Tuesday, January 2nd. Stifel Nicolaus reiterated a “buy” rating and issued a $116.00 price objective on shares of Molson Coors Brewing in a research note on Friday, December 22nd. Deutsche Bank initiated coverage on Molson Coors Brewing in a research note on Wednesday, December 13th. They issued a “buy” rating and a $89.00 price objective on the stock. Citigroup reduced their price objective on Molson Coors Brewing from $106.00 to $102.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. Finally, Susquehanna Bancshares reiterated a “buy” rating on shares of Molson Coors Brewing in a research note on Wednesday, October 11th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $96.66.

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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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