Standard Life Aberdeen plc Acquires 81,014 Shares of Molson Coors Brewing Co (TAP)

Standard Life Aberdeen plc grew its position in Molson Coors Brewing Co (NYSE:TAP) by 11.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 797,948 shares of the company’s stock after purchasing an additional 81,014 shares during the quarter. Standard Life Aberdeen plc owned approximately 0.37% of Molson Coors Brewing worth $49,078,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in TAP. Global X Management Co LLC boosted its holdings in Molson Coors Brewing by 8.9% during the second quarter. Global X Management Co LLC now owns 10,667 shares of the company’s stock worth $726,000 after buying an additional 868 shares in the last quarter. Meridian Investment Counsel Inc. grew its stake in Molson Coors Brewing by 2.2% during the second quarter. Meridian Investment Counsel Inc. now owns 43,498 shares of the company’s stock worth $2,960,000 after buying an additional 942 shares during the period. Rhumbline Advisers boosted its stake in shares of Molson Coors Brewing by 0.3% in the second quarter. Rhumbline Advisers now owns 331,466 shares of the company’s stock valued at $22,553,000 after purchasing an additional 981 shares during the period. State Treasurer State of Michigan boosted its stake in shares of Molson Coors Brewing by 1.8% in the third quarter. State Treasurer State of Michigan now owns 55,799 shares of the company’s stock valued at $3,432,000 after purchasing an additional 1,000 shares during the period. Finally, Garner Asset Management Corp boosted its stake in Molson Coors Brewing by 4.8% during the 3rd quarter. Garner Asset Management Corp now owns 21,969 shares of the company’s stock valued at $1,351,000 after acquiring an additional 1,000 shares during the last quarter. Hedge funds and other institutional investors own 73.49% of the company’s stock.

In related news, insider Krishnan Anand sold 2,595 shares of the firm’s stock in a transaction that occurred on Monday, October 1st. The stock was sold at an average price of $61.42, for a total transaction of $159,384.90. Following the completion of the transaction, the insider now owns 49,578 shares of the company’s stock, valued at approximately $3,045,080.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 7,785 shares of company stock valued at $499,512 in the last three months. Corporate insiders own 2.55% of the company’s stock.

TAP has been the topic of a number of analyst reports. Citigroup dropped their price objective on shares of Molson Coors Brewing from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Monday, August 27th. Jefferies Financial Group started coverage on shares of Molson Coors Brewing in a report on Friday, September 7th. They issued an “underperform” rating and a $55.00 target price for the company. Zacks Investment Research reissued a “hold” rating on shares of Molson Coors Brewing in a research report on Friday, November 16th. ValuEngine raised shares of Molson Coors Brewing from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 1st. Finally, Guggenheim assumed coverage on shares of Molson Coors Brewing in a research report on Thursday, September 13th. They issued a “neutral” rating and a $66.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have issued a buy rating to the company’s stock. Molson Coors Brewing currently has a consensus rating of “Hold” and a consensus target price of $75.36.

Shares of Molson Coors Brewing stock opened at $65.77 on Friday. The firm has a market cap of $14.19 billion, a P/E ratio of 14.71, a price-to-earnings-growth ratio of 2.92 and a beta of 0.56. Molson Coors Brewing Co has a 12 month low of $55.52 and a 12 month high of $85.86. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.49 and a current ratio of 0.64.

Molson Coors Brewing (NYSE:TAP) last released its quarterly earnings data on Wednesday, October 31st. The company reported $1.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.59 by $0.25. Molson Coors Brewing had a return on equity of 7.58% and a net margin of 12.05%. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates of $2.92 billion. During the same period in the previous year, the company posted $1.34 EPS. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. Research analysts anticipate that Molson Coors Brewing Co will post 4.97 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 17th. Shareholders of record on Friday, November 30th will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.49%. The ex-dividend date is Thursday, November 29th. Molson Coors Brewing’s payout ratio is 36.69%.

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About Molson Coors Brewing

Molson Coors Brewing Company manufactures and sells beer and other beverage products in the United States, Canada, Europe, and internationally. It sells various products under the Coors Light, Miller Lite, Coors Banquet, the Blue Moon Brewing Company brands, the Jacob Leinenkugel Brewing Company brands, Keystone, Icehouse, Mickey's, Miller 64, Miller Genuine Draft, Miller High Life, Milwaukee's Best, Hamm's, Olde English 800, Steel Reserve, Crispin, Smith & Forge, Redd's, the Henry's Hard Soda, and Steel Reserve Alloy Series brands.

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

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