InterOcean Capital LLC Buys 16,748 Shares of Molson Coors Brewing Co (TAP)

InterOcean Capital LLC boosted its stake in shares of Molson Coors Brewing Co (NYSE:TAP) by 6.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 263,954 shares of the company’s stock after buying an additional 16,748 shares during the period. Molson Coors Brewing makes up approximately 1.7% of InterOcean Capital LLC’s holdings, making the stock its 19th largest holding. InterOcean Capital LLC owned approximately 0.12% of Molson Coors Brewing worth $16,233,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC increased its stake in Molson Coors Brewing by 20.2% in the second quarter. Janney Montgomery Scott LLC now owns 5,971 shares of the company’s stock worth $406,000 after purchasing an additional 1,002 shares during the period. Alps Advisors Inc. bought a new position in shares of Molson Coors Brewing during the 2nd quarter worth $430,000. Aperio Group LLC grew its position in shares of Molson Coors Brewing by 6.1% during the 2nd quarter. Aperio Group LLC now owns 161,490 shares of the company’s stock worth $10,988,000 after buying an additional 9,295 shares in the last quarter. Commonwealth Equity Services LLC grew its position in shares of Molson Coors Brewing by 35.0% during the 2nd quarter. Commonwealth Equity Services LLC now owns 20,711 shares of the company’s stock worth $1,409,000 after buying an additional 5,367 shares in the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Molson Coors Brewing by 1.7% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 607,123 shares of the company’s stock worth $41,309,000 after buying an additional 10,133 shares in the last quarter. Institutional investors own 76.13% of the company’s stock.

In other news, insider Krishnan Anand sold 2,595 shares of the firm’s stock in a transaction dated Monday, October 1st. The stock was sold at an average price of $61.42, for a total value of $159,384.90. Following the completion of the transaction, the insider now directly owns 49,578 shares in the company, valued at $3,045,080.76. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 7,785 shares of company stock valued at $499,512. Company insiders own 2.55% of the company’s stock.

A number of research firms have recently issued reports on TAP. Citigroup dropped their price target on Molson Coors Brewing from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Monday, August 27th. Jefferies Financial Group initiated coverage on Molson Coors Brewing in a research report on Friday, September 7th. They set an “underperform” rating and a $55.00 price objective on the stock. Zacks Investment Research reaffirmed a “hold” rating on shares of Molson Coors Brewing in a research report on Friday, November 16th. ValuEngine raised Molson Coors Brewing from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 1st. Finally, Guggenheim began coverage on Molson Coors Brewing in a report on Thursday, September 13th. They issued a “neutral” rating and a $66.00 price target for the company. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $75.36.

Shares of NYSE TAP opened at $65.77 on Monday. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.64 and a quick ratio of 0.49. The stock has a market capitalization of $14.19 billion, a price-to-earnings ratio of 14.71, a price-to-earnings-growth ratio of 2.92 and a beta of 0.57. Molson Coors Brewing Co has a fifty-two week low of $55.52 and a fifty-two week high of $85.86.

Molson Coors Brewing (NYSE:TAP) last issued its quarterly earnings results on Wednesday, October 31st. The company reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.25. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.92 billion. Molson Coors Brewing had a return on equity of 7.58% and a net margin of 12.05%. The company’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the company earned $1.34 earnings per share. On average, equities analysts anticipate that Molson Coors Brewing Co will post 4.97 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Stockholders of record on Friday, November 30th will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend 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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Molson Coors Brewing Company Profile

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.

Further Reading: Growth Stocks, What They Are, What They Are Not

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

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