Redpoint Investment Management Pty Ltd Grows Stake in Molson Coors Brewing Co (TAP)

Redpoint Investment Management Pty Ltd increased its position in shares of Molson Coors Brewing Co (NYSE:TAP) by 253.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 24,148 shares of the company’s stock after purchasing an additional 17,311 shares during the period. Redpoint Investment Management Pty Ltd’s holdings in Molson Coors Brewing were worth $1,356,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Standard Life Aberdeen plc increased its position in shares of Molson Coors Brewing by 11.3% during the third quarter. Standard Life Aberdeen plc now owns 797,948 shares of the company’s stock valued at $49,078,000 after purchasing an additional 81,014 shares during the period. Confluence Wealth Management LLC grew its position in Molson Coors Brewing by 77.9% in the third quarter. Confluence Wealth Management LLC now owns 6,737 shares of the company’s stock valued at $414,000 after acquiring an additional 2,950 shares during the period. Nordea Investment Management AB grew its position in Molson Coors Brewing by 3.2% in the third quarter. Nordea Investment Management AB now owns 309,506 shares of the company’s stock valued at $19,034,000 after acquiring an additional 9,722 shares during the period. Bowling Portfolio Management LLC bought a new stake in Molson Coors Brewing in the fourth quarter valued at $2,727,000. Finally, Cambiar Investors LLC grew its position in Molson Coors Brewing by 2.3% in the third quarter. Cambiar Investors LLC now owns 588,058 shares of the company’s stock valued at $36,166,000 after acquiring an additional 13,418 shares during the period. Institutional investors and hedge funds own 80.41% of the company’s stock.

In other news, insider Krishnan Anand sold 2,595 shares of the company’s stock in a transaction on Monday, December 3rd. The stock was sold at an average price of $64.75, for a total transaction of $168,026.25. Following the transaction, the insider now owns 49,946 shares of the company’s stock, valued at $3,234,003.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 2.55% of the company’s stock.

Molson Coors Brewing stock opened at $59.19 on Wednesday. The company has a current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.64. The firm has a market capitalization of $14.10 billion, a price-to-earnings ratio of 13.24, a price-to-earnings-growth ratio of 2.93 and a beta of 0.84. Molson Coors Brewing Co has a 52 week low of $54.17 and a 52 week high of $82.29.

Molson Coors Brewing (NYSE:TAP) last issued its quarterly earnings results on Tuesday, February 12th. The company reported $0.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.78 by $0.06. Molson Coors Brewing had a return on equity of 7.58% and a net margin of 12.05%. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.53 billion. During the same quarter in the prior year, the firm posted $0.62 earnings per share. The firm’s revenue for the quarter was down 6.2% compared to the same quarter last year. Research analysts anticipate that Molson Coors Brewing Co will post 4.96 earnings per share for the current year.

A number of analysts have weighed in on TAP shares. Standpoint Research started coverage on Molson Coors Brewing in a research report on Tuesday, October 23rd. They issued a “buy” rating and a $72.00 price target on the stock. UBS Group started coverage on Molson Coors Brewing in a research report on Thursday, December 13th. They issued a “buy” rating and a $80.00 price target on the stock. Citigroup lowered their price target on Molson Coors Brewing from $78.00 to $72.00 and set a “buy” rating on the stock in a research report on Thursday, November 1st. Zacks Investment Research upgraded Molson Coors Brewing from a “sell” rating to a “hold” rating in a research report on Friday, October 26th. Finally, Deutsche Bank cut Molson Coors Brewing from a “buy” rating to a “hold” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $73.43.

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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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