BT Investment Management Ltd Buys Shares of 3,275 Molson Coors Brewing Company (TAP)
BT Investment Management Ltd bought a new stake in shares of Molson Coors Brewing Company (NYSE:TAP) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 3,275 shares of the company’s stock, valued at approximately $283,000.
A number of other hedge funds also recently modified their holdings of TAP. Bessemer Group Inc. boosted its holdings in Molson Coors Brewing by 12.8% during the 2nd quarter. Bessemer Group Inc. now owns 1,230 shares of the company’s stock valued at $106,000 after acquiring an additional 140 shares during the period. Penserra Capital Management LLC boosted its holdings in Molson Coors Brewing by 9.5% during the 1st quarter. Penserra Capital Management LLC now owns 1,196 shares of the company’s stock valued at $114,000 after acquiring an additional 104 shares during the period. Korea Investment CORP boosted its holdings in Molson Coors Brewing by 142.0% during the 2nd quarter. Korea Investment CORP now owns 1,750 shares of the company’s stock valued at $151,000 after acquiring an additional 1,027 shares during the period. Lloyds Banking Group plc boosted its holdings in Molson Coors Brewing by 18.4% during the 2nd quarter. Lloyds Banking Group plc now owns 1,908 shares of the company’s stock valued at $164,000 after acquiring an additional 296 shares during the period. Finally, FNY Partners Fund LP boosted its holdings in Molson Coors Brewing by 257.1% during the 2nd quarter. FNY Partners Fund LP now owns 2,500 shares of the company’s stock valued at $215,000 after acquiring an additional 1,800 shares during the period. Institutional investors own 78.32% of the company’s stock.
In other news, CEO Gavin Hattersley sold 17,215 shares of the company’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $91.90, for a total transaction of $1,582,058.50. Following the transaction, the chief executive officer now owns 99,217 shares of the company’s stock, valued at $9,118,042.30. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 2.76% of the company’s stock.
ILLEGAL ACTIVITY WARNING: This piece of content was first posted by Daily Political and is the property of of Daily Political. If you are viewing this piece of content on another website, it was illegally copied and reposted in violation of international copyright laws. The original version of this piece of content can be accessed at https://www.dailypolitical.com/2017/09/23/bt-investment-management-ltd-buys-shares-of-3275-molson-coors-brewing-company-tap.html.
Shares of Molson Coors Brewing Company (NYSE:TAP) opened at 82.81 on Friday. The stock has a market cap of $17.83 billion, a PE ratio of 8.27 and a beta of 0.90. Molson Coors Brewing Company has a 12-month low of $82.51 and a 12-month high of $112.19. The firm has a 50-day moving average price of $89.50 and a 200 day moving average price of $91.77.
Molson Coors Brewing (NYSE:TAP) last released its earnings results on Wednesday, August 2nd. The company reported $1.66 EPS for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.38). The business had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.10 billion. Molson Coors Brewing had a net margin of 19.78% and a return on equity of 7.41%. The company’s quarterly revenue was down .6% compared to the same quarter last year. During the same period in the prior year, the company posted $1.11 EPS. Equities research analysts expect that Molson Coors Brewing Company will post $4.30 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 15th. Stockholders of record on Thursday, August 31st were paid a dividend of $0.41 per share. The ex-dividend date was Tuesday, August 29th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.98%. Molson Coors Brewing ‘s dividend payout ratio is 16.38%.
Several equities research analysts recently weighed in on the company. Susquehanna Bancshares Inc restated a “buy” rating and set a $108.00 target price on shares of Molson Coors Brewing in a report on Friday. Berenberg Bank assumed coverage on Molson Coors Brewing in a report on Wednesday, September 13th. They set a “sell” rating and a $78.00 target price for the company. BidaskClub upgraded Molson Coors Brewing from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. UBS AG restated a “neutral” rating and set a $98.00 target price (up from $96.00) on shares of Molson Coors Brewing in a report on Wednesday, August 9th. Finally, Zacks Investment Research cut Molson Coors Brewing from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 8th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $107.35.
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.
Want to see what other hedge funds are holding TAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Molson Coors Brewing Company (NYSE:TAP).
Receive News & Ratings for Molson Coors Brewing Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Molson Coors Brewing Company and related companies with MarketBeat.com's FREE daily email newsletter.