Pictet Asset Management Ltd. lowered its position in Molson Coors Brewing Company (NYSE:TAP) by 63.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 93,777 shares of the company’s stock after selling 160,982 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Molson Coors Brewing were worth $7,656,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently added to or reduced their stakes in TAP. Independent Franchise Partners LLP acquired a new position in shares of Molson Coors Brewing in the second quarter valued at approximately $444,131,000. Maverick Capital Ltd. acquired a new stake in Molson Coors Brewing during the 2nd quarter valued at approximately $438,738,000. JPMorgan Chase & Co. increased its position in Molson Coors Brewing by 33.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 16,058,334 shares of the company’s stock valued at $1,386,476,000 after purchasing an additional 4,001,480 shares during the period. Lazard Asset Management LLC increased its position in Molson Coors Brewing by 33.0% during the 2nd quarter. Lazard Asset Management LLC now owns 10,538,919 shares of the company’s stock valued at $909,928,000 after purchasing an additional 2,616,561 shares during the period. Finally, Diamond Hill Capital Management Inc. increased its position in Molson Coors Brewing by 353.7% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 2,627,608 shares of the company’s stock valued at $226,868,000 after purchasing an additional 2,048,467 shares during the period. 79.06% of the stock is owned by institutional investors.

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A number of research firms have weighed in on TAP. Citigroup Inc. decreased their target price on shares of Molson Coors Brewing from $106.00 to $102.00 and set a “buy” rating for the company in a research report on Friday, November 3rd. Berenberg Bank reissued a “sell” rating and set a $76.00 target price on shares of Molson Coors Brewing in a research report on Friday, November 3rd. Susquehanna Bancshares Inc set a $108.00 target price on shares of Molson Coors Brewing and gave the company a “buy” rating in a research report on Wednesday, November 1st. Zacks Investment Research raised shares of Molson Coors Brewing from a “sell” rating to a “hold” rating in a research report on Tuesday, October 17th. Finally, Credit Suisse Group set a $92.00 target price on shares of Molson Coors Brewing and gave the company a “hold” rating in a research report on Friday, September 29th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $98.92.

Molson Coors Brewing Company (TAP) opened at $79.63 on Thursday. The stock has a market capitalization of $16,984.05, a P/E ratio of 18.69, a price-to-earnings-growth ratio of 2.31 and a beta of 0.86. Molson Coors Brewing Company has a twelve month low of $78.10 and a twelve month high of $106.35. The company has a current ratio of 0.69, a quick ratio of 0.54 and a debt-to-equity ratio of 0.83.

Molson Coors Brewing (NYSE:TAP) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $1.34 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.34. The firm had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.97 billion. Molson Coors Brewing had a return on equity of 7.54% and a net margin of 17.04%. The company’s revenue for the quarter was up 204.3% compared to the same quarter last year. During the same period in the prior year, the business earned $1.03 EPS. sell-side analysts anticipate that Molson Coors Brewing Company will post 4.34 earnings per share for the current fiscal year.

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.

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

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