Molson Coors Brewing Company (TAP) Shares Bought by Advisor Group Inc.
Advisor Group Inc. lifted its stake in shares of Molson Coors Brewing Company (NYSE:TAP) by 48.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,598 shares of the company’s stock after acquiring an additional 853 shares during the quarter. Advisor Group Inc.’s holdings in Molson Coors Brewing were worth $213,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently bought and sold shares of TAP. FMR LLC boosted its holdings in Molson Coors Brewing by 3.2% during the second quarter. FMR LLC now owns 18,229,807 shares of the company’s stock worth $1,573,961,000 after buying an additional 562,180 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Molson Coors Brewing by 2.5% during the second quarter. Vanguard Group Inc. now owns 17,735,626 shares of the company’s stock worth $1,531,294,000 after buying an additional 429,859 shares in the last quarter. JPMorgan Chase & Co. boosted its holdings in Molson Coors Brewing by 33.2% during the second quarter. JPMorgan Chase & Co. now owns 16,058,334 shares of the company’s stock worth $1,386,476,000 after buying an additional 4,001,480 shares in the last quarter. BlackRock Inc. boosted its holdings in Molson Coors Brewing by 1.9% during the second quarter. BlackRock Inc. now owns 10,875,972 shares of the company’s stock worth $939,033,000 after buying an additional 199,962 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its holdings in Molson Coors Brewing by 33.0% during the second quarter. Lazard Asset Management LLC now owns 10,538,919 shares of the company’s stock worth $909,928,000 after buying an additional 2,616,561 shares in the last quarter. Institutional investors and hedge funds own 78.01% of the company’s stock.
A number of analysts recently weighed in on TAP shares. Citigroup reduced 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 report on Friday, November 3rd. Susquehanna Bancshares reaffirmed a “buy” rating on shares of Molson Coors Brewing in a research note on Wednesday, October 11th. Berenberg Bank initiated coverage on shares of Molson Coors Brewing in a research note on Wednesday, September 13th. They issued a “sell” rating and a $78.00 price objective for the company. BidaskClub raised shares of Molson Coors Brewing from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Finally, Zacks Investment Research lowered shares of Molson Coors Brewing from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. One research 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 stock. The stock has an average rating of “Hold” and an average target price of $98.92.
Molson Coors Brewing Company (TAP) traded down $2.06 during trading on Thursday, reaching $76.52. 2,000,100 shares of the company were exchanged, compared to its average volume of 1,601,094. Molson Coors Brewing Company has a 1 year low of $76.25 and a 1 year high of $102.14. The company has a quick ratio of 0.54, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The firm has a market cap of $16,926.13, a price-to-earnings ratio of 18.62, a price-to-earnings-growth ratio of 2.30 and a beta of 0.86.
Molson Coors Brewing (NYSE:TAP) last issued its earnings results on Wednesday, November 1st. The company reported $1.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.34. The company had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.97 billion. Molson Coors Brewing had a net margin of 17.04% and a return on equity of 7.54%. The company’s revenue for the quarter was up 204.3% on a year-over-year basis. During the same quarter last year, the business posted $1.03 EPS. equities analysts expect that Molson Coors Brewing Company will post 4.34 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Shareholders of record on Thursday, November 30th will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Wednesday, November 29th. Molson Coors Brewing’s dividend payout ratio (DPR) is currently 15.83%.
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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.
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