Renaissance Technologies LLC Raises Position in Molson Coors Brewing Co (TAP)
Renaissance Technologies LLC boosted its holdings in shares of Molson Coors Brewing Co (NYSE:TAP) by 110.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 826,100 shares of the company’s stock after buying an additional 434,400 shares during the quarter. Renaissance Technologies LLC’s holdings in Molson Coors Brewing were worth $67,798,000 as of its most recent SEC filing.
A number of other hedge funds have also modified their holdings of the stock. Independent Franchise Partners LLP boosted its stake in Molson Coors Brewing by 41.3% in the fourth quarter. Independent Franchise Partners LLP now owns 8,707,547 shares of the company’s stock valued at $714,628,000 after acquiring an additional 2,546,533 shares in the last quarter. Amundi Pioneer Asset Management Inc. acquired a new stake in Molson Coors Brewing in the fourth quarter valued at approximately $12,293,000. Lombard Odier Asset Management Europe Ltd acquired a new stake in Molson Coors Brewing in the fourth quarter valued at approximately $218,000. Pittenger & Anderson Inc. boosted its stake in Molson Coors Brewing by 46.4% in the fourth quarter. Pittenger & Anderson Inc. now owns 15,775 shares of the company’s stock valued at $1,295,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Landscape Capital Management L.L.C. boosted its stake in Molson Coors Brewing by 77.8% in the fourth quarter. Landscape Capital Management L.L.C. now owns 32,284 shares of the company’s stock valued at $2,650,000 after acquiring an additional 14,125 shares in the last quarter. 77.09% of the stock is currently owned by institutional investors.
Shares of Molson Coors Brewing Co (TAP) opened at $80.96 on Tuesday. Molson Coors Brewing Co has a one year low of $72.71 and a one year high of $99.65. The company has a current ratio of 0.64, a quick ratio of 0.47 and a debt-to-equity ratio of 0.79. The company has a market cap of $17,479.44, a price-to-earnings ratio of 18.51, a PEG ratio of 1.81 and a beta of 0.86.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, March 15th. Stockholders of record on Monday, March 5th will be paid a dividend of $0.41 per share. The ex-dividend date is Friday, March 2nd. This represents a $1.64 annualized dividend and a dividend yield of 2.03%. Molson Coors Brewing’s payout ratio is currently 25.51%.
In related news, Chairman Peter H. Coors sold 55,603 shares of the firm’s stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $85.01, for a total transaction of $4,726,811.03. Following the completion of the transaction, the chairman now owns 319,222 shares of the company’s stock, valued at $27,137,062.22. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 2.76% of the company’s stock.
Several equities research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Molson Coors Brewing from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Morgan Stanley assumed coverage on shares of Molson Coors Brewing in a research note on Tuesday, January 9th. They issued an “equal weight” rating and a $88.00 target price for the company. Barclays assumed coverage on shares of Molson Coors Brewing in a research note on Wednesday, January 10th. They issued an “overweight” rating and a $94.00 target price for the company. Stifel Nicolaus restated a “buy” rating and issued a $112.00 target price on shares of Molson Coors Brewing in a research note on Friday, February 2nd. Finally, Deutsche Bank started coverage on shares of Molson Coors Brewing in a research note on Wednesday, December 13th. They issued a “buy” rating and a $89.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $96.88.
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Molson Coors Brewing Company 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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