Principal Financial Group Inc. lowered its position in Molson Coors Brewing Co (NYSE:TAP) by 12.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 595,320 shares of the company’s stock after selling 85,030 shares during the period. Principal Financial Group Inc. owned approximately 0.28% of Molson Coors Brewing worth $33,433,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Private Advisor Group LLC purchased a new stake in shares of Molson Coors Brewing in the 3rd quarter worth about $461,000. Cambridge Investment Research Advisors Inc. grew its position in Molson Coors Brewing by 34.6% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 8,098 shares of the company’s stock valued at $498,000 after purchasing an additional 2,082 shares during the last quarter. Commonwealth Equity Services LLC grew its position in Molson Coors Brewing by 6.1% during the 3rd quarter. Commonwealth Equity Services LLC now owns 21,975 shares of the company’s stock valued at $1,351,000 after purchasing an additional 1,264 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Molson Coors Brewing by 49.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 38,285 shares of the company’s stock valued at $2,356,000 after purchasing an additional 12,665 shares during the last quarter. Finally, BlackRock Inc. grew its position in Molson Coors Brewing by 1.5% during the 3rd quarter. BlackRock Inc. now owns 14,104,797 shares of the company’s stock valued at $867,444,000 after purchasing an additional 210,588 shares during the last quarter. Hedge funds and other institutional investors own 76.50% of the company’s stock.

In other news, CEO Simon Cox sold 9,497 shares of the stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $60.69, for a total value of $576,372.93. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 2.55% of the stock is owned by corporate insiders.

Shares of NYSE TAP opened at $59.45 on Monday. The company has a current ratio of 0.64, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. The stock has a market cap of $12.85 billion, a PE ratio of 11.80, a P/E/G ratio of 2.85 and a beta of 0.78. Molson Coors Brewing Co has a 52-week low of $54.17 and a 52-week high of $76.53.

Molson Coors Brewing (NYSE:TAP) last announced its quarterly earnings results on Tuesday, February 12th. The company reported $0.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.78 by $0.06. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.53 billion. Molson Coors Brewing had a net margin of 8.37% and a return on equity of 7.89%. The business’s quarterly revenue was down 6.2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.62 EPS. On average, equities research analysts forecast that Molson Coors Brewing Co will post 4.66 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, March 15th. Stockholders of record on Monday, March 4th were issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date was Friday, March 1st. Molson Coors Brewing’s payout ratio is presently 32.54%.

Several analysts recently commented on TAP shares. UBS Group started coverage on shares of Molson Coors Brewing in a research report on Thursday, December 13th. They set a “buy” rating and a $80.00 price objective on the stock. Citigroup cut their price objective on shares of Molson Coors Brewing from $72.00 to $69.00 and set a “buy” rating on the stock in a research report on Thursday, February 14th. Deutsche Bank downgraded shares of Molson Coors Brewing from a “buy” rating to a “hold” rating and cut their price objective for the company from $72.00 to $63.00 in a research report on Tuesday, February 12th. Morgan Stanley set a $68.00 price objective on shares of Molson Coors Brewing and gave the company a “hold” rating in a research report on Thursday, December 20th. Finally, BMO Capital Markets cut their price objective on shares of Molson Coors Brewing from $85.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 13th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company’s stock. Molson Coors Brewing has an average rating of “Hold” and an average price target of $71.23.

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Molson Coors Brewing Profile

Molson Coors Brewing Company manufactures, markets, and sells beer and other malt beverage products in the United States, Canada, Europe, and internationally. The company sells various products under the Blue Moon, Coors Banquet, Coors Light, Miller Genuine Draft, Miller Lite, Hamm's, Icehouse, Keystone, Mickey's, Miller64, Miller High Life, Milwaukee's Best, Olde English, Steel Reserve, Grolsch, Hop Valley, Leinenkugel's, Peroni Nastro Azurro, Pilsner Urquell, Revolver, Saint Archer, Sol, Terrapin, Crispin, Smith & Forge, Arnold Palmer Spiked, Henry's Hard, Redd's, and Steel Reserve Alloy Series brands.

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

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