Molson Coors Brewing Co (TAP) is Empire Life Investments Inc.’s 2nd Largest Position

Empire Life Investments Inc. lifted its holdings in Molson Coors Brewing Co (NYSE:TAP) by 16.9% in the fourth quarter, HoldingsChannel reports. The firm owned 680,231 shares of the company’s stock after purchasing an additional 98,533 shares during the quarter. Molson Coors Brewing accounts for 4.3% of Empire Life Investments Inc.’s portfolio, making the stock its 2nd largest position. Empire Life Investments Inc.’s holdings in Molson Coors Brewing were worth $55,827,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Dupont Capital Management Corp purchased a new position in shares of Molson Coors Brewing in the third quarter valued at $103,000. Cerebellum GP LLC purchased a new position in Molson Coors Brewing during the fourth quarter worth $129,000. Valeo Financial Advisors LLC boosted its stake in Molson Coors Brewing by 58.2% during the fourth quarter. Valeo Financial Advisors LLC now owns 1,864 shares of the company’s stock worth $153,000 after buying an additional 686 shares during the period. Advisor Group Inc. boosted its stake in Molson Coors Brewing by 48.9% during the third quarter. Advisor Group Inc. now owns 2,598 shares of the company’s stock worth $213,000 after buying an additional 853 shares during the period. Finally, Tower Research Capital LLC TRC boosted its stake in Molson Coors Brewing by 1,126.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 2,624 shares of the company’s stock worth $216,000 after buying an additional 2,410 shares during the period. 77.09% of the stock is owned by hedge funds and other institutional investors.

In other news, Chairman Peter H. Coors sold 55,603 shares of the business’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $85.01, for a total transaction of $4,726,811.03. Following the sale, the chairman now owns 319,222 shares in the company, valued at $27,137,062.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.76% of the stock is currently owned by insiders.

TAP has been the subject of several research analyst reports. Zacks Investment Research upgraded Molson Coors Brewing from a “hold” rating to a “buy” rating and set a $92.00 target price for the company in a research report on Monday, February 19th. Morgan Stanley initiated coverage on Molson Coors Brewing in a research report on Tuesday, January 9th. They set an “equal weight” rating and a $88.00 target price for the company. Berenberg Bank upgraded Molson Coors Brewing from a “sell” rating to a “hold” rating and set a $78.00 target price for the company in a research report on Thursday, February 8th. BMO Capital Markets initiated coverage on Molson Coors Brewing in a research report on Monday, February 5th. They set an “outperform” rating and a $95.00 target price for the company. Finally, Stifel Nicolaus reiterated a “buy” rating and set a $116.00 target price on shares of Molson Coors Brewing in a research report on Friday, December 22nd. Eight investment analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Molson Coors Brewing currently has an average rating of “Buy” and a consensus target price of $96.88.

Molson Coors Brewing Co (TAP) opened at $81.09 on Monday. The company has a market cap of $17,479.44, a PE ratio of 12.61, a price-to-earnings-growth ratio of 1.81 and a beta of 0.86. The company has a quick ratio of 0.47, a current ratio of 0.64 and a debt-to-equity ratio of 0.79. Molson Coors Brewing Co has a fifty-two week low of $72.71 and a fifty-two week high of $99.65.

Molson Coors Brewing (NYSE:TAP) last announced its earnings results on Wednesday, February 14th. The company reported $0.62 EPS for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.06. Molson Coors Brewing had a net margin of 10.34% and a return on equity of 7.55%. The business had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same period in the previous year, the company posted $0.47 earnings per share. The firm’s revenue was up 4.5% on a year-over-year basis. equities analysts predict that Molson Coors Brewing Co will post 5.16 EPS for the current fiscal year.

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 2.02%. Molson Coors Brewing’s payout ratio is 25.51%.

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About Molson Coors Brewing

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

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