IFM Investors Pty Ltd raised its position in Molson Coors Brewing Co (NYSE:TAP) by 14.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,808 shares of the company’s stock after purchasing an additional 1,260 shares during the quarter. IFM Investors Pty Ltd’s holdings in Molson Coors Brewing were worth $603,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in TAP. Fairpointe Capital LLC raised its holdings in shares of Molson Coors Brewing by 42,908.9% in the 2nd quarter. Fairpointe Capital LLC now owns 1,376,285 shares of the company’s stock worth $93,643,000 after purchasing an additional 1,373,085 shares during the period. BlackRock Inc. raised its holdings in shares of Molson Coors Brewing by 10.9% in the 2nd quarter. BlackRock Inc. now owns 13,894,209 shares of the company’s stock worth $945,363,000 after purchasing an additional 1,367,047 shares during the period. Thompson Siegel & Walmsley LLC purchased a new position in shares of Molson Coors Brewing in the 2nd quarter worth about $66,077,000. Massachusetts Financial Services Co. MA raised its holdings in shares of Molson Coors Brewing by 59.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,027,592 shares of the company’s stock worth $137,957,000 after purchasing an additional 758,900 shares during the period. Finally, American Century Companies Inc. raised its holdings in shares of Molson Coors Brewing by 29.1% in the 2nd quarter. American Century Companies Inc. now owns 2,510,468 shares of the company’s stock worth $170,812,000 after purchasing an additional 565,994 shares during the period. Institutional investors own 76.15% of the company’s stock.
In other Molson Coors Brewing news, insider Krishnan Anand sold 2,595 shares of the firm’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $66.26, for a total transaction of $171,944.70. Following the completion of the sale, the insider now owns 49,946 shares in the company, valued at approximately $3,309,421.96. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 2.55% of the company’s stock.
Molson Coors Brewing (NYSE:TAP) last announced its earnings results on Wednesday, August 1st. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.83 by $0.05. The business had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.08 billion. Molson Coors Brewing had a return on equity of 6.97% and a net margin of 11.68%. The company’s revenue was down .2% on a year-over-year basis. During the same period last year, the business posted $1.70 EPS. On average, equities analysts forecast that Molson Coors Brewing Co will post 4.78 earnings per share for the current year.
A number of equities analysts have recently commented on the company. Jefferies Financial Group assumed coverage on Molson Coors Brewing in a report on Friday, September 7th. They issued an “underperform” rating and a $55.00 price objective on the stock. Berenberg Bank set a $67.00 price objective on Molson Coors Brewing and gave the stock a “hold” rating in a report on Tuesday, September 11th. Susquehanna Bancshares raised their price objective on Molson Coors Brewing from $80.00 to $84.00 and gave the stock a “positive” rating in a report on Thursday, August 2nd. Zacks Investment Research upgraded Molson Coors Brewing from a “sell” rating to a “hold” rating in a report on Friday, October 26th. Finally, Standpoint Research started coverage on Molson Coors Brewing in a report on Tuesday, October 23rd. They set a “buy” rating and a $72.00 target price on the stock. Two research analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $75.79.
Molson Coors Brewing Profile
Molson Coors Brewing Company manufactures and sells beer and other beverage products in the United States, Canada, Europe, and internationally. It sells various products under the Coors Light, Miller Lite, Coors Banquet, the Blue Moon Brewing Company brands, the Jacob Leinenkugel Brewing Company brands, Keystone, Icehouse, Mickey's, Miller 64, Miller Genuine Draft, Miller High Life, Milwaukee's Best, Hamm's, Olde English 800, Steel Reserve, Crispin, Smith & Forge, Redd's, the Henry's Hard Soda, and Steel Reserve Alloy Series brands.
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