Gryphon Financial Partners LLC Grows Position in Molson Coors Brewing Co (TAP)

Gryphon Financial Partners LLC increased its holdings in Molson Coors Brewing Co (NYSE:TAP) by 8,755.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,324 shares of the company’s stock after acquiring an additional 8,230 shares during the quarter. Gryphon Financial Partners LLC’s holdings in Molson Coors Brewing were worth $512,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in TAP. LPL Financial LLC lifted its position in shares of Molson Coors Brewing by 13.2% during the first quarter. LPL Financial LLC now owns 7,193 shares of the company’s stock valued at $542,000 after buying an additional 839 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of Molson Coors Brewing by 83.7% during the first quarter. Principal Financial Group Inc. now owns 511,618 shares of the company’s stock valued at $38,540,000 after buying an additional 233,061 shares during the last quarter. Allianz Asset Management GmbH lifted its position in shares of Molson Coors Brewing by 7.4% during the first quarter. Allianz Asset Management GmbH now owns 399,938 shares of the company’s stock valued at $30,127,000 after buying an additional 27,525 shares during the last quarter. IFM Investors Pty Ltd lifted its position in shares of Molson Coors Brewing by 44.8% during the second quarter. IFM Investors Pty Ltd now owns 8,548 shares of the company’s stock valued at $582,000 after buying an additional 2,643 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its position in shares of Molson Coors Brewing by 26.3% during the second quarter. State of Alaska Department of Revenue now owns 39,043 shares of the company’s stock valued at $2,655,000 after buying an additional 8,120 shares during the last quarter. 76.76% of the stock is owned by institutional investors.

In related news, insider Krishnan Anand sold 2,595 shares of the stock in a transaction that occurred on Monday, October 1st. The shares were sold at an average price of $61.42, for a total value of $159,384.90. Following the transaction, the insider now owns 49,578 shares in the company, valued at approximately $3,045,080.76. The sale was disclosed in a filing with the SEC, which is available through this link. In the last 90 days, insiders have sold 7,785 shares of company stock worth $499,512. Corporate insiders own 2.55% of the company’s stock.

TAP opened at $63.97 on Friday. Molson Coors Brewing Co has a 52-week low of $55.52 and a 52-week high of $85.86. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.49 and a current ratio of 0.64. The stock has a market cap of $13.52 billion, a PE ratio of 14.31, a P/E/G ratio of 2.78 and a beta of 0.56.

Molson Coors Brewing (NYSE:TAP) last posted its quarterly earnings data on Wednesday, October 31st. The company reported $1.84 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.25. Molson Coors Brewing had a net margin of 12.05% and a return on equity of 7.58%. The firm had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.92 billion. During the same quarter in the prior year, the company posted $1.34 earnings per share. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, analysts anticipate that Molson Coors Brewing Co will post 4.97 earnings per share for the current fiscal year.

Several analysts have commented on the stock. Jefferies Financial Group assumed coverage on shares of Molson Coors Brewing in a research report on Friday, September 7th. They set an “underperform” rating and a $55.00 price target for the company. Berenberg Bank set a $67.00 price target on shares of Molson Coors Brewing and gave the company a “hold” rating in a research report on Tuesday, September 11th. Susquehanna Bancshares increased their price target on shares of Molson Coors Brewing from $80.00 to $84.00 and gave the company a “positive” rating in a research report on Thursday, August 2nd. Zacks Investment Research raised shares of Molson Coors Brewing from a “sell” rating to a “hold” rating in a research report on Friday, October 26th. Finally, Citigroup decreased their price target on shares of Molson Coors Brewing from $78.00 to $72.00 and set a “buy” rating for the company in a research report on Thursday, November 1st. 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 company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $75.36.

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

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