Crestline Management LP decreased its stake in shares of Molson Coors Brewing Co (NYSE:TAP) by 41.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,555 shares of the company’s stock after selling 30,254 shares during the quarter. Crestline Management LP’s holdings in Molson Coors Brewing were worth $2,390,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Acima Private Wealth LLC bought a new stake in Molson Coors Brewing during the 4th quarter valued at about $25,000. Financial Gravity Companies Inc. bought a new stake in Molson Coors Brewing during the 4th quarter valued at about $60,000. Quadrant Capital Group LLC raised its holdings in shares of Molson Coors Brewing by 18.3% in the 4th quarter. Quadrant Capital Group LLC now owns 1,255 shares of the company’s stock valued at $66,000 after purchasing an additional 194 shares in the last quarter. Enlightenment Research LLC bought a new stake in shares of Molson Coors Brewing in the 4th quarter valued at about $84,000. Finally, TLP Group LLC bought a new stake in shares of Molson Coors Brewing in the 3rd quarter valued at about $124,000. Institutional investors own 76.23% of the company’s stock.
Several research firms have recently commented on TAP. Citigroup reduced their price target on shares of Molson Coors Brewing from $72.00 to $69.00 and set a “buy” rating for the company in a report on Thursday, February 14th. Zacks Investment Research lowered shares of Molson Coors Brewing from a “hold” rating to a “sell” rating in a report on Wednesday, February 13th. BMO Capital Markets reduced their price target on shares of Molson Coors Brewing from $85.00 to $80.00 and set an “outperform” rating for the company in a report on Wednesday, February 13th. Deutsche Bank lowered shares of Molson Coors Brewing from a “buy” rating to a “hold” rating and reduced their price target for the company from $72.00 to $63.00 in a report on Tuesday, February 12th. Finally, Jefferies Financial Group restated a “sell” rating on shares of Molson Coors Brewing in a report on Tuesday, February 12th. Three research analysts have rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $71.23.
NYSE TAP opened at $60.82 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.64 and a quick ratio of 0.51. The company has a market cap of $13.02 billion, a P/E ratio of 12.07, a PEG ratio of 2.89 and a beta of 0.78. Molson Coors Brewing Co has a 52 week low of $54.17 and a 52 week high of $81.78.
Molson Coors Brewing (NYSE:TAP) last posted its quarterly earnings data on Tuesday, February 12th. The company reported $0.84 EPS for the quarter, topping the consensus estimate of $0.78 by $0.06. The firm had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.53 billion. Molson Coors Brewing had a net margin of 8.37% and a return on equity of 7.89%. Molson Coors Brewing’s revenue was down 6.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.62 EPS. Research analysts forecast that Molson Coors Brewing Co will post 4.66 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Monday, March 4th were paid a dividend of $0.41 per share. The ex-dividend date of this dividend was Friday, March 1st. This represents a $1.64 annualized dividend and a dividend yield of 2.70%. Molson Coors Brewing’s dividend payout ratio (DPR) is presently 32.54%.
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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