Standard Life Aberdeen plc decreased its position in shares of Molson Coors Brewing Co (NYSE:TAP) by 1.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 589,963 shares of the company’s stock after selling 8,617 shares during the quarter. Standard Life Aberdeen plc owned 0.27% of Molson Coors Brewing worth $31,803,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the stock. Huntington National Bank boosted its stake in Molson Coors Brewing by 17.5% in the fourth quarter. Huntington National Bank now owns 8,954 shares of the company’s stock valued at $482,000 after acquiring an additional 1,334 shares during the last quarter. Bell Bank acquired a new position in Molson Coors Brewing in the 4th quarter valued at approximately $2,080,000. Evoke Wealth LLC acquired a new position in Molson Coors Brewing in the 3rd quarter valued at approximately $88,000. Capital Investment Advisors LLC increased its position in Molson Coors Brewing by 51.3% in the 4th quarter. Capital Investment Advisors LLC now owns 109,753 shares of the company’s stock valued at $5,916,000 after acquiring an additional 37,200 shares during the period. Finally, National Pension Service boosted its stake in shares of Molson Coors Brewing by 5.4% in the 3rd quarter. National Pension Service now owns 274,046 shares of the company’s stock valued at $15,758,000 after purchasing an additional 14,076 shares during the last quarter. 79.12% of the stock is owned by hedge funds and other institutional investors.
TAP traded up $1.08 during trading on Thursday, reaching $38.62. The company had a trading volume of 2,907,624 shares, compared to its average volume of 2,292,766. The stock has a market cap of $8.11 billion, a P/E ratio of 34.79, a PEG ratio of 1.63 and a beta of 0.84. The business has a 50 day simple moving average of $49.02 and a 200-day simple moving average of $53.15. Molson Coors Brewing Co has a 52 week low of $34.01 and a 52 week high of $64.32. The company has a quick ratio of 0.42, a current ratio of 0.59 and a debt-to-equity ratio of 0.59.
Molson Coors Brewing (NYSE:TAP) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.24. The company had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.48 billion. Molson Coors Brewing had a return on equity of 7.15% and a net margin of 1.86%. Molson Coors Brewing’s revenue was up 2.8% on a year-over-year basis. During the same period last year, the company earned $0.84 earnings per share. As a group, equities research analysts expect that Molson Coors Brewing Co will post 3.83 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 20th. Shareholders of record on Monday, March 9th were paid a $0.57 dividend. The ex-dividend date of this dividend was Friday, March 6th. This represents a $2.28 dividend on an annualized basis and a yield of 5.90%. Molson Coors Brewing’s payout ratio is 50.22%.
In other Molson Coors Brewing news, Vice Chairman Peter H. Coors sold 67,079 shares of the stock in a transaction on Wednesday, March 4th. The stock was sold at an average price of $51.22, for a total value of $3,435,786.38. Following the sale, the insider now owns 311,958 shares in the company, valued at $15,978,488.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 2.48% of the company’s stock.
A number of equities research analysts have recently commented on TAP shares. Guggenheim raised shares of Molson Coors Brewing from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $58.00 to $49.00 in a research note on Friday, March 20th. ValuEngine lowered shares of Molson Coors Brewing from a “hold” rating to a “sell” rating in a research note on Tuesday, March 3rd. Evercore ISI assumed coverage on shares of Molson Coors Brewing in a research note on Friday, February 7th. They issued a “buy” rating and a $60.00 price objective on the stock. Credit Suisse Group reissued a “sell” rating and set a $46.00 target price on shares of Molson Coors Brewing in a research note on Monday, February 17th. Finally, Jefferies Financial Group raised shares of Molson Coors Brewing from an “underperform” rating to a “hold” rating and set a $40.00 target price on the stock in a research note on Friday, March 20th. Five research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $51.46.
About Molson Coors Brewing
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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