Quadrature Capital Ltd acquired a new stake in shares of Molson Coors Brewing Co (NYSE:TAP) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 43,025 shares of the company’s stock, valued at approximately $1,478,000.
Other institutional investors also recently modified their holdings of the company. Trustcore Financial Services LLC grew its position in shares of Molson Coors Brewing by 75.0% in the 1st quarter. Trustcore Financial Services LLC now owns 700 shares of the company’s stock worth $27,000 after buying an additional 300 shares during the period. Valeo Financial Advisors LLC grew its position in shares of Molson Coors Brewing by 60.9% in the 2nd quarter. Valeo Financial Advisors LLC now owns 787 shares of the company’s stock worth $27,000 after buying an additional 298 shares during the period. Cerebellum GP LLC purchased a new stake in shares of Molson Coors Brewing in the 2nd quarter worth about $129,000. Evoke Wealth LLC grew its position in shares of Molson Coors Brewing by 27.6% in the 1st quarter. Evoke Wealth LLC now owns 2,004 shares of the company’s stock worth $78,000 after buying an additional 433 shares during the period. Finally, North Star Investment Management Corp. grew its position in shares of Molson Coors Brewing by 110.0% in the 2nd quarter. North Star Investment Management Corp. now owns 2,100 shares of the company’s stock worth $72,000 after buying an additional 1,100 shares during the period. 74.19% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:TAP traded up $0.32 during trading on Friday, hitting $38.32. The company’s stock had a trading volume of 1,639,611 shares, compared to its average volume of 1,398,938. The company has a 50-day moving average of $37.12 and a 200-day moving average of $40.25. Molson Coors Brewing Co has a 12 month low of $33.18 and a 12 month high of $61.94. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.67 and a quick ratio of 0.50. The firm has a market cap of $8.30 billion, a price-to-earnings ratio of 8.71, a P/E/G ratio of 1.73 and a beta of 0.86.
Molson Coors Brewing (NYSE:TAP) last issued its quarterly earnings data on Thursday, July 30th. The company reported $1.55 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.68 by $0.87. Molson Coors Brewing had a negative net margin of 1.33% and a positive return on equity of 7.18%. The firm had revenue of $2.50 billion for the quarter, compared to analysts’ expectations of $2.40 billion. During the same quarter in the prior year, the business earned $1.52 EPS. The business’s quarterly revenue was down 15.1% on a year-over-year basis. As a group, research analysts anticipate that Molson Coors Brewing Co will post 3.69 earnings per share for the current year.
A number of analysts have recently weighed in on TAP shares. Bryan, Garnier & Co raised shares of Molson Coors Brewing from a “sell” rating to a “buy” rating and set a $49.00 target price on the stock in a research report on Wednesday, July 15th. Industrial Alliance Securities downgraded shares of Molson Coors Brewing from a “buy” rating to a “hold” rating in a research report on Wednesday, May 13th. ValuEngine cut shares of Molson Coors Brewing from a “sell” rating to a “strong sell” rating in a research note on Thursday, August 6th. Credit Suisse Group began coverage on shares of Molson Coors Brewing in a research note on Monday, July 13th. They issued a “sell” rating and a $31.00 price target on the stock. Finally, Barclays reiterated a “hold” rating and issued a $40.00 price target on shares of Molson Coors Brewing in a research note on Sunday, July 19th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have given a buy rating to the company’s stock. Molson Coors Brewing has a consensus rating of “Hold” and an average price target of $47.53.
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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