Raymond James Financial Services Advisors Inc. trimmed its holdings in Molson Coors Brewing Company (NYSE:TAP) by 8.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,811 shares of the company’s stock after selling 2,408 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Molson Coors Brewing were worth $2,107,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Bessemer Group Inc. grew its stake in shares of Molson Coors Brewing by 12.8% in the second quarter. Bessemer Group Inc. now owns 1,230 shares of the company’s stock worth $106,000 after acquiring an additional 140 shares in the last quarter. Krilogy Financial LLC raised its stake in Molson Coors Brewing by 4,646.4% during the second quarter. Krilogy Financial LLC now owns 1,329 shares of the company’s stock worth $115,000 after purchasing an additional 1,301 shares during the period. Sun Life Financial INC raised its stake in Molson Coors Brewing by 14,900.0% during the second quarter. Sun Life Financial INC now owns 1,350 shares of the company’s stock worth $117,000 after purchasing an additional 1,341 shares during the period. Penserra Capital Management LLC increased its position in shares of Molson Coors Brewing by 30.4% in the second quarter. Penserra Capital Management LLC now owns 1,560 shares of the company’s stock worth $134,000 after acquiring an additional 364 shares in the last quarter. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Molson Coors Brewing in the third quarter worth $138,000. 78.00% of the stock is currently owned by institutional investors and hedge funds.
Shares of Molson Coors Brewing Company (TAP) traded down $0.19 during mid-day trading on Wednesday, reaching $80.32. 1,248,800 shares of the company were exchanged, compared to its average volume of 1,601,068. The company has a market capitalization of $18,690.00, a price-to-earnings ratio of 19.08, a P/E/G ratio of 2.36 and a beta of 0.82. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.54. Molson Coors Brewing Company has a fifty-two week low of $76.25 and a fifty-two week high of $102.14.
Molson Coors Brewing (NYSE:TAP) last announced its quarterly earnings results on Wednesday, November 1st. The company reported $1.34 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.34. Molson Coors Brewing had a net margin of 17.04% and a return on equity of 7.54%. The firm had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.97 billion. During the same quarter in the previous year, the firm posted $1.03 EPS. The business’s revenue for the quarter was up 204.3% on a year-over-year basis. equities analysts anticipate that Molson Coors Brewing Company will post 4.34 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be given a dividend of $0.41 per share. The ex-dividend date is Wednesday, November 29th. This represents a $1.64 annualized dividend and a yield of 2.04%. Molson Coors Brewing’s dividend payout ratio (DPR) is 15.80%.
In related news, CFO Tracey Joubert sold 1,000 shares of the company’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $79.15, for a total transaction of $79,150.00. Following the transaction, the chief financial officer now owns 22,839 shares in the company, valued at approximately $1,807,706.85. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.76% of the stock is owned by corporate insiders.
TAP has been the subject of a number of recent analyst reports. Citigroup lowered their price target on shares of Molson Coors Brewing from $106.00 to $102.00 and set a “buy” rating for the company in a report on Friday, November 3rd. Susquehanna Bancshares reiterated a “buy” rating on shares of Molson Coors Brewing in a research report on Wednesday, October 11th. Berenberg Bank assumed coverage on shares of Molson Coors Brewing in a research note on Wednesday, September 13th. They set a “sell” rating and a $78.00 target price on the stock. BidaskClub raised shares of Molson Coors Brewing from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Finally, Zacks Investment Research cut shares of Molson Coors Brewing from a “hold” rating to a “sell” rating in a research note on Tuesday, October 10th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $98.92.
Molson Coors Brewing Profile
Molson Coors Brewing Company (MCBC) is a holding company. The Company operates as a brewer. The Company’s segments include MillerCoors LLC (United States segment), operating in the United States; Molson Coors Canada (Canada segment), operating in Canada; Molson Coors Europe (Europe segment), operating in Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, Republic of Ireland, Romania, Serbia, the United Kingdom and various other European countries; Molson Coors International (Molson Coors International segment), operating in various other countries, and Corporate.
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