Norinchukin Bank The grew its stake in shares of Molson Coors Brewing Company (NYSE:TAP) by 7.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,747 shares of the company’s stock after acquiring an additional 933 shares during the period. Norinchukin Bank The’s holdings in Molson Coors Brewing were worth $1,122,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in TAP. Independent Franchise Partners LLP acquired a new position in Molson Coors Brewing during the 2nd quarter worth $444,131,000. Maverick Capital Ltd. acquired a new position in Molson Coors Brewing during the 2nd quarter worth $438,738,000. JPMorgan Chase & Co. grew its holdings in Molson Coors Brewing by 33.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 16,058,334 shares of the company’s stock worth $1,386,476,000 after acquiring an additional 4,001,480 shares in the last quarter. Lazard Asset Management LLC lifted its position in shares of Molson Coors Brewing by 33.0% in the 2nd quarter. Lazard Asset Management LLC now owns 10,538,919 shares of the company’s stock worth $909,928,000 after buying an additional 2,616,561 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its position in shares of Molson Coors Brewing by 353.7% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 2,627,608 shares of the company’s stock worth $226,868,000 after buying an additional 2,048,467 shares during the last quarter. 76.51% of the stock is owned by institutional investors.
TAP has been the topic of a number of recent research reports. Susquehanna Bancshares Inc restated a “buy” rating on shares of Molson Coors Brewing in a research report on Wednesday, August 2nd. Credit Suisse Group set a $96.00 price target on shares of Molson Coors Brewing and gave the stock a “hold” rating in a research report on Thursday, August 3rd. UBS AG restated a “neutral” rating and issued a $98.00 price target (up from $96.00) on shares of Molson Coors Brewing in a research report on Thursday, August 3rd. Zacks Investment Research downgraded shares of Molson Coors Brewing from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Finally, BidaskClub upgraded shares of Molson Coors Brewing from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $98.92.
Molson Coors Brewing Company (NYSE TAP) traded up $0.13 during trading on Monday, hitting $79.67. 293,900 shares of the stock were exchanged, compared to its average volume of 1,603,076. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.54 and a current ratio of 0.69. Molson Coors Brewing Company has a one year low of $78.10 and a one year high of $102.14. The company has a market cap of $18,360.00, a P/E ratio of 18.88, a P/E/G ratio of 2.34 and a beta of 0.86.
Molson Coors Brewing (NYSE:TAP) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $1.34 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.34. The company had revenue of $2.88 billion for the quarter, compared to the consensus estimate of $2.97 billion. Molson Coors Brewing had a net margin of 17.04% and a return on equity of 7.54%. The company’s revenue for the quarter was up 204.3% on a year-over-year basis. During the same period last year, the firm posted $1.03 EPS. equities analysts expect that Molson Coors Brewing Company will post 4.34 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be given a $0.41 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.64 annualized dividend and a yield of 2.06%. Molson Coors Brewing’s dividend payout ratio is presently 15.80%.
About Molson Coors Brewing
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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