Duality Advisers LP acquired a new position in Molson Coors Brewing Co (NYSE:TAP) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 40,388 shares of the company’s stock, valued at approximately $1,388,000.
Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. lifted its stake in Molson Coors Brewing by 4.6% in the first quarter. BlackRock Inc. now owns 17,596,516 shares of the company’s stock valued at $686,440,000 after acquiring an additional 767,482 shares during the last quarter. State Street Corp increased its holdings in shares of Molson Coors Brewing by 2.4% during the 1st quarter. State Street Corp now owns 9,582,023 shares of the company’s stock valued at $373,795,000 after acquiring an additional 224,315 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Molson Coors Brewing by 1.5% in the 1st quarter. Wells Fargo & Company MN now owns 4,481,136 shares of the company’s stock valued at $174,808,000 after acquiring an additional 66,238 shares in the last quarter. Invesco Ltd. boosted its position in Molson Coors Brewing by 28.6% during the first quarter. Invesco Ltd. now owns 4,180,398 shares of the company’s stock worth $163,078,000 after purchasing an additional 930,257 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Molson Coors Brewing by 17.2% during the 1st quarter. Bank of New York Mellon Corp now owns 3,146,123 shares of the company’s stock worth $122,731,000 after buying an additional 460,671 shares during the period. Hedge funds and other institutional investors own 79.76% of the company’s stock.
Several research analysts have recently issued reports on the stock. Citigroup dropped their price objective on shares of Molson Coors Brewing from $52.00 to $48.00 and set a “buy” rating on the stock in a report on Friday, May 1st. UBS Group cut their price target on Molson Coors Brewing from $55.00 to $50.00 and set a “buy” rating for the company in a report on Monday, May 4th. Barclays reissued a “hold” rating and set a $40.00 price objective on shares of Molson Coors Brewing in a report on Sunday, July 19th. MKM Partners lowered their price objective on Molson Coors Brewing from $63.00 to $59.00 and set a “buy” rating on the stock in a research report on Monday, April 6th. Finally, Bryan, Garnier & Co raised Molson Coors Brewing from a “sell” rating to a “buy” rating and set a $49.00 target price for the company in a research report on Wednesday, July 15th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $47.53.
Shares of NYSE:TAP opened at $37.52 on Friday. The company has a market capitalization of $8.13 billion, a PE ratio of -50.03, a P/E/G ratio of 2.23 and a beta of 0.84. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.42 and a current ratio of 0.67. The company’s fifty day moving average is $36.22 and its 200-day moving average is $43.56. Molson Coors Brewing Co has a 52 week low of $33.18 and a 52 week high of $61.94.
Molson Coors Brewing (NYSE:TAP) last released its quarterly earnings results on Thursday, July 30th. The company reported $1.55 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.87. The firm had revenue of $2.50 billion for the quarter, compared to analyst estimates of $2.40 billion. Molson Coors Brewing had a negative net margin of 1.33% and a positive return on equity of 7.18%. The company’s revenue for the quarter was down 15.1% compared to the same quarter last year. During the same period in the previous year, the business earned $1.52 earnings per share. On average, analysts forecast that Molson Coors Brewing Co will post 2.81 EPS for the current year.
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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