Molson Coors Brewing Co (TAP) Position Reduced by Sumitomo Mitsui Trust Holdings Inc.

Molson Coors Brewing Co (TAP) Position Reduced by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. decreased its stake in shares of Molson Coors Brewing Co (NYSE:TAP) by 11.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 519,988 shares of the company’s stock after selling 65,595 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned 0.24% of Molson Coors Brewing worth $49,768,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Molson Coors Brewing by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 10,564 shares of the company’s stock valued at $1,028,000 after buying an additional 43 shares during the period. Whittier Trust Co. increased its stake in shares of Molson Coors Brewing by 0.9% in the first quarter. Whittier Trust Co. now owns 5,321 shares of the company’s stock valued at $509,000 after buying an additional 46 shares during the period. Suntrust Banks Inc. increased its stake in shares of Molson Coors Brewing by 0.6% in the third quarter. Suntrust Banks Inc. now owns 8,113 shares of the company’s stock valued at $890,000 after buying an additional 52 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of Molson Coors Brewing by 2.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 6,846 shares of the company’s stock valued at $668,000 after buying an additional 131 shares during the period. Finally, Creative Planning increased its stake in shares of Molson Coors Brewing by 4.0% in the first quarter. Creative Planning now owns 4,093 shares of the company’s stock valued at $392,000 after buying an additional 156 shares during the period. 80.12% of the stock is currently owned by institutional investors.

Molson Coors Brewing Co (NYSE:TAP) traded up 1.52% during trading on Friday, reaching $93.12. The company’s stock had a trading volume of 1,983,109 shares. The stock has a 50-day moving average of $95.74 and a 200 day moving average of $98.28. Molson Coors Brewing Co has a one year low of $89.27 and a one year high of $112.19. The firm has a market capitalization of $20.02 billion, a P/E ratio of 10.06 and a beta of 0.95.

Molson Coors Brewing (NYSE:TAP) last posted its quarterly earnings results on Wednesday, May 3rd. The company reported $0.76 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.31 by $0.55. The company earned $2.49 billion during the quarter, compared to analysts’ expectations of $2.46 billion. Molson Coors Brewing had a net margin of 11.48% and a return on equity of 7.21%. Molson Coors Brewing’s revenue for the quarter was up 278.7% on a year-over-year basis. During the same quarter last year, the company earned $0.54 earnings per share. On average, equities research analysts predict that Molson Coors Brewing Co will post $6.32 EPS for the current fiscal year.

Several brokerages recently issued reports on TAP. Societe Generale downgraded Molson Coors Brewing from a “buy” rating to a “hold” rating and decreased their target price for the company from $118.00 to $98.00 in a research note on Thursday. Susquehanna Bancshares Inc reissued a “positive” rating and set a $114.00 target price (down previously from $140.00) on shares of Molson Coors Brewing in a research note on Thursday. Cowen and Company reissued an “outperform” rating and set a $120.00 target price on shares of Molson Coors Brewing in a research note on Monday, March 13th. Vetr raised Molson Coors Brewing from a “buy” rating to a “strong-buy” rating and set a $103.20 target price on the stock in a research note on Wednesday. Finally, JPMorgan Chase & Co. began coverage on Molson Coors Brewing in a research note on Tuesday, March 21st. They set a “neutral” rating and a $105.00 target price on the stock. Five research analysts have rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $114.47.

In other news, VP Brian Tabolt sold 1,806 shares of the company’s stock in a transaction that occurred on Thursday, March 16th. The stock was sold at an average price of $98.13, for a total value of $177,222.78. Following the completion of the sale, the vice president now directly owns 4,231 shares in the company, valued at $415,188.03. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.53% of the stock is owned by corporate insiders.

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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