Numeric Investors LLC bought a new stake in shares of Molson Coors Brewing Co (NYSE:TAP) during the fourth quarter, according to its most recent disclosure with the SEC. The fund bought 4,000 shares of the company’s stock, valued at approximately $389,000.
Several other institutional investors have also bought and sold shares of the stock. IFM Investors Pty Ltd acquired a new position in Molson Coors Brewing during the fourth quarter valued at about $237,000. Cigna Investments Inc. New acquired a new position in Molson Coors Brewing during the fourth quarter valued at about $649,000. Ladenburg Thalmann Financial Services Inc. boosted its position in 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. AQR Capital Management LLC boosted its position in Molson Coors Brewing by 34.9% in the fourth quarter. AQR Capital Management LLC now owns 888,110 shares of the company’s stock valued at $86,422,000 after buying an additional 229,715 shares during the period. Finally, Seven Eight Capital LP acquired a new position in Molson Coors Brewing during the fourth quarter valued at about $730,000. 80.12% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Molson Coors Brewing Co (NYSE:TAP) opened at 98.64 on Tuesday. The company’s 50 day moving average price is $97.92 and its 200 day moving average price is $100.86. Molson Coors Brewing Co has a 52-week low of $89.40 and a 52-week high of $112.19. The company has a market capitalization of $21.20 billion, a price-to-earnings ratio of 10.66 and a beta of 0.95.
Molson Coors Brewing (NYSE:TAP) last announced its quarterly earnings results on Tuesday, February 14th. The company reported $0.46 EPS for the quarter, missing analysts’ consensus estimates of $0.86 by $0.40. Molson Coors Brewing had a net margin of 11.48% and a return on equity of 7.21%. The firm had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.58 billion. During the same period in the previous year, the company posted $0.49 earnings per share. Molson Coors Brewing’s quarterly revenue was down 4.2% on a year-over-year basis. On average, analysts predict that Molson Coors Brewing Co will post $6.33 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 15th. Stockholders of record on Tuesday, February 28th were paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 1.66%. The ex-dividend date was Friday, February 24th. Molson Coors Brewing’s payout ratio is 60.74%.
Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. assumed coverage on Molson Coors Brewing in a research note on Tuesday. They set a “neutral” rating and a $105.00 target price on the stock. 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. Zacks Investment Research raised Molson Coors Brewing from a “strong sell” rating to a “hold” rating in a research note on Monday, February 20th. Credit Suisse Group AG assumed coverage on Molson Coors Brewing in a research note on Monday, January 23rd. They set a “neutral” rating and a $106.00 target price on the stock. They noted that the move was a valuation call. Finally, Stifel Nicolaus reduced their target price on Molson Coors Brewing from $117.00 to $113.00 and set a “buy” rating on the stock in a research note on Tuesday, December 20th. Three analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $123.44.
In other news, VP Brian Tabolt sold 1,806 shares of the firm’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 of the company’s stock, valued at approximately $415,188.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 2.53% of the stock is owned by company insiders.
About Molson Coors Brewing
Molson Coors Brewing Company (MCBC) is a holding company that operates as a brewer. The Company has a portfolio of brands, including Carling, Coors Light, Molson Canadian and Staropramen, as well as craft and specialty beers, such as Blue Moon, Creemore Springs, Cobra and Doom Bar. The Company operates through four segments: Molson Coors Canada (MCC or Canada segment); MillerCoors LLC (MillerCoors or U.S.
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