Public Employees Retirement System of Ohio maintained its position in shares of Molson Coors Brewing Company (NYSE:TAP) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 76,357 shares of the company’s stock at the end of the first quarter. Public Employees Retirement System of Ohio’s holdings in Molson Coors Brewing were worth $7,308,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Amica Retiree Medical Trust bought a new stake in shares of Molson Coors Brewing during the first quarter worth $105,000. Penserra Capital Management LLC boosted its stake in shares of Molson Coors Brewing by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,196 shares of the company’s stock worth $114,000 after buying an additional 104 shares during the period. Advisory Services Network LLC bought a new stake in shares of Molson Coors Brewing during the first quarter worth $130,000. Lloyds Banking Group plc bought a new stake in shares of Molson Coors Brewing during the first quarter worth $154,000. Finally, Foster & Motley Inc. acquired a new stake in shares of Molson Coors Brewing during the first quarter valued at approximately $208,000. Institutional investors and hedge funds own 76.38% of the company’s stock.
Molson Coors Brewing Company (NYSE:TAP) traded down 0.51% on Friday, hitting $89.11. The company had a trading volume of 718,049 shares. The stock’s 50-day moving average price is $87.24 and its 200 day moving average price is $93.94. The company has a market capitalization of $19.18 billion, a P/E ratio of 9.57 and a beta of 0.91. Molson Coors Brewing Company has a one year low of $85.34 and a one year high of $112.19.
Molson Coors Brewing (NYSE:TAP) last announced its quarterly earnings data on Wednesday, May 3rd. The company reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $1.31 by $0.55. Molson Coors Brewing had a return on equity of 6.73% and a net margin of 23.53%. The firm had revenue of $2.49 billion during the quarter, compared to analysts’ expectations of $2.46 billion. During the same quarter in the previous year, the firm earned $0.54 earnings per share. Molson Coors Brewing ‘s revenue was up 278.7% on a year-over-year basis. On average, analysts expect that Molson Coors Brewing Company will post $6.49 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be issued a $0.41 dividend. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.64 dividend on an annualized basis and a yield of 1.84%. Molson Coors Brewing ‘s payout ratio is currently 17.60%.
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Several analysts have recently commented on the company. UBS AG restated a “neutral” rating and set a $100.00 target price (down previously from $108.00) on shares of Molson Coors Brewing in a report on Friday, May 5th. Susquehanna Bancshares Inc set a $114.00 price target on Molson Coors Brewing and gave the company a “buy” rating in a report on Saturday, June 3rd. Cowen and Company reiterated a “hold” rating and issued a $96.00 price target on shares of Molson Coors Brewing in a report on Friday, July 14th. Stifel Nicolaus reiterated a “buy” rating and issued a $111.00 price target on shares of Molson Coors Brewing in a report on Friday, July 14th. Finally, Vetr upgraded Molson Coors Brewing from a “buy” rating to a “strong-buy” rating and set a $103.20 price target on the stock in a report on Wednesday, May 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. Molson Coors Brewing has a consensus rating of “Hold” and an average price target of $112.27.
Molson Coors Brewing Company 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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