HL Financial Services LLC acquired a new position in shares of Molson Coors Brewing Company (NYSE:TAP) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 6,537 shares of the company’s stock, valued at approximately $534,000.
Other institutional investors also recently bought and sold shares of the company. Baker Ellis Asset Management LLC lifted its position in Molson Coors Brewing by 4.9% during the 3rd quarter. Baker Ellis Asset Management LLC now owns 35,086 shares of the company’s stock worth $2,864,000 after acquiring an additional 1,650 shares during the period. State of New Jersey Common Pension Fund D acquired a new stake in Molson Coors Brewing during the 3rd quarter worth approximately $24,492,000. Strs Ohio lifted its position in Molson Coors Brewing by 6.4% during the 3rd quarter. Strs Ohio now owns 605,977 shares of the company’s stock worth $49,471,000 after acquiring an additional 36,604 shares during the period. Wells Fargo & Company MN lifted its position in Molson Coors Brewing by 26.3% during the 2nd quarter. Wells Fargo & Company MN now owns 2,581,382 shares of the company’s stock worth $222,877,000 after acquiring an additional 537,767 shares during the period. Finally, Principal Financial Group Inc. lifted its position in Molson Coors Brewing by 1.3% during the 2nd quarter. Principal Financial Group Inc. now owns 279,587 shares of the company’s stock worth $24,140,000 after acquiring an additional 3,476 shares during the period. 78.72% of the stock is owned by institutional investors.
Shares of Molson Coors Brewing Company (NYSE TAP) opened at $80.84 on Tuesday. The company has a quick ratio of 0.54, a current ratio of 0.69 and a debt-to-equity ratio of 0.83. The company has a market capitalization of $17,305.23, a P/E ratio of 19.04, a PEG ratio of 2.36 and a beta of 0.86. Molson Coors Brewing Company has a 1-year low of $78.10 and a 1-year high of $102.14.
Molson Coors Brewing (NYSE:TAP) last posted its quarterly earnings results on Wednesday, November 1st. The company reported $1.34 EPS for the quarter, meeting the consensus estimate of $1.34. The business had revenue of $2.88 billion during the quarter, compared to analysts’ expectations of $2.97 billion. Molson Coors Brewing had a return on equity of 7.54% and a net margin of 17.04%. The company’s quarterly revenue was up 204.3% compared to the same quarter last year. During the same period last year, the firm earned $1.03 EPS. sell-side analysts anticipate that Molson Coors Brewing Company will post 4.34 earnings per share for the current fiscal year.
COPYRIGHT VIOLATION NOTICE: This story was first posted by Chaffey Breeze and is the property of of Chaffey Breeze. If you are accessing this story on another site, it was illegally stolen and reposted in violation of U.S. & international copyright & trademark law. The legal version of this story can be viewed at https://www.chaffeybreeze.com/2017/11/14/hl-financial-services-llc-purchases-new-position-in-molson-coors-brewing-company-tap.html.
TAP has been the subject of a number of recent research reports. Zacks Investment Research cut Molson Coors Brewing from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Cowen and Company reaffirmed a “hold” rating and set a $96.00 price objective on shares of Molson Coors Brewing in a research report on Thursday, September 28th. BidaskClub raised Molson Coors Brewing from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. UBS AG reaffirmed a “neutral” rating and set a $98.00 price objective (up from $96.00) on shares of Molson Coors Brewing in a research report on Wednesday, August 9th. Finally, Susquehanna Bancshares Inc reaffirmed a “buy” rating on shares of Molson Coors Brewing in a research report on Wednesday, October 11th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Molson Coors Brewing currently has an average rating of “Hold” and an average price target of $98.92.
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.
Want to see what other hedge funds are holding TAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Molson Coors Brewing Company (NYSE:TAP).
Receive News & Ratings for Molson Coors Brewing Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Molson Coors Brewing Company and related companies with MarketBeat.com's FREE daily email newsletter.