Comerica Bank lessened its stake in Molson Coors Brewing Co (NYSE:TAP) by 4.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 42,061 shares of the company’s stock after selling 1,789 shares during the quarter. Comerica Bank’s holdings in Molson Coors Brewing were worth $3,528,000 at the end of the most recent reporting period.
Other institutional investors also recently added to or reduced their stakes in the company. Dupont Capital Management Corp acquired a new position in shares of Molson Coors Brewing in the third quarter valued at approximately $103,000. Cerebellum GP LLC acquired a new position in shares of Molson Coors Brewing in the fourth quarter valued at approximately $129,000. Meeder Asset Management Inc. acquired a new position in shares of Molson Coors Brewing in the third quarter valued at approximately $138,000. Advisor Group Inc. boosted its holdings in shares of Molson Coors Brewing by 48.9% in the third quarter. Advisor Group Inc. now owns 2,598 shares of the company’s stock valued at $213,000 after buying an additional 853 shares during the period. Finally, Citizens Financial Group Inc. RI boosted its holdings in shares of Molson Coors Brewing by 37.3% in the third quarter. Citizens Financial Group Inc. RI now owns 2,899 shares of the company’s stock valued at $237,000 after buying an additional 787 shares during the period. Institutional investors own 76.90% of the company’s stock.
TAP has been the subject of several research analyst reports. Stifel Nicolaus reiterated a “buy” rating and issued a $112.00 price target on shares of Molson Coors Brewing in a report on Friday, February 2nd. Susquehanna Bancshares set a $107.00 price target on shares of Molson Coors Brewing and gave the company a “buy” rating in a report on Monday, February 12th. Zacks Investment Research upgraded shares of Molson Coors Brewing from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a report on Tuesday, January 2nd. Deutsche Bank initiated coverage on shares of Molson Coors Brewing in a report on Wednesday, December 13th. They issued a “buy” rating and a $89.00 price target for the company. Finally, Citigroup reduced their price target on shares of Molson Coors Brewing from $106.00 to $102.00 and set a “buy” rating for the company in a report on Friday, November 3rd. Eight equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Molson Coors Brewing has a consensus rating of “Buy” and a consensus price target of $96.88.
Molson Coors Brewing (NYSE:TAP) last announced its earnings results on Wednesday, February 14th. The company reported $0.62 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.56 by $0.06. Molson Coors Brewing had a net margin of 10.34% and a return on equity of 7.55%. The business had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.60 billion. During the same quarter in the prior year, the company posted $0.47 earnings per share. The firm’s revenue was up 4.5% on a year-over-year basis. analysts forecast that Molson Coors Brewing Co will post 4.94 EPS for the current fiscal year.
In other Molson Coors Brewing news, CFO Tracey Joubert sold 1,000 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $79.15, for a total value of $79,150.00. Following the completion of the sale, the chief financial officer now owns 22,839 shares in the company, valued at $1,807,706.85. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Chairman Peter H. Coors sold 55,603 shares of the stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $85.01, for a total transaction of $4,726,811.03. Following the completion of the sale, the chairman now owns 319,222 shares of the company’s stock, valued at approximately $27,137,062.22. The disclosure for this sale can be found here. Corporate insiders own 2.76% of the company’s stock.
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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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