Arizona State Retirement System grew its stake in Molson Coors Brewing Co (NYSE:TAP) by 7.3% during the 4th quarter, HoldingsChannel reports. The fund owned 95,504 shares of the company’s stock after purchasing an additional 6,527 shares during the quarter. Arizona State Retirement System’s holdings in Molson Coors Brewing were worth $7,838,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in TAP. Dupont Capital Management Corp bought a new stake in Molson Coors Brewing in the third quarter worth $103,000. Cerebellum GP LLC bought a new stake in Molson Coors Brewing in the fourth quarter worth $129,000. Meeder Asset Management Inc. bought a new stake in Molson Coors Brewing in the third quarter worth $138,000. Advisor Group Inc. boosted its holdings in Molson Coors Brewing by 48.9% in the third quarter. Advisor Group Inc. now owns 2,598 shares of the company’s stock worth $213,000 after acquiring an additional 853 shares in the last quarter. Finally, Citizens Financial Group Inc. RI boosted its holdings in 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 worth $237,000 after acquiring an additional 787 shares in the last quarter. 77.05% of the stock is currently owned by institutional investors and hedge funds.
TAP has been the topic of several analyst reports. Zacks Investment Research downgraded Molson Coors Brewing from a “strong-buy” rating to a “hold” rating in a report on Wednesday, January 10th. Deutsche Bank assumed coverage on Molson Coors Brewing in a research note on Wednesday, December 13th. They issued a “buy” rating and a $89.00 price target for the company. Susquehanna Bancshares set a $108.00 price target on Molson Coors Brewing and gave the stock a “buy” rating in a research note on Wednesday, November 1st. Berenberg Bank restated a “sell” rating and issued a $76.00 price target on shares of Molson Coors Brewing in a research note on Friday, November 3rd. Finally, Barclays assumed coverage on Molson Coors Brewing in a research note on Wednesday, January 10th. They issued an “overweight” rating and a $94.00 price target for the company. Seven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $96.88.
Molson Coors Brewing (NYSE:TAP) last posted its quarterly earnings data on Wednesday, February 14th. The company reported $0.62 EPS for the quarter, beating analysts’ consensus estimates of $0.56 by $0.06. The company had revenue of $2.58 billion during the quarter, compared to analysts’ expectations of $2.60 billion. Molson Coors Brewing had a return on equity of 7.55% and a net margin of 10.34%. Molson Coors Brewing’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.47 earnings per share. research analysts expect that Molson Coors Brewing Co will post 5.12 EPS for the current fiscal year.
In related news, Chairman Peter H. Coors sold 55,603 shares of the company’s stock in a transaction on Wednesday, January 17th. The stock was 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 in the company, valued at $27,137,062.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Tracey Joubert sold 1,000 shares of the company’s 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 sale, the chief financial officer now owns 22,839 shares of the company’s stock, valued at approximately $1,807,706.85. The disclosure for this sale can be found here. 2.76% of the stock is currently owned by corporate insiders.
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 Co (NYSE:TAP).
Receive News & Ratings for Molson Coors Brewing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Molson Coors Brewing and related companies with MarketBeat.com's FREE daily email newsletter.