Westbourne Investment Advisors Inc. Sells 1,195 Shares of Molson Coors Brewing Co (NYSE:TAP)

Westbourne Investment Advisors Inc. reduced its holdings in shares of Molson Coors Brewing Co (NYSE:TAP) by 8.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 13,420 shares of the company’s stock after selling 1,195 shares during the period. Westbourne Investment Advisors Inc.’s holdings in Molson Coors Brewing were worth $772,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Cascade Investment Advisors Inc. grew its stake in shares of Molson Coors Brewing by 5.4% in the third quarter. Cascade Investment Advisors Inc. now owns 18,465 shares of the company’s stock valued at $1,062,000 after buying an additional 950 shares in the last quarter. Centre Asset Management LLC boosted its position in Molson Coors Brewing by 11.6% during the third quarter. Centre Asset Management LLC now owns 159,890 shares of the company’s stock worth $9,194,000 after purchasing an additional 16,670 shares during the period. Stephens Inc. AR boosted its position in Molson Coors Brewing by 14.5% during the third quarter. Stephens Inc. AR now owns 67,816 shares of the company’s stock worth $3,899,000 after purchasing an additional 8,566 shares during the period. DORCHESTER WEALTH MANAGEMENT Co boosted its position in Molson Coors Brewing by 18.6% during the third quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 6,050 shares of the company’s stock worth $348,000 after purchasing an additional 950 shares during the period. Finally, Country Club Trust Company n.a. boosted its position in Molson Coors Brewing by 2,350.7% during the third quarter. Country Club Trust Company n.a. now owns 156,110 shares of the company’s stock worth $8,971,000 after purchasing an additional 149,740 shares during the period. 76.34% of the stock is owned by institutional investors.

TAP stock traded up $0.98 during midday trading on Tuesday, reaching $58.14. The company had a trading volume of 97,020 shares, compared to its average volume of 1,336,453. The company has a market capitalization of $12.33 billion, a price-to-earnings ratio of 11.47, a price-to-earnings-growth ratio of 2.40 and a beta of 0.78. The stock has a 50 day moving average price of $55.84 and a 200-day moving average price of $56.26. Molson Coors Brewing Co has a 1-year low of $49.92 and a 1-year high of $67.62. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.64 and a quick ratio of 0.47.

Molson Coors Brewing (NYSE:TAP) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.52 EPS for the quarter, missing the Zacks’ consensus estimate of $1.65 by ($0.13). The company had revenue of $2.95 billion during the quarter, compared to analyst estimates of $3.03 billion. Molson Coors Brewing had a net margin of 6.85% and a return on equity of 7.33%. The firm’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period last year, the firm earned $1.88 EPS. As a group, research analysts anticipate that Molson Coors Brewing Co will post 4.35 earnings per share for the current year.

A number of equities research analysts have recently weighed in on TAP shares. ValuEngine raised Molson Coors Brewing from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. MKM Partners initiated coverage on Molson Coors Brewing in a research note on Thursday, September 19th. They issued a “buy” rating and a $66.00 price target for the company. Guggenheim dropped their price target on Molson Coors Brewing from $63.00 to $52.00 and set a “neutral” rating for the company in a research note on Thursday, August 1st. Redburn Partners reaffirmed a “sell” rating on shares of Molson Coors Brewing in a research note on Friday, October 11th. Finally, Bank of America downgraded Molson Coors Brewing from a “buy” rating to an “underperform” rating in a research note on Monday, July 15th. Six equities research analysts have rated the stock with a sell rating, four have given a hold rating and five have issued a buy rating to the company’s stock. Molson Coors Brewing currently has an average rating of “Hold” and an average price target of $63.60.

In related news, VP Brian Tabolt sold 1,825 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $56.94, for a total value of $103,915.50. Following the completion of the transaction, the vice president now owns 6,218 shares of the company’s stock, valued at $354,052.92. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 2.48% of the stock is owned by insiders.

About Molson Coors Brewing

Molson Coors Brewing Company manufactures, markets, and sells beer and other malt beverage products in the United States, Canada, Europe, and internationally. The company sells various products under the Blue Moon, Coors Banquet, Coors Light, Miller Genuine Draft, Miller Lite, Hamm's, Icehouse, Keystone, Mickey's, Miller64, Miller High Life, Milwaukee's Best, Olde English, Steel Reserve, Grolsch, Hop Valley, Leinenkugel's, Peroni Nastro Azurro, Pilsner Urquell, Revolver, Saint Archer, Sol, Terrapin, Crispin, Smith & Forge, Arnold Palmer Spiked, Henry's Hard, Redd's, and Steel Reserve Alloy Series brands.

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Institutional Ownership by Quarter for Molson Coors Brewing (NYSE:TAP)

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