Commonwealth Bank of Australia Boosts Holdings in Molson Coors Brewing Co (TAP)

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Commonwealth Bank of Australia raised its stake in Molson Coors Brewing Co (NYSE:TAP) by 19.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,813 shares of the company’s stock after acquiring an additional 5,029 shares during the quarter. Commonwealth Bank of Australia’s holdings in Molson Coors Brewing were worth $1,725,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Hayek Kallen Investment Management boosted its stake in shares of Molson Coors Brewing by 0.4% in the 4th quarter. Hayek Kallen Investment Management now owns 40,287 shares of the company’s stock valued at $2,262,000 after purchasing an additional 164 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in shares of Molson Coors Brewing by 18.3% in the 4th quarter. Quadrant Capital Group LLC now owns 1,255 shares of the company’s stock valued at $66,000 after purchasing an additional 194 shares during the last quarter. E&G Advisors LP boosted its stake in shares of Molson Coors Brewing by 7.5% in the 4th quarter. E&G Advisors LP now owns 4,300 shares of the company’s stock valued at $241,000 after purchasing an additional 300 shares during the last quarter. Castle Rock Wealth Management LLC boosted its stake in shares of Molson Coors Brewing by 5.3% in the 4th quarter. Castle Rock Wealth Management LLC now owns 6,326 shares of the company’s stock valued at $421,000 after purchasing an additional 317 shares during the last quarter. Finally, Wetherby Asset Management Inc. boosted its stake in shares of Molson Coors Brewing by 10.6% in the 4th quarter. Wetherby Asset Management Inc. now owns 3,966 shares of the company’s stock valued at $223,000 after purchasing an additional 379 shares during the last quarter. Hedge funds and other institutional investors own 76.23% of the company’s stock.

Molson Coors Brewing stock opened at $60.59 on Thursday. Molson Coors Brewing Co has a fifty-two week low of $54.17 and a fifty-two week high of $81.78. The company has a market cap of $13.02 billion, a P/E ratio of 12.02, a PEG ratio of 2.89 and a beta of 0.78. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.64.

Molson Coors Brewing (NYSE:TAP) last released its quarterly earnings data on Tuesday, February 12th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate of $0.78 by $0.06. Molson Coors Brewing had a net margin of 8.37% and a return on equity of 7.89%. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.53 billion. During the same quarter last year, the firm earned $0.62 EPS. Molson Coors Brewing’s quarterly revenue was down 6.2% compared to the same quarter last year. Analysts expect that Molson Coors Brewing Co will post 4.66 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Monday, March 4th will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.71%. The ex-dividend date is Friday, March 1st. Molson Coors Brewing’s payout ratio is 32.54%.

Several brokerages have recently issued reports on TAP. Jefferies Financial Group reaffirmed a “sell” rating on shares of Molson Coors Brewing in a research note on Tuesday, February 12th. Zacks Investment Research reaffirmed a “hold” rating on shares of Molson Coors Brewing in a research note on Friday, November 16th. UBS Group began coverage on shares of Molson Coors Brewing in a research note on Thursday, December 13th. They issued a “buy” rating and a $80.00 target price on the stock. Citigroup reduced their target price on shares of Molson Coors Brewing from $72.00 to $69.00 and set a “buy” rating on the stock in a research note on Thursday, February 14th. Finally, BMO Capital Markets reduced their target price on shares of Molson Coors Brewing from $85.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 13th. Three analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the stock. Molson Coors Brewing currently has a consensus rating of “Hold” and an average target price of $71.23.

In related news, CEO Simon Cox sold 9,497 shares of Molson Coors Brewing stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $60.69, for a total transaction of $576,372.93. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 2.55% of the stock is owned by company insiders.

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About Molson Coors Brewing

Molson Coors Brewing Company manufactures and sells beer and other beverage products in the United States, Canada, Europe, and internationally. It sells various products under the Coors Light, Miller Lite, Coors Banquet, the Blue Moon Brewing Company brands, the Jacob Leinenkugel Brewing Company brands, Keystone, Icehouse, Mickey's, Miller 64, Miller Genuine Draft, Miller High Life, Milwaukee's Best, Hamm's, Olde English 800, Steel Reserve, Crispin, Smith & Forge, Redd's, the Henry's Hard Soda, and Steel Reserve Alloy Series brands.

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

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