Fox Run Management L.L.C. acquired a new stake in shares of Molson Coors Brewing Company (NYSE:TAP) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 6,500 shares of the company’s stock, valued at approximately $531,000.
Other institutional investors have also made changes to their positions in the company. Bessemer Group Inc. raised its position in Molson Coors Brewing by 12.8% in the second quarter. Bessemer Group Inc. now owns 1,230 shares of the company’s stock valued at $106,000 after purchasing an additional 140 shares during the period. Krilogy Financial LLC grew its stake in Molson Coors Brewing by 4,646.4% in the second quarter. Krilogy Financial LLC now owns 1,329 shares of the company’s stock worth $115,000 after purchasing an additional 1,301 shares in the last quarter. Sun Life Financial INC raised its holdings in Molson Coors Brewing by 14,900.0% during the second quarter. Sun Life Financial INC now owns 1,350 shares of the company’s stock worth $117,000 after purchasing an additional 1,341 shares in the last quarter. Penserra Capital Management LLC raised its holdings in Molson Coors Brewing by 30.4% during the second quarter. Penserra Capital Management LLC now owns 1,560 shares of the company’s stock worth $134,000 after purchasing an additional 364 shares in the last quarter. Finally, Meeder Asset Management Inc. purchased a new position in shares of Molson Coors Brewing during the 3rd quarter valued at $138,000. 78.72% of the stock is currently owned by institutional investors.
Several equities analysts recently weighed in on the stock. Citigroup Inc. cut their price objective on shares of Molson Coors Brewing from $106.00 to $102.00 and set a “buy” rating on the stock in a report on Friday, November 3rd. Susquehanna Bancshares Inc reissued a “buy” rating on shares of Molson Coors Brewing in a report on Wednesday, October 11th. Berenberg Bank started coverage on shares of Molson Coors Brewing in a research note on Wednesday, September 13th. They set a “sell” rating and a $78.00 price target for the company. BidaskClub upgraded shares of Molson Coors Brewing from a “sell” rating to a “hold” rating in a research report on Saturday, August 26th. Finally, Zacks Investment Research lowered Molson Coors Brewing from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. One 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 assigned a strong buy rating to the stock. Molson Coors Brewing currently has a consensus rating of “Hold” and an average price target of $98.92.
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Molson Coors Brewing Company (NYSE TAP) traded up $0.50 during midday trading on Tuesday, reaching $80.84. 982,700 shares of the company’s stock traded hands, compared to its average volume of 1,624,753. Molson Coors Brewing Company has a 12-month low of $78.10 and a 12-month high of $102.14. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.54 and a current ratio of 0.69. The stock has a market cap of $17,305.23, a PE ratio of 19.04, a price-to-earnings-growth ratio of 2.36 and a beta of 0.86.
Molson Coors Brewing (NYSE:TAP) last announced its earnings results on Wednesday, November 1st. The company reported $1.34 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.34. The company had revenue of $2.88 billion for the quarter, compared to analyst estimates of $2.97 billion. Molson Coors Brewing had a net margin of 17.04% and a return on equity of 7.54%. Molson Coors Brewing ‘s quarterly revenue was up 204.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.03 earnings per share. equities research analysts expect that Molson Coors Brewing Company will post 4.34 earnings per share for the current fiscal year.
Molson Coors Brewing 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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