Mackenzie Financial Corp Lowers Stake in Molson Coors Brewing Co (TAP)

Mackenzie Financial Corp lowered its holdings in shares of Molson Coors Brewing Co (NYSE:TAP) by 2.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 228,676 shares of the company’s stock after selling 6,821 shares during the quarter. Mackenzie Financial Corp owned approximately 0.11% of Molson Coors Brewing worth $18,669,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Baker Ellis Asset Management LLC increased its holdings in Molson Coors Brewing by 4.9% in the 3rd quarter. Baker Ellis Asset Management LLC now owns 35,086 shares of the company’s stock worth $2,864,000 after acquiring an additional 1,650 shares in the last quarter. State of New Jersey Common Pension Fund D purchased a new stake in Molson Coors Brewing in the 3rd quarter worth approximately $24,492,000. Strs Ohio increased its holdings in Molson Coors Brewing by 6.4% in the 3rd quarter. Strs Ohio now owns 605,977 shares of the company’s stock worth $49,471,000 after acquiring an additional 36,604 shares in the last quarter. Toronto Dominion Bank increased its holdings in Molson Coors Brewing by 16.1% in the 3rd quarter. Toronto Dominion Bank now owns 72,691 shares of the company’s stock worth $5,934,000 after acquiring an additional 10,087 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in Molson Coors Brewing by 26.3% in the 2nd quarter. Wells Fargo & Company MN now owns 2,581,382 shares of the company’s stock worth $222,877,000 after acquiring an additional 537,767 shares in the last quarter. 77.67% of the stock is owned by hedge funds and other institutional investors.

Shares of Molson Coors Brewing Co (NYSE TAP) traded up $0.04 on Friday, reaching $82.07. 798,746 shares of the company’s stock were exchanged, compared to its average volume of 1,104,236. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.54 and a current ratio of 0.69. Molson Coors Brewing Co has a twelve month low of $76.25 and a twelve month high of $102.14. The stock has a market cap of $17,669.26, a price-to-earnings ratio of 7.92, a P/E/G ratio of 2.40 and a beta of 0.83.

Molson Coors Brewing (NYSE:TAP) last announced its quarterly earnings data on Wednesday, November 1st. The company reported $1.34 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $1.34. The business had revenue of $2.88 billion during 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%. The company’s revenue was up 204.3% on a year-over-year basis. During the same period last year, the firm posted $1.03 EPS. equities research analysts expect that Molson Coors Brewing Co will post 4.35 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Thursday, November 30th were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Wednesday, November 29th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.00%. Molson Coors Brewing’s dividend payout ratio is currently 15.83%.

TAP has been the subject of several analyst reports. Stifel Nicolaus reissued a “buy” rating and issued a $116.00 target price on shares of Molson Coors Brewing in a report on Friday, December 22nd. Citigroup reduced their target price 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. Susquehanna Bancshares reissued a “buy” rating on shares of Molson Coors Brewing in a report on Wednesday, October 11th. 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 target price for the company. Finally, Berenberg Bank initiated coverage on shares of Molson Coors Brewing in a report on Wednesday, September 13th. They issued a “sell” rating and a $78.00 target price for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Molson Coors Brewing currently has an average rating of “Hold” and a consensus target price of $98.47.

In other news, CFO Tracey Joubert sold 1,000 shares of the stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $79.15, for a total transaction of $79,150.00. Following the completion of the transaction, the chief financial officer now directly owns 22,839 shares in the company, valued at approximately $1,807,706.85. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.76% of the stock is currently owned by corporate insiders.

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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.

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

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