BB&T Corp decreased its holdings in shares of Molson Coors Brewing Co (NYSE:TAP) by 52.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,998 shares of the company’s stock after selling 3,333 shares during the quarter. BB&T Corp’s holdings in Molson Coors Brewing were worth $246,000 at the end of the most recent quarter.
Several other hedge funds have also recently made changes to their positions in the business. Dupont Capital Management Corp acquired a new position in shares of Molson Coors Brewing in the 3rd quarter worth approximately $103,000. Krilogy Financial LLC increased its holdings in Molson Coors Brewing by 4,646.4% during the 2nd quarter. Krilogy Financial LLC now owns 1,329 shares of the company’s stock valued at $115,000 after purchasing an additional 1,301 shares in the last quarter. Cerebellum GP LLC acquired a new stake in Molson Coors Brewing during the 4th quarter valued at $129,000. Meeder Asset Management Inc. acquired a new stake in Molson Coors Brewing during the 3rd quarter valued at $138,000. Finally, Advisor Group Inc. increased its holdings in Molson Coors Brewing by 48.9% during the 3rd quarter. Advisor Group Inc. now owns 2,598 shares of the company’s stock valued at $213,000 after purchasing an additional 853 shares in the last quarter. Institutional investors own 76.90% of the company’s stock.
TAP has been the topic of several recent research reports. Susquehanna Bancshares set a $108.00 price target on Molson Coors Brewing and gave the stock a “buy” rating in a research report 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 report on Friday, November 3rd. Citigroup reduced their target price on Molson Coors Brewing from $106.00 to $102.00 and set a “buy” rating on the stock in a report on Friday, November 3rd. Deutsche Bank initiated coverage on Molson Coors Brewing in a report on Wednesday, December 13th. They issued a “buy” rating and a $89.00 price target on the stock. Finally, Stifel Nicolaus restated a “buy” rating and issued a $116.00 price target on shares of Molson Coors Brewing in a report on Friday, December 22nd. Eight research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Molson Coors Brewing has a consensus rating of “Buy” and an average price target of $96.61.
Molson Coors Brewing (NYSE:TAP) last issued its quarterly earnings results on Wednesday, February 14th. The company reported $0.62 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.56 by $0.06. The business 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 7.54% and a net margin of 17.04%. The firm’s revenue for the quarter was up 4.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.47 earnings per share. equities research analysts expect that Molson Coors Brewing Co will post 4.33 EPS for the current year.
In other Molson Coors Brewing 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 directly owns 319,222 shares in the company, valued at $27,137,062.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Tracey Joubert sold 1,000 shares of the company’s stock in a transaction on Friday, December 1st. The stock was 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 $1,807,706.85. The disclosure for this sale can be found here. Insiders own 2.76% of the company’s stock.
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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.
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