36,356 Shares in Molson Coors Brewing Co (TAP) Acquired by Engineers Gate Manager LP

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Engineers Gate Manager LP acquired a new stake in shares of Molson Coors Brewing Co (NYSE:TAP) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 36,356 shares of the company’s stock, valued at approximately $2,236,000.

Several other hedge funds have also recently made changes to their positions in TAP. Fairpointe Capital LLC raised its position in shares of Molson Coors Brewing by 42,908.9% during the 2nd quarter. Fairpointe Capital LLC now owns 1,376,285 shares of the company’s stock valued at $93,643,000 after purchasing an additional 1,373,085 shares during the period. BlackRock Inc. raised its position in shares of Molson Coors Brewing by 10.9% during the 2nd quarter. BlackRock Inc. now owns 13,894,209 shares of the company’s stock valued at $945,363,000 after purchasing an additional 1,367,047 shares during the period. Thompson Siegel & Walmsley LLC bought a new stake in shares of Molson Coors Brewing during the 2nd quarter valued at $66,077,000. Massachusetts Financial Services Co. MA raised its position in shares of Molson Coors Brewing by 59.8% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,027,592 shares of the company’s stock valued at $137,957,000 after purchasing an additional 758,900 shares during the period. Finally, American Century Companies Inc. raised its position in shares of Molson Coors Brewing by 29.1% during the 2nd quarter. American Century Companies Inc. now owns 2,510,468 shares of the company’s stock valued at $170,812,000 after purchasing an additional 565,994 shares during the period. Hedge funds and other institutional investors own 76.76% of the company’s stock.

In other Molson Coors Brewing news, insider Krishnan Anand sold 2,595 shares of Molson Coors Brewing stock in a transaction on Monday, October 1st. The shares were sold at an average price of $61.42, for a total value of $159,384.90. Following the completion of the transaction, the insider now directly owns 49,578 shares of the company’s stock, valued at approximately $3,045,080.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders sold a total of 7,785 shares of company stock valued at $499,512 over the last three months. Corporate insiders own 2.55% of the company’s stock.

Several analysts have recently commented on TAP shares. Guggenheim started coverage on shares of Molson Coors Brewing in a research report on Thursday, September 13th. They set a “neutral” rating and a $66.00 price objective on the stock. Morgan Stanley raised their target price on shares of Molson Coors Brewing from $69.00 to $74.00 and gave the company an “equal weight” rating in a research note on Thursday, August 2nd. Susquehanna Bancshares raised their target price on shares of Molson Coors Brewing from $80.00 to $84.00 and gave the company a “positive” rating in a research note on Thursday, August 2nd. Citigroup cut their target price on shares of Molson Coors Brewing from $78.00 to $72.00 and set a “buy” rating for the company in a research note on Thursday, November 1st. Finally, ValuEngine raised shares of Molson Coors Brewing from a “strong sell” rating to a “sell” rating in a research note on Thursday, November 1st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Molson Coors Brewing presently has an average rating of “Hold” and a consensus target price of $75.36.

TAP opened at $62.65 on Wednesday. The firm has a market cap of $13.62 billion, a P/E ratio of 14.02, a P/E/G ratio of 2.80 and a beta of 0.56. Molson Coors Brewing Co has a fifty-two week low of $55.52 and a fifty-two week high of $85.86. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.64 and a quick ratio of 0.49.

Molson Coors Brewing (NYSE:TAP) last posted its earnings results on Wednesday, October 31st. The company reported $1.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.59 by $0.25. The company had revenue of $2.93 billion during the quarter, compared to analysts’ expectations of $2.92 billion. Molson Coors Brewing had a net margin of 12.05% and a return on equity of 7.58%. Molson Coors Brewing’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period last year, the company posted $1.34 earnings per share. As a group, research analysts predict that Molson Coors Brewing Co will post 4.97 EPS for the current year.

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Molson Coors Brewing Profile

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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