Stone Ridge Asset Management LLC boosted its stake in Molson Coors Brewing Co (NYSE:TAP) by 107.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,495 shares of the company’s stock after acquiring an additional 8,038 shares during the quarter. Stone Ridge Asset Management LLC’s holdings in Molson Coors Brewing were worth $953,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of TAP. Fairpointe Capital LLC lifted its position in Molson Coors Brewing by 42,908.9% in the 2nd quarter. Fairpointe Capital LLC now owns 1,376,285 shares of the company’s stock valued at $93,643,000 after acquiring an additional 1,373,085 shares in the last quarter. BlackRock Inc. lifted its position in Molson Coors Brewing by 10.9% in the 2nd quarter. BlackRock Inc. now owns 13,894,209 shares of the company’s stock valued at $945,363,000 after acquiring an additional 1,367,047 shares in the last quarter. Thompson Siegel & Walmsley LLC bought a new stake in Molson Coors Brewing in the 2nd quarter valued at $66,077,000. Massachusetts Financial Services Co. MA lifted its position in Molson Coors Brewing by 59.8% in 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 acquiring an additional 758,900 shares in the last quarter. Finally, Becker Capital Management Inc. bought a new stake in Molson Coors Brewing in the 3rd quarter valued at $35,603,000. 76.80% of the stock is currently owned by institutional investors and hedge funds.
In other news, insider Krishnan Anand sold 2,595 shares of the business’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $61.42, for a total transaction of $159,384.90. Following the transaction, the insider now directly owns 49,578 shares in the company, valued at approximately $3,045,080.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 7,785 shares of company stock worth $499,512 over the last 90 days. 2.55% of the stock is owned by company insiders.
Molson Coors Brewing stock opened at $64.74 on Friday. The stock has a market cap of $13.97 billion, a PE ratio of 13.43, a PEG ratio of 2.87 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 current ratio of 0.64, a quick ratio of 0.49 and a debt-to-equity ratio of 0.64.
Molson Coors Brewing (NYSE:TAP) last released its quarterly earnings data on Wednesday, October 31st. The company reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.25. The company had revenue of $2.93 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the previous year, the business earned $1.34 EPS. Research analysts expect that Molson Coors Brewing Co will post 4.97 EPS for the current fiscal year.
COPYRIGHT VIOLATION WARNING: This news story was first published by Week Herald and is owned by of Week Herald. If you are accessing this news story on another website, it was illegally copied and reposted in violation of U.S. & international copyright and trademark legislation. The original version of this news story can be accessed at https://weekherald.com/2018/11/17/stone-ridge-asset-management-llc-boosts-position-in-molson-coors-brewing-co-tap.html.
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.
See Also: What are earnings reports?
Receive News & Ratings for Molson Coors Brewing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Molson Coors Brewing and related companies with MarketBeat.com's FREE daily email newsletter.