First Allied Advisory Services Inc. Acquires Shares of 12,542 Molson Coors Brewing Co (NYSE:TAP)

First Allied Advisory Services Inc. acquired a new position in shares of Molson Coors Brewing Co (NYSE:TAP) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 12,542 shares of the company’s stock, valued at approximately $700,000.

Several other hedge funds have also made changes to their positions in TAP. PNC Financial Services Group Inc. raised its position in Molson Coors Brewing by 49.4% during the 3rd quarter. PNC Financial Services Group Inc. now owns 38,285 shares of the company’s stock valued at $2,356,000 after purchasing an additional 12,665 shares during the last quarter. BlackRock Inc. lifted its stake in Molson Coors Brewing by 1.5% in the third quarter. BlackRock Inc. now owns 14,104,797 shares of the company’s stock worth $867,444,000 after purchasing an additional 210,588 shares during the last quarter. American International Group Inc. raised its stake in shares of Molson Coors Brewing by 8.0% during the third quarter. American International Group Inc. now owns 67,533 shares of the company’s stock valued at $4,153,000 after acquiring an additional 5,011 shares in the last quarter. CIBC World Markets Inc. raised its stake in Molson Coors Brewing by 45.1% in the third quarter. CIBC World Markets Inc. now owns 31,835 shares of the company’s stock worth $1,958,000 after buying an additional 9,901 shares in the last quarter. Finally, Schroder Investment Management Group purchased a new position in Molson Coors Brewing in the third quarter worth $852,000. Institutional investors and hedge funds own 76.51% of the company’s stock.

Several equities research analysts have commented on TAP shares. Morgan Stanley set a $68.00 price target on shares of Molson Coors Brewing and gave the company a “hold” rating in a report on Thursday, December 20th. Jefferies Financial Group reissued a “sell” rating on shares of Molson Coors Brewing in a research note on Tuesday, February 12th. BMO Capital Markets reduced their target price on shares of Molson Coors Brewing from $85.00 to $80.00 and set an “outperform” rating on the stock in a report on Wednesday, February 13th. Citigroup cut their price objective on shares of Molson Coors Brewing from $72.00 to $69.00 and set a “buy” rating for the company in a research report on Thursday, February 14th. Finally, Deutsche Bank downgraded shares of Molson Coors Brewing from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $72.00 to $63.00 in a research note on Tuesday, February 12th. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $71.23.

TAP stock traded up $0.47 during mid-day trading on Monday, reaching $60.45. 990,400 shares of the stock traded hands, compared to its average volume of 1,716,374. The company has a current ratio of 0.64, a quick ratio of 0.51 and a debt-to-equity ratio of 0.65. Molson Coors Brewing Co has a 52-week low of $54.17 and a 52-week high of $73.93. The firm has a market capitalization of $12.97 billion, a PE ratio of 11.99, a P/E/G ratio of 3.51 and a beta of 0.77.

Molson Coors Brewing (NYSE:TAP) last posted its quarterly earnings results on Tuesday, February 12th. The company reported $0.84 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.78 by $0.06. Molson Coors Brewing had a net margin of 8.37% and a return on equity of 7.89%. The business had revenue of $2.42 billion during the quarter, compared to analyst estimates of $2.53 billion. During the same period in the prior year, the firm earned $0.62 earnings per share. The firm’s revenue was down 6.2% compared to the same quarter last year. On average, equities research analysts anticipate that Molson Coors Brewing Co will post 4.63 earnings per share for the current year.

In other news, CEO Simon Cox sold 9,497 shares of the business’s stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $60.69, for a total transaction of $576,372.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.55% of the stock is owned by company insiders.

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Molson Coors Brewing Profile

Molson Coors Brewing Company manufactures, markets, and sells beer and other malt beverage products in the United States, Canada, Europe, and internationally. The company sells various products under the Blue Moon, Coors Banquet, Coors Light, Miller Genuine Draft, Miller Lite, Hamm's, Icehouse, Keystone, Mickey's, Miller64, Miller High Life, Milwaukee's Best, Olde English, Steel Reserve, Grolsch, Hop Valley, Leinenkugel's, Peroni Nastro Azurro, Pilsner Urquell, Revolver, Saint Archer, Sol, Terrapin, Crispin, Smith & Forge, Arnold Palmer Spiked, Henry's Hard, Redd's, and Steel Reserve Alloy Series brands.

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

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