Eqis Capital Management Inc. Trims Stake in Molson Coors Brewing Co (TAP)

Eqis Capital Management Inc. decreased its position in Molson Coors Brewing Co (NYSE:TAP) by 52.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,790 shares of the company’s stock after selling 12,106 shares during the quarter. Eqis Capital Management Inc.’s holdings in Molson Coors Brewing were worth $644,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Millennium Management LLC raised its holdings in Molson Coors Brewing by 0.6% in the fourth quarter. Millennium Management LLC now owns 1,087,725 shares of the company’s stock valued at $61,087,000 after acquiring an additional 6,455 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in Molson Coors Brewing by 9.8% in the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,286 shares of the company’s stock valued at $185,000 after acquiring an additional 294 shares in the last quarter. KAMES CAPITAL plc raised its holdings in Molson Coors Brewing by 25.0% in the first quarter. KAMES CAPITAL plc now owns 41,317 shares of the company’s stock valued at $2,465,000 after acquiring an additional 8,256 shares in the last quarter. Bowling Portfolio Management LLC acquired a new stake in Molson Coors Brewing in the fourth quarter valued at approximately $2,727,000. Finally, Standard Life Aberdeen plc raised its holdings in Molson Coors Brewing by 11.3% in the third quarter. Standard Life Aberdeen plc now owns 797,948 shares of the company’s stock valued at $49,078,000 after acquiring an additional 81,014 shares in the last quarter. 76.50% of the stock is currently owned by hedge funds and other institutional investors.

TAP stock opened at $61.40 on Monday. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.64. Molson Coors Brewing Co has a twelve month low of $54.17 and a twelve month high of $73.40. The company has a market cap of $13.27 billion, a price-to-earnings ratio of 12.18, a P/E/G ratio of 3.59 and a beta of 0.77.

Molson Coors Brewing (NYSE:TAP) last released its quarterly earnings data on Tuesday, February 12th. The company reported $0.84 earnings per share 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 company had revenue of $2.42 billion for the quarter, compared to analysts’ expectations of $2.53 billion. During the same quarter last year, the company earned $0.62 earnings per share. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. As a group, analysts predict that Molson Coors Brewing Co will post 4.63 earnings per share for the current year.

Several brokerages recently weighed in on TAP. Jefferies Financial Group reaffirmed a “sell” rating on shares of Molson Coors Brewing in a report on Wednesday, April 10th. Zacks Investment Research cut shares of Molson Coors Brewing from a “hold” rating to a “sell” rating in a report on Wednesday, February 13th. Deutsche Bank cut shares of Molson Coors Brewing from a “buy” rating to a “hold” rating and reduced their target price for the company from $72.00 to $63.00 in a report on Tuesday, February 12th. Citigroup cut their price objective on shares of Molson Coors Brewing from $72.00 to $69.00 and set a “buy” rating on the stock in a report on Thursday, February 14th. Finally, BMO Capital Markets cut their price objective 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. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $70.25.

In other Molson Coors Brewing news, CEO Simon Cox sold 9,497 shares of the firm’s stock in a transaction that occurred on Tuesday, February 19th. The shares were sold at an average price of $60.69, for a total transaction of $576,372.93. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 2.55% of the stock is currently owned by company insiders.

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About Molson Coors Brewing

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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