Amalgamated Bank Has $1.21 Million Holdings in Molson Coors Brewing Co (NYSE:TAP)

Amalgamated Bank trimmed its position in Molson Coors Brewing Co (NYSE:TAP) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,563 shares of the company’s stock after selling 397 shares during the quarter. Amalgamated Bank’s holdings in Molson Coors Brewing were worth $1,211,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the business. Hayek Kallen Investment Management boosted its holdings in Molson Coors Brewing by 0.4% in the 4th quarter. Hayek Kallen Investment Management now owns 40,287 shares of the company’s stock valued at $2,262,000 after purchasing an additional 164 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in Molson Coors Brewing by 18.3% in the 4th quarter. Quadrant Capital Group LLC now owns 1,255 shares of the company’s stock valued at $66,000 after purchasing an additional 194 shares during the last quarter. E&G Advisors LP boosted its holdings in Molson Coors Brewing by 7.5% in the 4th quarter. E&G Advisors LP now owns 4,300 shares of the company’s stock valued at $241,000 after purchasing an additional 300 shares during the last quarter. Castle Rock Wealth Management LLC boosted its holdings in Molson Coors Brewing by 5.3% in the 4th quarter. Castle Rock Wealth Management LLC now owns 6,326 shares of the company’s stock valued at $421,000 after purchasing an additional 317 shares during the last quarter. Finally, Wetherby Asset Management Inc. boosted its holdings in Molson Coors Brewing by 10.6% in the 4th quarter. Wetherby Asset Management Inc. now owns 3,966 shares of the company’s stock valued at $223,000 after purchasing an additional 379 shares during the last quarter. Institutional investors own 76.34% of the company’s stock.

In related news, CEO Simon Cox sold 9,497 shares of the company’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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.55% of the stock is owned by corporate insiders.

TAP traded up $1.03 during trading hours on Friday, hitting $63.83. 1,237,331 shares of the company’s stock were exchanged, compared to its average volume of 1,703,092. Molson Coors Brewing Co has a 12-month low of $54.17 and a 12-month high of $72.88. The company has a market cap of $13.68 billion, a P/E ratio of 12.66, a PEG ratio of 3.58 and a beta of 0.77. The company has a quick ratio of 0.51, a current ratio of 0.64 and a debt-to-equity ratio of 0.65.

Molson Coors Brewing (NYSE:TAP) last announced its earnings results on Tuesday, February 12th. The company reported $0.84 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.53 billion. During the same period in the prior year, the firm earned $0.62 EPS. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. Research analysts forecast that Molson Coors Brewing Co will post 4.63 earnings per share for the current year.

A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Molson Coors Brewing from a “sell” rating to a “hold” rating in a research note on Wednesday, April 17th. Jefferies Financial Group reissued a “sell” rating on shares of Molson Coors Brewing in a research note on Tuesday, February 12th. Citigroup reduced their price target on shares of Molson Coors Brewing from $72.00 to $69.00 and set a “buy” rating on the stock in a research note on Thursday, February 14th. BMO Capital Markets reduced their price target on shares of Molson Coors Brewing from $85.00 to $80.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 13th. Finally, Deutsche Bank downgraded shares of Molson Coors Brewing from a “buy” rating to a “hold” rating and reduced their price target for the company from $72.00 to $63.00 in a research note on Tuesday, February 12th. Two equities 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 company. The stock currently has a consensus rating of “Hold” and a consensus price target of $70.25.

ILLEGAL ACTIVITY WARNING: This piece of content was posted by Baseball Daily News and is the sole property of of Baseball Daily News. If you are viewing this piece of content on another publication, it was stolen and republished in violation of US & international copyright & trademark law. The original version of this piece of content can be viewed at https://www.baseballdailydigest.com/news/2019/04/26/amalgamated-bank-has-1-21-million-position-in-molson-coors-brewing-co-tap.html.

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.

Featured Article: Catch-Up Contributions

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

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.