Cetera Advisors LLC purchased a new position in Molson Coors Brewing Co (NYSE:TAP) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 4,411 shares of the company’s stock, valued at approximately $250,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TAP. First Allied Advisory Services Inc. bought a new position in Molson Coors Brewing in the fourth quarter worth approximately $700,000. Wakefield Asset Management LLLP acquired a new position in shares of Molson Coors Brewing during the fourth quarter worth $26,000. National Pension Service increased its position in shares of Molson Coors Brewing by 4.7% during the fourth quarter. National Pension Service now owns 230,060 shares of the company’s stock worth $13,767,000 after purchasing an additional 10,318 shares in the last quarter. M Holdings Securities Inc. increased its position in shares of Molson Coors Brewing by 25.6% during the fourth quarter. M Holdings Securities Inc. now owns 6,894 shares of the company’s stock worth $387,000 after purchasing an additional 1,405 shares in the last quarter. Finally, Legal & General Group Plc increased its position in shares of Molson Coors Brewing by 3.4% during the fourth quarter. Legal & General Group Plc now owns 824,246 shares of the company’s stock worth $46,285,000 after purchasing an additional 26,933 shares in the last quarter. Institutional investors own 76.34% of the company’s stock.
In other news, CEO Simon Cox sold 9,497 shares of the stock in a transaction dated 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 document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 2.55% of the company’s stock.
Molson Coors Brewing (NYSE:TAP) last posted its quarterly earnings results on Tuesday, February 12th. The company reported $0.84 EPS for the quarter, beating 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 company had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.53 billion. During the same period in the prior year, the company earned $0.62 earnings per share. The firm’s revenue was down 6.2% on a year-over-year basis. As a group, equities research analysts predict that Molson Coors Brewing Co will post 4.63 earnings per share for the current fiscal year.
A number of equities analysts have recently issued reports on TAP shares. Zacks Investment Research raised Molson Coors Brewing from a “sell” rating to a “hold” rating in a research report on Wednesday, April 17th. Jefferies Financial Group reaffirmed a “sell” rating on shares of Molson Coors Brewing in a research report on Tuesday, February 12th. BMO Capital Markets reduced their price target on Molson Coors Brewing from $85.00 to $80.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 13th. Citigroup reduced their price target on Molson Coors Brewing from $72.00 to $69.00 and set a “buy” rating on the stock in a research report on Thursday, February 14th. Finally, Deutsche Bank lowered shares of Molson Coors Brewing from a “buy” rating to a “hold” rating and dropped their price objective for the company from $72.00 to $63.00 in a report on Tuesday, February 12th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and six have assigned a buy rating to the company. Molson Coors Brewing has an average rating of “Hold” and a consensus price target of $70.25.
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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