Cribstone Capital Management LLC lowered its position in shares of Molson Coors Brewing Co (NYSE:TAP) by 78.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,828 shares of the company’s stock after selling 6,731 shares during the quarter. Cribstone Capital Management LLC’s holdings in Molson Coors Brewing were worth $109,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in TAP. Acima Private Wealth LLC acquired a new position in shares of Molson Coors Brewing during the fourth quarter worth about $25,000. Wakefield Asset Management LLLP acquired a new position in shares of Molson Coors Brewing during the fourth quarter worth about $26,000. Pinnacle Bank acquired a new position in shares of Molson Coors Brewing during the fourth quarter worth about $34,000. North Star Investment Management Corp. boosted its position in shares of Molson Coors Brewing by 168.8% during the first quarter. North Star Investment Management Corp. now owns 637 shares of the company’s stock worth $38,000 after buying an additional 400 shares during the period. Finally, Financial Gravity Companies Inc. acquired a new position in shares of Molson Coors Brewing during the fourth quarter worth about $60,000. Institutional investors own 76.41% of the company’s stock.
In other Molson Coors Brewing news, CEO Simon Cox sold 9,497 shares of Molson Coors Brewing 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 sale was disclosed in a filing with the SEC, which is available through this hyperlink. 2.48% of the stock is currently owned by insiders.
Molson Coors Brewing (NYSE:TAP) last released its quarterly earnings data on Wednesday, May 1st. The company reported $0.52 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.05). The firm had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.33 billion. Molson Coors Brewing had a net margin of 8.37% and a return on equity of 7.89%. The company’s revenue was down 1.2% compared to the same quarter last year. During the same period last year, the business earned $0.48 EPS. On average, analysts forecast that Molson Coors Brewing Co will post 4.62 earnings per share for the current fiscal year.
Several research analysts recently commented 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 reissued a “sell” rating on shares of Molson Coors Brewing in a research report on Tuesday, February 12th. BMO Capital Markets dropped their price objective on 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. Citigroup lowered their target price on 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. Finally, Deutsche Bank lowered Molson Coors Brewing from a “buy” rating to a “hold” rating and lowered their price objective for the stock 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 five have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $69.91.
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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