Molson Coors Brewing Co (TAP) Shares Bought by Deprince Race & Zollo Inc.

Deprince Race & Zollo Inc. boosted its position in shares of Molson Coors Brewing Co (NYSE:TAP) by 1.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 334,362 shares of the company’s stock after purchasing an additional 5,265 shares during the period. Deprince Race & Zollo Inc. owned about 0.15% of Molson Coors Brewing worth $19,945,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the business. Millennium Management LLC increased its stake 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 during the last quarter. Barrow Hanley Mewhinney & Strauss LLC grew its stake in shares of Molson Coors Brewing by 9.8% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 3,286 shares of the company’s stock worth $185,000 after buying an additional 294 shares during the last quarter. KAMES CAPITAL plc grew its stake in shares of Molson Coors Brewing by 25.0% during the first quarter. KAMES CAPITAL plc now owns 41,317 shares of the company’s stock worth $2,465,000 after buying an additional 8,256 shares during the last quarter. Bowling Portfolio Management LLC acquired a new position in shares of Molson Coors Brewing during the fourth quarter worth $2,727,000. Finally, Standard Life Aberdeen plc lifted its holdings in shares of Molson Coors Brewing by 11.3% during the third quarter. Standard Life Aberdeen plc now owns 797,948 shares of the company’s stock worth $49,078,000 after purchasing an additional 81,014 shares during the period. Hedge funds and other institutional investors own 76.42% of the company’s stock.

TAP has been the topic of a number of recent research reports. Citigroup cut 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 report on Thursday, February 14th. Jefferies Financial Group reiterated a “sell” rating on shares of Molson Coors Brewing in a report on Tuesday, February 12th. Deutsche Bank lowered shares of Molson Coors Brewing from a “buy” rating to a “hold” rating and dropped their target price for the company from $72.00 to $63.00 in a report on Tuesday, February 12th. Zacks Investment Research lowered shares of Molson Coors Brewing from a “hold” rating to a “sell” rating in a report on Wednesday, February 13th. Finally, BMO Capital Markets dropped 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. Two 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. The company has a consensus rating of “Hold” and an average target price of $69.91.

Shares of NYSE:TAP traded up $0.29 during midday trading on Friday, hitting $58.64. 1,285,573 shares of the company’s stock were exchanged, compared to its average volume of 1,676,934. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.56 and a quick ratio of 0.39. The company has a market cap of $12.61 billion, a PE ratio of 11.63, a PEG ratio of 2.82 and a beta of 0.79. Molson Coors Brewing Co has a 12 month low of $54.17 and a 12 month high of $71.04.

Molson Coors Brewing (NYSE:TAP) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $0.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.57 by ($0.05). Molson Coors Brewing had a return on equity of 7.92% and a net margin of 7.46%. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.33 billion. During the same period in the previous year, the company posted $0.48 earnings per share. The company’s revenue for the quarter was down 1.2% on a year-over-year basis. On average, equities research analysts expect that Molson Coors Brewing Co will post 4.63 earnings per share for the current fiscal year.

In related news, CEO Mark Hunter sold 11,287 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $60.06, for a total transaction of $677,897.22. Following the sale, the chief executive officer now directly owns 166,743 shares in the company, valued at approximately $10,014,584.58. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, 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 disclosure for this sale can be found here. Corporate insiders own 2.48% of the company’s stock.

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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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