Piedmont Investment Advisors Inc. grew its holdings in shares of Molson Coors Brewing Co (NYSE:TAP) by 1.2% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 63,520 shares of the company’s stock after acquiring an additional 740 shares during the quarter. Piedmont Investment Advisors Inc.’s holdings in Molson Coors Brewing were worth $3,789,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Acima Private Wealth LLC acquired a new position in Molson Coors Brewing during the fourth quarter worth about $25,000. Wakefield Asset Management LLLP bought a new stake in shares of Molson Coors Brewing during the fourth quarter worth about $26,000. Pinnacle Bank bought a new stake in shares of Molson Coors Brewing during the fourth quarter worth about $34,000. Massey Quick Simon & CO. LLC bought a new stake in shares of Molson Coors Brewing during the first quarter worth about $36,000. Finally, Investors Research Corp bought a new stake in shares of Molson Coors Brewing during the first quarter worth about $36,000. 77.22% of the stock is owned by hedge funds and other institutional investors.
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 stock was sold at an average price of $60.06, for a total value of $677,897.22. Following the sale, the chief executive officer now directly owns 166,743 shares in the company, valued at $10,014,584.58. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.48% of the company’s stock.
Shares of TAP stock opened at $59.42 on Friday. Molson Coors Brewing Co has a one year low of $54.17 and a one year high of $71.04. The company has a market capitalization of $12.70 billion, a P/E ratio of 11.79, a P/E/G ratio of 2.84 and a beta of 0.79. The company has a current ratio of 0.56, a quick ratio of 0.39 and a debt-to-equity ratio of 0.61.
Molson Coors Brewing (NYSE:TAP) last announced its earnings results on Wednesday, May 1st. The company reported $0.52 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.57 by ($0.05). Molson Coors Brewing had a net margin of 7.46% and a return on equity of 7.92%. The company had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.33 billion. During the same quarter in the previous year, the company earned $0.48 earnings per share. The business’s revenue was down 1.2% on a year-over-year basis. As a group, sell-side analysts anticipate that Molson Coors Brewing Co will post 4.63 EPS for the current fiscal year.
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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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