TFS Capital LLC Acquires New Stake in Molson Coors Brewing Co (TAP)

TFS Capital LLC acquired a new position in shares of Molson Coors Brewing Co (NYSE:TAP) during the first quarter, Holdings Channel reports. The institutional investor acquired 4,777 shares of the company’s stock, valued at approximately $457,000.

Several other large investors have also recently made changes to their positions in TAP. Commonwealth Bank of Australia increased its position in Molson Coors Brewing by 2.1% in the third quarter. Commonwealth Bank of Australia now owns 9,664 shares of the company’s stock worth $1,062,000 after buying an additional 200 shares during the period. Nomura Asset Management Co. Ltd. increased its position in Molson Coors Brewing by 4.2% in the third quarter. Nomura Asset Management Co. Ltd. now owns 22,789 shares of the company’s stock worth $2,502,000 after buying an additional 920 shares during the period. Stephens Inc. AR increased its position in Molson Coors Brewing by 14.5% in the third quarter. Stephens Inc. AR now owns 3,369 shares of the company’s stock worth $370,000 after buying an additional 427 shares during the period. Americafirst Capital Management LLC bought a new position in Molson Coors Brewing during the third quarter worth approximately $1,813,000. Finally, Pictet North America Advisors SA increased its position in Molson Coors Brewing by 1.7% in the third quarter. Pictet North America Advisors SA now owns 12,150 shares of the company’s stock worth $1,334,000 after buying an additional 200 shares during the period. 80.12% of the stock is currently owned by institutional investors.

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

Shares of Molson Coors Brewing Co (NYSE:TAP) traded up 1.74% during mid-day trading on Friday, reaching $94.13. 1,968,849 shares of the company were exchanged. The firm has a market capitalization of $20.26 billion, a price-to-earnings ratio of 10.11 and a beta of 0.95. The company’s 50-day moving average is $94.72 and its 200 day moving average is $97.36. Molson Coors Brewing Co has a 12 month low of $89.27 and a 12 month high of $112.19.

Molson Coors Brewing (NYSE:TAP) last posted its quarterly earnings data on Wednesday, May 3rd. The company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $1.31 by $0.55. The company had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.46 billion. Molson Coors Brewing had a return on equity of 7.21% and a net margin of 11.48%. The business’s revenue for the quarter was up 278.7% compared to the same quarter last year. During the same period in the previous year, the company earned $0.54 EPS. Analysts predict that Molson Coors Brewing Co will post $6.47 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, June 15th. Investors of record on Wednesday, May 31st will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 1.77%. The ex-dividend date of this dividend is Friday, May 26th. Molson Coors Brewing’s payout ratio is currently 60.74%.

TRADEMARK VIOLATION WARNING: This report was first published by Mideast Time and is owned by of Mideast Time. If you are accessing this report on another site, it was illegally stolen and republished in violation of international copyright laws. The original version of this report can be read at https://www.mideasttime.com/tfs-capital-llc-acquires-new-stake-in-molson-coors-brewing-co-tap/1707938.html.

A number of research analysts recently commented on the stock. Zacks Investment Research raised shares of Molson Coors Brewing from a “strong sell” rating to a “hold” rating in a research report on Monday, February 20th. Susquehanna Bancshares Inc set a $140.00 target price on shares of Molson Coors Brewing and gave the company a “buy” rating in a research report on Monday, March 20th. JPMorgan Chase & Co. assumed coverage on shares of Molson Coors Brewing in a research report on Tuesday, March 21st. They issued a “neutral” rating and a $105.00 target price on the stock. Credit Suisse Group AG assumed coverage on shares of Molson Coors Brewing in a research report on Monday, January 23rd. They issued a “neutral” rating and a $106.00 target price on the stock. They noted that the move was a valuation call. Finally, Cowen and Company reaffirmed an “outperform” rating and issued a $120.00 target price on shares of Molson Coors Brewing in a research report on Monday, March 13th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. Molson Coors Brewing presently has a consensus rating of “Buy” and a consensus price target of $114.47.

In related news, VP Brian Tabolt sold 1,806 shares of the company’s stock in a transaction dated Thursday, March 16th. The shares were sold at an average price of $98.13, for a total value of $177,222.78. Following the completion of the sale, the vice president now owns 4,231 shares of the company’s stock, valued at $415,188.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.53% of the company’s stock.

Molson Coors Brewing Company Profile

Molson Coors Brewing Company (MCBC) is a holding company. The Company operates as a brewer. The Company’s segments include MillerCoors LLC (United States segment), operating in the United States; Molson Coors Canada (Canada segment), operating in Canada; Molson Coors Europe (Europe segment), operating in Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, Republic of Ireland, Romania, Serbia, the United Kingdom and various other European countries; Molson Coors International (Molson Coors International segment), operating in various other countries, and Corporate.

5 Day Chart for NYSE:TAP

Want to see what other hedge funds are holding TAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Molson Coors Brewing Co (NYSE:TAP).

Receive News & Ratings for Molson Coors Brewing Co Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Molson Coors Brewing Co and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply

 
© 2006-2017 Mideast Time.