Crestline Management LP Takes $1.23 Million Position in Molson Coors Brewing Co (TAP)

Crestline Management LP acquired a new stake in shares of Molson Coors Brewing Co (NYSE:TAP) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 15,000 shares of the company’s stock, valued at approximately $1,231,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in TAP. BlackRock Inc. increased its holdings in Molson Coors Brewing by 3.4% during the fourth quarter. BlackRock Inc. now owns 11,435,122 shares of the company’s stock valued at $938,480,000 after buying an additional 380,133 shares during the last quarter. Independent Franchise Partners LLP increased its holdings in Molson Coors Brewing by 41.3% during the fourth quarter. Independent Franchise Partners LLP now owns 8,707,547 shares of the company’s stock valued at $714,628,000 after buying an additional 2,546,533 shares during the last quarter. Maverick Capital Ltd. increased its holdings in Molson Coors Brewing by 65.2% during the fourth quarter. Maverick Capital Ltd. now owns 3,727,466 shares of the company’s stock valued at $305,913,000 after buying an additional 1,471,573 shares during the last quarter. Wells Fargo & Company MN increased its holdings in Molson Coors Brewing by 12.9% during the fourth quarter. Wells Fargo & Company MN now owns 3,595,387 shares of the company’s stock valued at $295,074,000 after buying an additional 410,058 shares during the last quarter. Finally, Epoch Investment Partners Inc. increased its holdings in Molson Coors Brewing by 852.1% during the third quarter. Epoch Investment Partners Inc. now owns 2,428,882 shares of the company’s stock valued at $198,294,000 after buying an additional 2,173,761 shares during the last quarter. 77.09% of the stock is owned by hedge funds and other institutional investors.

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Molson Coors Brewing Co (TAP) opened at $81.41 on Friday. The firm has a market cap of $17,550.00, a P/E ratio of 18.01, a price-to-earnings-growth ratio of 1.79 and a beta of 0.86. Molson Coors Brewing Co has a 12-month low of $72.71 and a 12-month high of $99.65. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.64 and a quick ratio of 0.47.

Molson Coors Brewing (NYSE:TAP) last posted its quarterly earnings results on Wednesday, February 14th. The company reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.56 by $0.06. The business had revenue of $2.58 billion during the quarter, compared to analyst estimates of $2.60 billion. Molson Coors Brewing had a net margin of 10.34% and a return on equity of 7.55%. The company’s revenue was up 4.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.47 earnings per share. sell-side analysts anticipate that Molson Coors Brewing Co will post 5.16 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Monday, March 5th were given a $0.41 dividend. The ex-dividend date was Friday, March 2nd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.01%. Molson Coors Brewing’s payout ratio is currently 36.28%.

In other Molson Coors Brewing news, Chairman Peter H. Coors sold 55,603 shares of the company’s stock in a transaction that occurred on Wednesday, January 17th. The shares were sold at an average price of $85.01, for a total value of $4,726,811.03. Following the completion of the transaction, the chairman now directly owns 319,222 shares in the company, valued at $27,137,062.22. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.76% of the company’s stock.

TAP has been the subject of a number of research reports. Zacks Investment Research raised shares of Molson Coors Brewing from a “hold” rating to a “buy” rating and set a $92.00 target price for the company in a report on Monday, February 19th. Stifel Nicolaus reaffirmed a “buy” rating and set a $112.00 target price on shares of Molson Coors Brewing in a report on Friday, February 2nd. Susquehanna Bancshares set a $107.00 target price on shares of Molson Coors Brewing and gave the company a “buy” rating in a report on Monday, February 12th. Deutsche Bank initiated coverage on shares of Molson Coors Brewing in a report on Wednesday, December 13th. They set a “buy” rating and a $89.00 target price for the company. Finally, Morgan Stanley initiated coverage on shares of Molson Coors Brewing in a report on Tuesday, January 9th. They set an “equal weight” rating and a $88.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Molson Coors Brewing currently has a consensus rating of “Buy” and an average price target of $96.88.

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About Molson Coors Brewing

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.

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

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