Metropolitan Life Insurance Co. NY cut its holdings in shares of Molson Coors Brewing Co (NYSE:TAP) by 67.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 28,271 shares of the company’s stock after selling 59,067 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in Molson Coors Brewing were worth $2,320,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also added to or reduced their stakes in the company. Cerebellum GP LLC acquired a new position in Molson Coors Brewing during the 4th quarter valued at about $129,000. Valeo Financial Advisors LLC lifted its position in Molson Coors Brewing by 58.2% during the 4th quarter. Valeo Financial Advisors LLC now owns 1,864 shares of the company’s stock valued at $153,000 after purchasing an additional 686 shares during the period. Dupont Capital Management Corp lifted its position in Molson Coors Brewing by 94.9% during the 4th quarter. Dupont Capital Management Corp now owns 2,468 shares of the company’s stock valued at $203,000 after purchasing an additional 1,202 shares during the period. Advisor Group Inc. lifted its position in Molson Coors Brewing by 48.9% during the 3rd quarter. Advisor Group Inc. now owns 2,598 shares of the company’s stock valued at $213,000 after purchasing an additional 853 shares during the period. Finally, Tower Research Capital LLC TRC lifted its position in Molson Coors Brewing by 1,126.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 2,624 shares of the company’s stock valued at $216,000 after purchasing an additional 2,410 shares during the period. Institutional investors own 77.08% of the company’s stock.
Shares of Molson Coors Brewing stock opened at $72.16 on Friday. The firm has a market cap of $15,554.52, a P/E ratio of 11.22, a P/E/G ratio of 1.61 and a beta of 0.86. 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 Co has a 52-week low of $72.07 and a 52-week high of $97.73.
The business also recently announced a quarterly dividend, which was paid on Thursday, March 15th. Shareholders of record on Monday, March 5th were issued a dividend of $0.41 per share. The ex-dividend date was Friday, March 2nd. This represents a $1.64 annualized dividend and a yield of 2.27%. Molson Coors Brewing’s dividend payout ratio (DPR) is currently 25.51%.
A number of research firms have issued reports on TAP. Zacks Investment Research upgraded shares of Molson Coors Brewing from a “hold” rating to a “buy” rating and set a $92.00 target price on the stock in a research report on Monday, February 19th. Morgan Stanley began coverage on shares of Molson Coors Brewing in a research report on Tuesday, January 9th. They set an “equal weight” rating and a $88.00 target price on the stock. Berenberg Bank upgraded shares of Molson Coors Brewing from a “sell” rating to a “hold” rating and set a $78.00 price target on the stock in a research report on Thursday, February 8th. BMO Capital Markets began coverage on shares of Molson Coors Brewing in a research report on Monday, February 5th. They issued an “outperform” rating and a $95.00 price target on the stock. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $116.00 price target on shares of Molson Coors Brewing in a research report on Friday, December 22nd. Seven investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $96.30.
In other Molson Coors Brewing news, Chairman Peter H. Coors sold 55,603 shares of the firm’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 transaction of $4,726,811.03. Following the sale, the chairman now directly owns 319,222 shares in the company, valued at approximately $27,137,062.22. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 2.76% of the company’s stock.
WARNING: This article was published by Ticker Report and is the property of of Ticker Report. If you are accessing this article on another domain, it was illegally stolen and republished in violation of United States & international copyright legislation. The original version of this article can be read at https://www.tickerreport.com/banking-finance/3299846/metropolitan-life-insurance-co-ny-cuts-holdings-in-molson-coors-brewing-co-tap.html.
Molson Coors Brewing Company Profile
Molson Coors Brewing Company manufactures and sells beer and other beverage products in the United States, Canada, Europe, and internationally. It sells various products under the Coors Light, Miller Lite, Coors Banquet, the Blue Moon Brewing Company brands, the Jacob Leinenkugel Brewing Company brands, Keystone, Icehouse, Mickey's, Miller 64, Miller Genuine Draft, Miller High Life, Milwaukee's Best, Hamm's, Olde English 800, Steel Reserve, Crispin, Smith & Forge, Redd's, the Henry's Hard Soda, and Steel Reserve Alloy Series brands.
Receive News & Ratings for Molson Coors Brewing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Molson Coors Brewing and related companies with MarketBeat.com's FREE daily email newsletter.