Intrepid Capital Management Inc. lifted its position in shares of Molson Coors Brewing Co (NYSE:TAP) by 75.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,741 shares of the company’s stock after purchasing an additional 7,201 shares during the period. Intrepid Capital Management Inc.’s holdings in Molson Coors Brewing were worth $999,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Baker Ellis Asset Management LLC lifted its position in shares of Molson Coors Brewing by 0.4% during the first quarter. Baker Ellis Asset Management LLC now owns 40,606 shares of the company’s stock valued at $2,422,000 after purchasing an additional 180 shares in the last quarter. MML Investors Services LLC raised its position in Molson Coors Brewing by 3.4% in the first quarter. MML Investors Services LLC now owns 5,757 shares of the company’s stock worth $343,000 after acquiring an additional 191 shares during the period. Meridian Investment Counsel Inc. raised its position in Molson Coors Brewing by 0.5% in the first quarter. Meridian Investment Counsel Inc. now owns 42,689 shares of the company’s stock worth $2,546,000 after acquiring an additional 199 shares during the period. Bbva Compass Bancshares Inc. raised its position in Molson Coors Brewing by 4.3% in the first quarter. Bbva Compass Bancshares Inc. now owns 5,598 shares of the company’s stock worth $334,000 after acquiring an additional 229 shares during the period. Finally, Signaturefd LLC raised its position in Molson Coors Brewing by 29.6% in the first quarter. Signaturefd LLC now owns 1,203 shares of the company’s stock worth $72,000 after acquiring an additional 275 shares during the period. 77.63% of the stock is currently owned by institutional investors.
Several analysts have commented on the stock. Zacks Investment Research raised shares of Molson Coors Brewing from a “sell” rating to a “hold” rating in a research report on Wednesday, April 17th. Citigroup lowered their price objective on shares of Molson Coors Brewing from $72.00 to $69.00 and set a “buy” rating on the stock in a research report on Thursday, February 14th. Jefferies Financial Group reaffirmed a “sell” rating on shares of Molson Coors Brewing in a research report on Wednesday, April 10th. Finally, Credit Suisse Group assumed coverage on shares of Molson Coors Brewing in a research report on Monday. They issued an “underperform” rating and a $50.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and five have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $68.55.
Shares of TAP traded down $0.34 during trading hours on Friday, hitting $54.77. The company’s stock had a trading volume of 27,600 shares, compared to its average volume of 1,567,817. The company has a market capitalization of $11.97 billion, a price-to-earnings ratio of 10.94, a PEG ratio of 2.65 and a beta of 0.86. The company has a quick ratio of 0.39, a current ratio of 0.56 and a debt-to-equity ratio of 0.61. Molson Coors Brewing Co has a 52-week low of $53.41 and a 52-week high of $71.04.
Molson Coors Brewing (NYSE:TAP) last posted its earnings results on Wednesday, May 1st. The company reported $0.52 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.05). The business had revenue of $2.30 billion during the quarter, compared to analysts’ expectations of $2.33 billion. Molson Coors Brewing had a return on equity of 7.92% and a net margin of 7.46%. Molson Coors Brewing’s revenue for the quarter was down 1.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.48 EPS. On average, sell-side analysts expect that Molson Coors Brewing Co will post 4.63 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 14th. Stockholders of record on Monday, June 3rd will be paid a $0.41 dividend. The ex-dividend date of this dividend is Friday, May 31st. This represents a $1.64 annualized dividend and a dividend yield of 2.99%. Molson Coors Brewing’s payout ratio is 32.54%.
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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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