Molson Coors Brewing Co (NYSE:TAP) Position Boosted by DNB Asset Management AS

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DNB Asset Management AS grew its holdings in shares of Molson Coors Brewing Co (NYSE:TAP) by 3.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,969 shares of the company’s stock after purchasing an additional 1,412 shares during the period. DNB Asset Management AS’s holdings in Molson Coors Brewing were worth $2,586,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. Ossiam bought a new position in shares of Molson Coors Brewing during the 2nd quarter valued at about $31,000. Capital Bank & Trust Co bought a new position in shares of Molson Coors Brewing during the 2nd quarter valued at about $39,000. Coastal Investment Advisors Inc. boosted its position in shares of Molson Coors Brewing by 62.5% during the 2nd quarter. Coastal Investment Advisors Inc. now owns 762 shares of the company’s stock valued at $44,000 after purchasing an additional 293 shares in the last quarter. First Mercantile Trust Co. bought a new position in shares of Molson Coors Brewing during the 2nd quarter valued at about $49,000. Finally, CSat Investment Advisory L.P. boosted its position in shares of Molson Coors Brewing by 131.7% during the 2nd quarter. CSat Investment Advisory L.P. now owns 1,008 shares of the company’s stock valued at $57,000 after purchasing an additional 573 shares in the last quarter. Institutional investors own 76.28% of the company’s stock.

Shares of TAP opened at $56.98 on Friday. Molson Coors Brewing Co has a one year low of $49.92 and a one year high of $67.62. The company has a 50-day moving average of $55.50 and a two-hundred day moving average of $56.30. The stock has a market cap of $12.33 billion, a price-to-earnings ratio of 11.31, a PEG ratio of 2.40 and a beta of 0.78. The company has a debt-to-equity ratio of 0.60, a current ratio of 0.64 and a quick ratio of 0.47.

Molson Coors Brewing (NYSE:TAP) last announced its earnings results on Wednesday, July 31st. The company reported $1.52 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.13). Molson Coors Brewing had a return on equity of 7.33% and a net margin of 6.85%. The firm had revenue of $2.95 billion during the quarter, compared to analyst estimates of $3.03 billion. During the same quarter in the previous year, the business earned $1.88 earnings per share. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. Analysts anticipate that Molson Coors Brewing Co will post 4.35 earnings per share for the current year.

Several research firms have recently weighed in on TAP. ValuEngine upgraded shares of Molson Coors Brewing from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. BMO Capital Markets raised their price objective on shares of Molson Coors Brewing to $65.00 in a research report on Thursday, August 1st. MKM Partners initiated coverage on shares of Molson Coors Brewing in a research report on Thursday, September 19th. They set a “buy” rating and a $66.00 price objective for the company. Redburn Partners reiterated a “sell” rating on shares of Molson Coors Brewing in a report on Friday, October 11th. Finally, Bank of America cut shares of Molson Coors Brewing from a “buy” rating to an “underperform” rating in a report on Monday, July 15th. Six analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $63.60.

In other news, VP Brian Tabolt sold 1,825 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $56.94, for a total value of $103,915.50. Following the completion of the sale, the vice president now directly owns 6,218 shares of the company’s stock, valued at $354,052.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 2.48% of the company’s stock.

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

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