Cambridge Investment Research Advisors Inc. grew its position in shares of Molson Coors Brewing Co (NYSE:TAP) by 61.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,154 shares of the company’s stock after buying an additional 15,982 shares during the quarter. Cambridge Investment Research Advisors Inc.’s holdings in Molson Coors Brewing were worth $2,272,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently modified their holdings of the business. Amundi Pioneer Asset Management Inc. grew its holdings in Molson Coors Brewing by 19.9% during the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 247,248 shares of the company’s stock valued at $14,749,000 after buying an additional 41,054 shares during the last quarter. DNB Asset Management AS grew its holdings in Molson Coors Brewing by 3.2% during the 3rd quarter. DNB Asset Management AS now owns 44,969 shares of the company’s stock valued at $2,586,000 after buying an additional 1,412 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Molson Coors Brewing by 17.7% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,720 shares of the company’s stock valued at $673,000 after buying an additional 1,765 shares during the last quarter. Assenagon Asset Management S.A. acquired a new stake in Molson Coors Brewing during the 3rd quarter valued at $6,760,000. Finally, Advisor Partners LLC acquired a new stake in Molson Coors Brewing during the 3rd quarter valued at $219,000. 77.83% of the stock is currently owned by hedge funds and other institutional investors.
TAP has been the topic of a number of analyst reports. ValuEngine upgraded Molson Coors Brewing from a “sell” rating to a “hold” rating in a report on Friday, January 3rd. Zacks Investment Research upgraded Molson Coors Brewing from a “sell” rating to a “hold” rating and set a $55.00 target price on the stock in a report on Monday, November 4th. Deutsche Bank lowered their target price on Molson Coors Brewing from $56.00 to $50.00 and set a “hold” rating on the stock in a report on Thursday, October 31st. Morgan Stanley increased their target price on Molson Coors Brewing from $52.00 to $56.00 and gave the company an “equal weight” rating in a report on Tuesday, January 21st. Finally, BMO Capital Markets cut Molson Coors Brewing from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $62.00 to $55.00 in a report on Tuesday, November 26th. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $55.17.
Molson Coors Brewing (NYSE:TAP) last issued its quarterly earnings results on Wednesday, February 12th. The company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.78 by $0.24. Molson Coors Brewing had a return on equity of 6.86% and a net margin of 1.19%. The company had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.48 billion. During the same quarter in the prior year, the company posted $0.84 EPS. The business’s revenue for the quarter was up 2.8% compared to the same quarter last year. Equities research analysts anticipate that Molson Coors Brewing Co will post 4.28 EPS for the current year.
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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