Molson Coors Brewing Co (TAP) Shares Sold by KBC Group NV

KBC Group NV decreased its stake in shares of Molson Coors Brewing Co (NYSE:TAP) by 2.9% in the 4th quarter, Holdings Channel reports. The firm owned 51,188 shares of the company’s stock after selling 1,536 shares during the quarter. KBC Group NV’s holdings in Molson Coors Brewing were worth $4,201,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. California Public Employees Retirement System increased its position in Molson Coors Brewing by 3.4% during the fourth quarter. California Public Employees Retirement System now owns 412,784 shares of the company’s stock worth $33,877,000 after purchasing an additional 13,700 shares during the last quarter. Crossmark Global Holdings Inc. increased its position in Molson Coors Brewing by 15.2% during the fourth quarter. Crossmark Global Holdings Inc. now owns 11,595 shares of the company’s stock worth $952,000 after purchasing an additional 1,526 shares during the last quarter. Meeder Asset Management Inc. increased its position in Molson Coors Brewing by 143.1% during the fourth quarter. Meeder Asset Management Inc. now owns 4,104 shares of the company’s stock worth $337,000 after purchasing an additional 2,416 shares during the last quarter. Public Employees Retirement Association of Colorado increased its position in Molson Coors Brewing by 5.2% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 35,095 shares of the company’s stock worth $2,880,000 after purchasing an additional 1,738 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in Molson Coors Brewing by 3.2% during the fourth quarter. CIBC Asset Management Inc now owns 30,646 shares of the company’s stock worth $2,515,000 after purchasing an additional 964 shares during the last quarter. 76.90% of the stock is owned by hedge funds and other institutional investors.

Several brokerages recently commented on TAP. 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 price target for the company. Berenberg Bank raised shares of Molson Coors Brewing from a “sell” rating to a “hold” rating and set a $78.00 price target for the company 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 set an “outperform” rating and a $95.00 price target for the company. Citigroup dropped their price target on shares of Molson Coors Brewing from $106.00 to $102.00 and set a “buy” rating for the company in a research report on Friday, November 3rd. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $116.00 price target on shares of Molson Coors Brewing in a research report on Friday, December 22nd. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $96.88.

Shares of Molson Coors Brewing Co (NYSE:TAP) opened at $81.47 on Monday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.54 and a current ratio of 0.64. Molson Coors Brewing Co has a 52 week low of $72.71 and a 52 week high of $102.14. The stock has a market cap of $18,800.00, a P/E ratio of 18.02, a price-to-earnings-growth ratio of 2.19 and a beta of 0.79.

Molson Coors Brewing (NYSE:TAP) last released its quarterly earnings data on Wednesday, February 14th. The company reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.06. Molson Coors Brewing had a net margin of 10.34% and a return on equity of 7.55%. The company had revenue of $2.58 billion during the quarter, compared to the consensus estimate of $2.60 billion. During the same period in the previous year, the firm earned $0.47 earnings per share. Molson Coors Brewing’s revenue for the quarter was up 4.5% on a year-over-year basis. sell-side analysts predict that Molson Coors Brewing Co will post 5.12 EPS for the current year.

In other news, Chairman Peter H. Coors sold 55,603 shares of the company’s stock in a transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Tracey Joubert sold 1,000 shares of the company’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $79.15, for a total transaction of $79,150.00. Following the completion of the transaction, the chief financial officer now owns 22,839 shares of the company’s stock, valued at $1,807,706.85. The disclosure for this sale can be found here. 2.76% of the stock is owned by insiders.

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Molson Coors Brewing Company Profile

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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