Fox Run Management L.L.C. Takes Position in Molson Coors Brewing Co Class B (TAP)

Fox Run Management L.L.C. acquired a new position in shares of Molson Coors Brewing Co Class B (NYSE:TAP) during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 9,222 shares of the company’s stock, valued at approximately $567,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. raised its holdings in shares of Molson Coors Brewing Co Class B by 10.9% during the 2nd quarter. BlackRock Inc. now owns 13,894,209 shares of the company’s stock worth $945,363,000 after acquiring an additional 1,367,047 shares in the last quarter. ARGA Investment Management LP raised its holdings in shares of Molson Coors Brewing Co Class B by 19.7% during the 2nd quarter. ARGA Investment Management LP now owns 23,575 shares of the company’s stock worth $1,604,000 after acquiring an additional 3,875 shares in the last quarter. Intrepid Capital Management Inc. purchased a new stake in shares of Molson Coors Brewing Co Class B during the 2nd quarter worth approximately $730,000. Fairpointe Capital LLC raised its holdings in shares of Molson Coors Brewing Co Class B by 42,908.9% during the 2nd quarter. Fairpointe Capital LLC now owns 1,376,285 shares of the company’s stock worth $93,643,000 after acquiring an additional 1,373,085 shares in the last quarter. Finally, Meridian Investment Counsel Inc. raised its holdings in shares of Molson Coors Brewing Co Class B by 2.2% during the 2nd quarter. Meridian Investment Counsel Inc. now owns 43,498 shares of the company’s stock worth $2,960,000 after acquiring an additional 942 shares in the last quarter. 76.46% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have recently weighed in on TAP shares. Zacks Investment Research raised Molson Coors Brewing Co Class B from a “sell” rating to a “hold” rating in a research report on Saturday, July 7th. Morgan Stanley boosted their target price on Molson Coors Brewing Co Class B from $69.00 to $74.00 and gave the company an “equal weight” rating in a research report on Thursday, August 2nd. Susquehanna Bancshares boosted their target price on Molson Coors Brewing Co Class B from $80.00 to $84.00 and gave the company a “positive” rating in a research report on Thursday, August 2nd. Citigroup cut their target price on Molson Coors Brewing Co Class B from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Monday, August 27th. Finally, Jefferies Financial Group started coverage on Molson Coors Brewing Co Class B in a research report on Friday, September 7th. They set an “underperform” rating and a $55.00 target price on the stock. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and six have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $76.08.

NYSE TAP opened at $61.89 on Monday. The company has a market cap of $13.27 billion, a PE ratio of 13.85, a P/E/G ratio of 2.49 and a beta of 0.73. The company has a debt-to-equity ratio of 0.69, a quick ratio of 0.51 and a current ratio of 0.66. Molson Coors Brewing Co Class B has a fifty-two week low of $58.75 and a fifty-two week high of $85.86.

Molson Coors Brewing Co Class B (NYSE:TAP) last released its earnings results on Wednesday, August 1st. The company reported $1.88 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.83 by $0.05. The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.08 billion. Molson Coors Brewing Co Class B had a return on equity of 6.97% and a net margin of 11.68%. The company’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.70 EPS. On average, equities analysts expect that Molson Coors Brewing Co Class B will post 4.82 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 17th. Shareholders of record on Friday, August 31st were given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.65%. The ex-dividend date was Thursday, August 30th. Molson Coors Brewing Co Class B’s dividend payout ratio (DPR) is presently 36.69%.

In other Molson Coors Brewing Co Class B news, insider Krishnan Anand sold 2,595 shares of the company’s stock in a transaction on Tuesday, September 4th. The stock was sold at an average price of $66.26, for a total value of $171,944.70. Following the transaction, the insider now owns 49,946 shares of the company’s stock, valued at approximately $3,309,421.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold a total of 7,785 shares of company stock worth $499,901 in the last ninety days. 2.55% of the stock is currently owned by corporate insiders.

Molson Coors Brewing Co Class B 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.

See Also: Price to Earnings Ratio (PE), For Valuing Stocks

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Institutional Ownership by Quarter for Molson Coors Brewing Co Class B (NYSE:TAP)

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