Greylin Investment Mangement Inc. Purchases 10,830 Shares of Molson Coors Brewing Co (NYSE:TAP)

Greylin Investment Mangement Inc. grew its position in Molson Coors Brewing Co (NYSE:TAP) by 234.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 15,455 shares of the company’s stock after acquiring an additional 10,830 shares during the quarter. Greylin Investment Mangement Inc.’s holdings in Molson Coors Brewing were worth $889,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in TAP. Ossiam bought a new position in shares of Molson Coors Brewing during the 2nd quarter worth approximately $31,000. Capital Bank & Trust Co bought a new position in shares of Molson Coors Brewing during the 2nd quarter worth approximately $39,000. Coastal Investment Advisors Inc. lifted 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 worth $44,000 after buying an additional 293 shares during the period. First Mercantile Trust Co. bought a new position in shares of Molson Coors Brewing during the 2nd quarter worth approximately $49,000. Finally, CSat Investment Advisory L.P. lifted 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 worth $57,000 after buying an additional 573 shares during the period. Institutional investors own 76.26% of the company’s stock.

Several research firms recently commented on TAP. Bryan, Garnier & Co restated a “sell” rating and set a $51.00 target price on shares of Molson Coors Brewing in a research report on Thursday, August 1st. MKM Partners began coverage on Molson Coors Brewing in a research report on Thursday, September 19th. They set a “buy” rating and a $66.00 target price for the company. Bank of America downgraded Molson Coors Brewing from a “buy” rating to an “underperform” rating in a research report on Monday, July 15th. Guggenheim cut their target price on Molson Coors Brewing from $63.00 to $52.00 and set a “neutral” rating for the company in a research report on Thursday, August 1st. Finally, ValuEngine upgraded Molson Coors Brewing from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Six analysts have rated the stock with a sell rating, four have assigned a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $63.60.

In other news, VP Brian Tabolt sold 1,825 shares of Molson Coors Brewing stock in a transaction on Friday, September 13th. The stock was 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 approximately $354,052.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 2.48% of the stock is currently owned by company insiders.

TAP stock traded up $0.57 during midday trading on Friday, reaching $56.29. 37,242 shares of the company’s stock traded hands, compared to its average volume of 1,485,828. The company has a 50-day simple moving average of $54.59 and a two-hundred day simple moving average of $56.42. Molson Coors Brewing Co has a 1-year low of $49.92 and a 1-year high of $67.62. The company has a market cap of $11.97 billion, a price-to-earnings ratio of 11.18, a PEG ratio of 2.33 and a beta of 0.78. The company has a quick ratio of 0.47, a current ratio of 0.64 and a debt-to-equity ratio of 0.60.

Molson Coors Brewing (NYSE:TAP) last released its quarterly earnings results on Wednesday, July 31st. The company reported $1.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.65 by ($0.13). Molson Coors Brewing had a net margin of 6.85% and a return on equity of 7.33%. The business had revenue of $2.95 billion for the quarter, compared to analyst estimates of $3.03 billion. During the same period in the prior year, the business earned $1.88 earnings per share. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. Equities research analysts forecast that Molson Coors Brewing Co will post 4.36 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Friday, August 30th were paid a $0.57 dividend. This is a boost from Molson Coors Brewing’s previous quarterly dividend of $0.41. This represents a $2.28 annualized dividend and a dividend yield of 4.05%. The ex-dividend date was Thursday, August 29th. Molson Coors Brewing’s dividend payout ratio (DPR) is 45.24%.

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

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