Sciencast Management LP Cuts Stake in Molson Coors Brewing Company (NYSE:TAP)

Sciencast Management LP cut its stake in Molson Coors Brewing Company (NYSE:TAP) by 53.3% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 4,505 shares of the company’s stock after selling 5,150 shares during the period. Sciencast Management LP’s holdings in Molson Coors Brewing were worth $389,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. FMR LLC lifted its position in Molson Coors Brewing by 3.2% during the 2nd quarter. FMR LLC now owns 18,229,807 shares of the company’s stock worth $1,573,961,000 after buying an additional 562,180 shares in the last quarter. Vanguard Group Inc. lifted its position in Molson Coors Brewing by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 17,735,626 shares of the company’s stock worth $1,531,294,000 after buying an additional 429,859 shares in the last quarter. JPMorgan Chase & Co. lifted its position in Molson Coors Brewing by 33.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 16,058,334 shares of the company’s stock worth $1,386,476,000 after buying an additional 4,001,480 shares in the last quarter. BlackRock Inc. lifted its position in Molson Coors Brewing by 1.9% during the 2nd quarter. BlackRock Inc. now owns 10,875,972 shares of the company’s stock worth $939,033,000 after buying an additional 199,962 shares in the last quarter. Finally, Lazard Asset Management LLC lifted its position in Molson Coors Brewing by 33.0% during the 2nd quarter. Lazard Asset Management LLC now owns 10,538,919 shares of the company’s stock worth $909,928,000 after buying an additional 2,616,561 shares in the last quarter. 78.31% of the stock is owned by hedge funds and other institutional investors.

Molson Coors Brewing (NYSE:TAP) last posted its quarterly earnings results on Wednesday, August 2nd. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by ($0.38). Molson Coors Brewing had a net margin of 19.78% and a return on equity of 7.41%. The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same period last year, the firm earned $1.11 EPS. The business’s revenue for the quarter was down .6% on a year-over-year basis.

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Several equities research analysts have commented on the stock. Cowen and Company reissued a “hold” rating and set a $96.00 price target on shares of Molson Coors Brewing in a research report on Friday, July 14th. Susquehanna Bancshares Inc set a $118.00 price target on shares of Molson Coors Brewing and gave the stock a “buy” rating in a research report on Tuesday, August 29th. Credit Suisse Group set a $96.00 price target on shares of Molson Coors Brewing and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Zacks Investment Research cut shares of Molson Coors Brewing from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. Finally, Berenberg Bank assumed coverage on shares of Molson Coors Brewing in a report on Wednesday, September 13th. They issued a “sell” rating and a $78.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. Molson Coors Brewing has a consensus rating of “Hold” and a consensus price target of $98.80.

In other news, CEO Gavin Hattersley sold 17,215 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $91.90, for a total value of $1,582,058.50. Following the sale, the chief executive officer now owns 99,217 shares of the company’s stock, valued at $9,118,042.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.76% of the company’s stock.

Molson Coors Brewing 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.

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

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