Renaissance Technologies LLC increased its stake in Molson Coors Brewing Company (NYSE:TAP) by 909.0% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 922,200 shares of the company’s stock after buying an additional 830,800 shares during the period. Renaissance Technologies LLC owned 0.43% of Molson Coors Brewing worth $88,264,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. FMR LLC boosted its stake in Molson Coors Brewing by 33.3% in the first quarter. FMR LLC now owns 17,667,627 shares of the company’s stock valued at $1,690,969,000 after buying an additional 4,417,205 shares in the last quarter. Norges Bank acquired a new position in shares of Molson Coors Brewing during the fourth quarter valued at $75,091,000. Vanguard Group Inc. raised its position in shares of Molson Coors Brewing by 3.8% in the first quarter. Vanguard Group Inc. now owns 17,305,767 shares of the company’s stock valued at $1,656,335,000 after buying an additional 630,539 shares during the last quarter. RidgeWorth Capital Management LLC acquired a new position in shares of Molson Coors Brewing during the first quarter valued at $56,012,000. Finally, CI Investments Inc. acquired a new position in shares of Molson Coors Brewing during the first quarter valued at $52,290,000. Institutional investors and hedge funds own 76.38% of the company’s stock.
Molson Coors Brewing Company (NYSE TAP) traded up 0.13% during midday trading on Tuesday, reaching $87.62. 665,047 shares of the company’s stock were exchanged. The company has a 50 day moving average price of $88.51 and a 200 day moving average price of $94.45. The company has a market cap of $18.86 billion, a P/E ratio of 9.41 and a beta of 0.91. Molson Coors Brewing Company has a 12 month low of $85.34 and a 12 month high of $112.19.
Molson Coors Brewing (NYSE:TAP) last posted its quarterly earnings data on Wednesday, May 3rd. The company reported $0.76 earnings per share for the quarter, missing the consensus estimate of $1.31 by $0.55. The firm had revenue of $2.49 billion for the quarter, compared to the consensus estimate of $2.46 billion. Molson Coors Brewing had a return on equity of 6.73% and a net margin of 23.53%. The firm’s quarterly revenue was up 278.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.54 EPS. On average, equities analysts anticipate that Molson Coors Brewing Company will post $6.49 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 1.87%. The ex-dividend date of this dividend is Tuesday, August 29th. Molson Coors Brewing ‘s payout ratio is 17.60%.
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Several equities analysts recently weighed in on TAP shares. Susquehanna Bancshares Inc set a $140.00 price objective on shares of Molson Coors Brewing and gave the company a “buy” rating in a research report on Monday, March 20th. J P Morgan Chase & Co began coverage on shares of Molson Coors Brewing in a research report on Tuesday, March 21st. They issued a “neutral” rating and a $105.00 price target on the stock. Cowen and Company reissued a “market perform” rating and issued a $100.00 price target on shares of Molson Coors Brewing in a research report on Wednesday, May 31st. BidaskClub lowered shares of Molson Coors Brewing from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 22nd. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $111.00 price target on shares of Molson Coors Brewing in a research report on Friday. One analyst has rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. Molson Coors Brewing presently has a consensus rating of “Hold” and a consensus target price of $112.27.
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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