Skandinaviska Enskilda Banken AB publ reduced its position in shares of Molson Coors Brewing Company (NYSE:TAP) by 0.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,361 shares of the company’s stock after selling 66 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Molson Coors Brewing were worth $800,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of TAP. FMR LLC boosted its position in Molson Coors Brewing by 33.3% in the first quarter. FMR LLC now owns 17,667,627 shares of the company’s stock worth $1,690,969,000 after buying an additional 4,417,205 shares during the period. Vanguard Group Inc. boosted its stake 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. BlackRock Inc. boosted its stake in shares of Molson Coors Brewing by 3,905.7% in the first quarter. BlackRock Inc. now owns 10,676,010 shares of the company’s stock valued at $1,021,799,000 after buying an additional 10,409,488 shares during the last quarter. Lazard Asset Management LLC boosted its stake in Molson Coors Brewing by 1.3% in the first quarter. Lazard Asset Management LLC now owns 7,922,358 shares of the company’s stock worth $758,247,000 after buying an additional 99,486 shares in the last quarter. Finally, State Street Corp boosted its stake in Molson Coors Brewing by 1.7% in the first quarter. State Street Corp now owns 7,685,254 shares of the company’s stock worth $735,565,000 after buying an additional 130,584 shares in the last quarter. Institutional investors own 76.38% of the company’s stock.
Shares of Molson Coors Brewing Company (NYSE:TAP) traded up 0.50% during mid-day trading on Friday, reaching $87.98. 1,869,012 shares of the company were exchanged. The firm’s 50-day moving average is $88.11 and its 200-day moving average is $94.35. Molson Coors Brewing Company has a 12 month low of $85.34 and a 12 month high of $112.19. The company has a market capitalization of $18.94 billion, a price-to-earnings ratio of 9.45 and a beta of 0.91.
Molson Coors Brewing (NYSE:TAP) last posted its earnings results on Wednesday, May 3rd. The company reported $0.76 EPS for the quarter, missing analysts’ consensus estimates of $1.31 by $0.55. The company had revenue of $2.49 billion during 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 revenue was up 278.7% compared to the same quarter last year. During the same period last year, the company posted $0.54 EPS. On average, equities analysts forecast that Molson Coors Brewing Company will post $6.49 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be issued a $0.41 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $1.64 dividend on an annualized basis and a yield of 1.86%. Molson Coors Brewing ‘s dividend payout ratio (DPR) is presently 17.60%.
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Several brokerages have issued reports on TAP. Cowen and Company reissued a “hold” rating and set a $96.00 price target on shares of Molson Coors Brewing in a report on Friday, July 14th. Susquehanna Bancshares Inc set a $114.00 price objective on Molson Coors Brewing and gave the company a “buy” rating in a report on Saturday, June 3rd. Vetr upgraded shares of Molson Coors Brewing from a “buy” rating to a “strong-buy” rating and set a $103.20 price target for the company in a research report on Wednesday, May 3rd. UBS AG reiterated a “neutral” rating and set a $96.00 price target (down from $100.00) on shares of Molson Coors Brewing in a research report on Friday, June 9th. Finally, Societe Generale downgraded Molson Coors Brewing from a “buy” rating to a “hold” rating and cut their price objective for the stock from $118.00 to $98.00 in a research report on Thursday, May 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Molson Coors Brewing presently has a consensus rating of “Hold” and a consensus price target of $112.27.
About Molson Coors Brewing
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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