Valeo Financial Advisors LLC increased its position in shares of Molson Coors Brewing Co (NYSE:TAP) by 58.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,864 shares of the company’s stock after acquiring an additional 686 shares during the period. Valeo Financial Advisors LLC’s holdings in Molson Coors Brewing were worth $153,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the stock. Citizens Financial Group Inc. RI grew its position in Molson Coors Brewing by 37.3% during the 3rd quarter. Citizens Financial Group Inc. RI now owns 2,899 shares of the company’s stock worth $237,000 after acquiring an additional 787 shares during the last quarter. Advisor Partners LLC grew its position in Molson Coors Brewing by 28.5% during the 4th quarter. Advisor Partners LLC now owns 3,811 shares of the company’s stock worth $319,000 after acquiring an additional 846 shares during the last quarter. Advisor Group Inc. grew its position in Molson Coors Brewing by 48.9% during the 3rd quarter. Advisor Group Inc. now owns 2,598 shares of the company’s stock worth $213,000 after acquiring an additional 853 shares during the last quarter. First Allied Advisory Services Inc. grew its position in Molson Coors Brewing by 25.8% during the 3rd quarter. First Allied Advisory Services Inc. now owns 4,246 shares of the company’s stock worth $345,000 after acquiring an additional 870 shares during the last quarter. Finally, Global X Management Co. LLC grew its position in Molson Coors Brewing by 11.0% during the 4th quarter. Global X Management Co. LLC now owns 9,177 shares of the company’s stock worth $753,000 after acquiring an additional 909 shares during the last quarter. Institutional investors and hedge funds own 77.05% of the company’s stock.
A number of research firms have commented on TAP. Zacks Investment Research lowered Molson Coors Brewing from a “buy” rating to a “hold” rating in a research report on Wednesday. Berenberg Bank reiterated a “sell” rating and issued a $76.00 price target on shares of Molson Coors Brewing in a research report on Friday, November 3rd. Susquehanna Bancshares set a $108.00 price target on Molson Coors Brewing and gave the company a “buy” rating in a research report on Wednesday, November 1st. Credit Suisse Group upgraded Molson Coors Brewing from a “neutral” rating to an “outperform” rating and upped their price target for the company from $94.00 to $96.00 in a research report on Monday, February 12th. Finally, BMO Capital Markets began coverage on Molson Coors Brewing in a research report on Monday, February 5th. They issued an “outperform” rating and a $95.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Molson Coors Brewing presently has an average rating of “Buy” and a consensus target price of $96.88.
Molson Coors Brewing (NYSE:TAP) last announced its quarterly earnings data on Wednesday, February 14th. The company reported $0.62 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.56 by $0.06. The company had revenue of $2.58 billion for the quarter, compared to the consensus estimate of $2.60 billion. Molson Coors Brewing had a return on equity of 7.55% and a net margin of 10.34%. The firm’s revenue was up 4.5% compared to the same quarter last year. During the same period in the previous year, the business earned $0.47 EPS. sell-side analysts predict that Molson Coors Brewing Co will post 5.12 earnings per share for the current fiscal year.
In other news, Chairman Peter H. Coors sold 55,603 shares of the business’s stock in a transaction dated Wednesday, January 17th. The stock was sold at an average price of $85.01, for a total value of $4,726,811.03. Following the transaction, the chairman now directly owns 319,222 shares of the company’s stock, valued at approximately $27,137,062.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Tracey Joubert sold 1,000 shares of the business’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $79.15, for a total value of $79,150.00. Following the completion of the transaction, the chief financial officer now directly owns 22,839 shares in the company, valued at $1,807,706.85. The disclosure for this sale can be found here. 2.76% of the stock is owned by insiders.
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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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