Molson Coors Brewing Company (NYSE:TAP) Shares Sold by Stoneridge Investment Partners LLC

Stoneridge Investment Partners LLC lessened its holdings in shares of Molson Coors Brewing Company (NYSE:TAP) by 6.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 90,723 shares of the company’s stock after selling 6,091 shares during the quarter. Molson Coors Brewing makes up 1.2% of Stoneridge Investment Partners LLC’s portfolio, making the stock its 26th biggest position. Stoneridge Investment Partners LLC’s holdings in Molson Coors Brewing were worth $7,407,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in the stock. Dupont Capital Management Corp bought a new position in Molson Coors Brewing in the third quarter worth $103,000. Bessemer Group Inc. raised its holdings in Molson Coors Brewing by 12.8% in the second quarter. Bessemer Group Inc. now owns 1,230 shares of the company’s stock worth $106,000 after purchasing an additional 140 shares in the last quarter. Krilogy Financial LLC raised its holdings in Molson Coors Brewing by 4,646.4% in the second quarter. Krilogy Financial LLC now owns 1,329 shares of the company’s stock worth $115,000 after purchasing an additional 1,301 shares in the last quarter. Sun Life Financial INC raised its holdings in Molson Coors Brewing by 14,900.0% in the second quarter. Sun Life Financial INC now owns 1,350 shares of the company’s stock worth $117,000 after purchasing an additional 1,341 shares in the last quarter. Finally, Penserra Capital Management LLC raised its holdings in Molson Coors Brewing by 30.4% in the second quarter. Penserra Capital Management LLC now owns 1,560 shares of the company’s stock worth $134,000 after purchasing an additional 364 shares in the last quarter. Institutional investors own 76.51% of the company’s stock.

Shares of Molson Coors Brewing Company (NYSE:TAP) opened at $79.54 on Thursday. The company has a current ratio of 0.69, a quick ratio of 0.54 and a debt-to-equity ratio of 0.83. The firm has a market capitalization of $18,330.00, a price-to-earnings ratio of 18.77, a price-to-earnings-growth ratio of 2.32 and a beta of 0.86. Molson Coors Brewing Company has a 1 year low of $78.10 and a 1 year high of $102.14.

Molson Coors Brewing (NYSE:TAP) last released its quarterly earnings results on Wednesday, November 1st. The company reported $1.34 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $1.34. The firm had revenue of $2.88 billion during the quarter, compared to analyst estimates of $2.97 billion. Molson Coors Brewing had a return on equity of 7.54% and a net margin of 17.04%. The business’s revenue for the quarter was up 204.3% compared to the same quarter last year. During the same period in the previous year, the company posted $1.03 EPS. equities research analysts predict that Molson Coors Brewing Company will post 4.34 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Wednesday, November 29th. Molson Coors Brewing ‘s dividend payout ratio is currently 15.80%.

Several equities research analysts recently commented on TAP shares. Zacks Investment Research cut Molson Coors Brewing from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 8th. UBS AG reaffirmed a “neutral” rating and set a $98.00 price objective (up from $96.00) on shares of Molson Coors Brewing in a research report on Thursday, August 3rd. Credit Suisse Group set a $96.00 price objective on Molson Coors Brewing and gave the company a “hold” rating in a research report on Thursday, August 3rd. Susquehanna Bancshares Inc set a $108.00 price objective on Molson Coors Brewing and gave the company a “buy” rating in a research report on Wednesday, November 1st. Finally, Berenberg Bank reissued a “sell” rating and issued a $76.00 target price on shares of Molson Coors Brewing in a research report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $98.92.

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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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