Molson Coors Brewing Company (NYSE:TAP) Stake Lowered by Sumitomo Mitsui Trust Holdings Inc.

Sumitomo Mitsui Trust Holdings Inc. decreased its holdings in Molson Coors Brewing Company (NYSE:TAP) by 1.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 518,987 shares of the company’s stock after selling 8,223 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned 0.24% of Molson Coors Brewing worth $42,370,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Bessemer Group Inc. lifted its position in shares of Molson Coors Brewing by 12.8% during the 2nd quarter. Bessemer Group Inc. now owns 1,230 shares of the company’s stock worth $106,000 after buying an additional 140 shares in the last quarter. Dupont Capital Management Corp bought a new position in shares of Molson Coors Brewing during the 3rd quarter worth approximately $103,000. Krilogy Financial LLC lifted its position in shares of Molson Coors Brewing by 4,646.4% during the 2nd quarter. Krilogy Financial LLC now owns 1,329 shares of the company’s stock worth $115,000 after buying an additional 1,301 shares in the last quarter. Sun Life Financial INC lifted its position in shares of Molson Coors Brewing by 14,900.0% during the 2nd quarter. Sun Life Financial INC now owns 1,350 shares of the company’s stock worth $117,000 after buying an additional 1,341 shares in the last quarter. Finally, Penserra Capital Management LLC lifted its position in shares of Molson Coors Brewing by 30.4% during the 2nd quarter. Penserra Capital Management LLC now owns 1,560 shares of the company’s stock worth $134,000 after buying an additional 364 shares in the last quarter. 78.00% of the stock is currently owned by institutional investors and hedge funds.

TAP has been the topic of a number of research reports. Citigroup lowered their price target on shares of Molson Coors Brewing from $106.00 to $102.00 and set a “buy” rating on the stock in a report on Friday, November 3rd. Susquehanna Bancshares reaffirmed a “buy” rating on shares of Molson Coors Brewing in a report on Wednesday, October 11th. Berenberg Bank initiated coverage on shares of Molson Coors Brewing in a report on Wednesday, September 13th. They issued a “sell” rating and a $78.00 price target on the stock. BidaskClub raised shares of Molson Coors Brewing from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Finally, Zacks Investment Research cut shares of Molson Coors Brewing from a “hold” rating to a “sell” rating in a report on Tuesday, October 10th. One analyst has rated the stock with a sell rating, seven have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. Molson Coors Brewing has a consensus rating of “Hold” and a consensus price target of $98.92.

Molson Coors Brewing Company (NYSE:TAP) traded up $0.75 during trading on Wednesday, reaching $81.07. 1,340,999 shares of the company were exchanged, compared to its average volume of 1,599,961. Molson Coors Brewing Company has a fifty-two week low of $76.25 and a fifty-two week high of $102.14. The stock has a market cap of $18,690.00, a price-to-earnings ratio of 19.08, a price-to-earnings-growth ratio of 2.36 and a beta of 0.82. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.69 and a quick ratio of 0.54.

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

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be paid a $0.41 dividend. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.64 dividend on an annualized basis and a yield of 2.02%. Molson Coors Brewing’s dividend payout ratio is 15.80%.

In related news, CFO Tracey Joubert sold 1,000 shares of Molson Coors Brewing stock in a transaction that occurred on 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 approximately $1,807,706.85. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 2.76% of the stock is currently owned by insiders.

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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.

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

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