Martingale Asset Management L P bought a new stake in Molson Coors Brewing Co (NYSE:TAP) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 4,521 shares of the company’s stock, valued at approximately $254,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Bowling Portfolio Management LLC acquired a new stake in shares of Molson Coors Brewing in the fourth quarter worth $2,727,000. Standard Life Aberdeen plc lifted its stake in shares of Molson Coors Brewing by 11.3% in the third quarter. Standard Life Aberdeen plc now owns 797,948 shares of the company’s stock worth $49,078,000 after buying an additional 81,014 shares during the last quarter. Clarkston Capital Partners LLC acquired a new stake in shares of Molson Coors Brewing in the fourth quarter worth $67,455,000. Nordea Investment Management AB lifted its stake in shares of Molson Coors Brewing by 3.2% in the third quarter. Nordea Investment Management AB now owns 309,506 shares of the company’s stock worth $19,034,000 after buying an additional 9,722 shares during the last quarter. Finally, Dodge & Cox lifted its stake in shares of Molson Coors Brewing by 163.1% in the third quarter. Dodge & Cox now owns 8,367,441 shares of the company’s stock worth $514,598,000 after buying an additional 5,187,400 shares during the last quarter. Hedge funds and other institutional investors own 76.23% of the company’s stock.

A number of analysts have recently weighed in on TAP shares. Citigroup reduced their price objective on shares of Molson Coors Brewing from $72.00 to $69.00 and set a “buy” rating for the company in a research note on Thursday, February 14th. Jefferies Financial Group reaffirmed a “sell” rating on shares of Molson Coors Brewing in a research report on Tuesday, February 12th. Deutsche Bank lowered shares of Molson Coors Brewing from a “buy” rating to a “hold” rating and dropped their target price for the stock from $72.00 to $63.00 in a research report on Tuesday, February 12th. UBS Group began coverage on shares of Molson Coors Brewing in a research report on Thursday, December 13th. They set a “buy” rating and a $80.00 target price on the stock. Finally, Zacks Investment Research lowered shares of Molson Coors Brewing from a “hold” rating to a “sell” rating in a research report on Wednesday, February 13th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $71.23.

Shares of TAP stock opened at $60.82 on Friday. Molson Coors Brewing Co has a 1 year low of $54.17 and a 1 year high of $81.78. The firm has a market cap of $13.02 billion, a P/E ratio of 12.07, a P/E/G ratio of 2.89 and a beta of 0.78. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.51 and a current ratio of 0.64.

Molson Coors Brewing (NYSE:TAP) last announced its earnings results on Tuesday, February 12th. The company reported $0.84 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.78 by $0.06. Molson Coors Brewing had a net margin of 8.37% and a return on equity of 7.89%. The business had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.53 billion. During the same quarter in the previous year, the firm posted $0.62 earnings per share. Molson Coors Brewing’s revenue was down 6.2% compared to the same quarter last year. Analysts predict that Molson Coors Brewing Co will post 4.66 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, March 15th. Shareholders of record on Monday, March 4th were issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.70%. The ex-dividend date was Friday, March 1st. Molson Coors Brewing’s dividend payout ratio (DPR) is presently 32.54%.

In other Molson Coors Brewing news, CEO Simon Cox sold 9,497 shares of the business’s stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $60.69, for a total value of $576,372.93. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 2.55% of the company’s stock.

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Molson Coors Brewing Profile

Molson Coors Brewing Company manufactures, markets, and sells beer and other malt beverage products in the United States, Canada, Europe, and internationally. The company sells various products under the Blue Moon, Coors Banquet, Coors Light, Miller Genuine Draft, Miller Lite, Hamm's, Icehouse, Keystone, Mickey's, Miller64, Miller High Life, Milwaukee's Best, Olde English, Steel Reserve, Grolsch, Hop Valley, Leinenkugel's, Peroni Nastro Azurro, Pilsner Urquell, Revolver, Saint Archer, Sol, Terrapin, Crispin, Smith & Forge, Arnold Palmer Spiked, Henry's Hard, Redd's, and Steel Reserve Alloy Series brands.

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

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