Citizens Financial Group Inc. RI cut its position in shares of Molson Coors Brewing Company (NYSE:TAP) by 30.0% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,827 shares of the company’s stock after selling 1,212 shares during the period. Citizens Financial Group Inc. RI’s holdings in Molson Coors Brewing Company were worth $271,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in TAP. Intellectus Partners LLC purchased a new position in shares of Molson Coors Brewing Company during the fourth quarter worth approximately $104,000. Amica Retiree Medical Trust bought a new position in shares of Molson Coors Brewing Company during the first quarter valued at about $105,000. Penserra Capital Management LLC raised its position in shares of Molson Coors Brewing Company by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,196 shares of the company’s stock valued at $114,000 after buying an additional 104 shares in the last quarter. Advisory Services Network LLC bought a new position in shares of Molson Coors Brewing Company during the first quarter valued at about $130,000. Finally, Lloyds Banking Group plc bought a new position in shares of Molson Coors Brewing Company during the first quarter valued at about $154,000. Institutional investors own 76.34% of the company’s stock.
Shares of Molson Coors Brewing Company (NYSE TAP) traded up 0.09% during trading on Tuesday, hitting $86.66. 769,982 shares of the stock traded hands. The firm’s 50-day moving average price is $92.64 and its 200-day moving average price is $96.05. The stock has a market cap of $18.66 billion, a PE ratio of 9.31 and a beta of 0.92. Molson Coors Brewing Company has a 12 month low of $85.91 and a 12 month high of $112.19.
Molson Coors Brewing Company (NYSE:TAP) last posted its earnings results on Wednesday, May 3rd. The company reported $0.76 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.31 by $0.55. The firm had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.46 billion. Molson Coors Brewing Company had a net margin of 23.53% and a return on equity of 6.73%. The business’s revenue for the quarter was up 278.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.54 earnings per share. Analysts anticipate that Molson Coors Brewing Company will post $6.49 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 15th. Investors of record on Wednesday, May 31st were issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend was Friday, May 26th. Molson Coors Brewing Company’s dividend payout ratio is currently 17.60%.
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TAP has been the subject of several research reports. Zacks Investment Research upgraded Molson Coors Brewing Company from a “strong sell” rating to a “hold” rating in a research note on Monday, February 20th. Susquehanna Bancshares Inc set a $140.00 target price on shares of Molson Coors Brewing Company and gave the stock a “buy” rating in a research report on Monday, March 20th. J P Morgan Chase & Co began coverage on shares of Molson Coors Brewing Company in a research report on Tuesday, March 21st. They set a “neutral” rating and a $105.00 target price on the stock. Cowen and Company reaffirmed a “market perform” rating and issued a $100.00 price target on shares of Molson Coors Brewing Company in a report on Wednesday, May 31st. Finally, Societe Generale cut shares of Molson Coors Brewing Company from a “buy” rating to a “hold” rating and lowered their price target for the stock from $118.00 to $98.00 in a report on Thursday, May 4th. Five analysts have rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $114.29.
Molson Coors Brewing Company 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.
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