Scopus Asset Management L.P. decreased its position in Molson Coors Brewing Company (NYSE:TAP) by 6.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 1,000,000 shares of the company’s stock after selling 67,376 shares during the period. Molson Coors Brewing comprises about 1.5% of Scopus Asset Management L.P.’s investment portfolio, making the stock its 10th largest position. Scopus Asset Management L.P. owned 0.46% of Molson Coors Brewing worth $95,710,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Kentucky Retirement Systems purchased a new stake in shares of Molson Coors Brewing during the fourth quarter valued at $1,301,000. UBS Asset Management Americas Inc. raised its position in Molson Coors Brewing by 19.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 522,895 shares of the company’s stock worth $50,881,000 after buying an additional 84,491 shares during the last quarter. Norges Bank bought a new position in Molson Coors Brewing during the fourth quarter worth $75,091,000. WFG Advisors LP raised its position in Molson Coors Brewing by 39,580.0% in the fourth quarter. WFG Advisors LP now owns 3,968 shares of the company’s stock worth $491,000 after buying an additional 3,958 shares during the last quarter. Finally, Numeric Investors LLC bought a new position in Molson Coors Brewing during the fourth quarter worth $389,000. Institutional investors own 76.38% of the company’s stock.
Shares of Molson Coors Brewing Company (NYSE:TAP) opened at 87.51 on Tuesday. Molson Coors Brewing Company has a 52 week low of $85.34 and a 52 week high of $112.19. The company has a 50-day moving average price of $91.09 and a 200 day moving average price of $95.46. The stock has a market capitalization of $18.84 billion, a PE ratio of 9.40 and a beta of 0.91.
Molson Coors Brewing (NYSE:TAP) last announced its quarterly earnings data 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 company had revenue of $2.49 billion during the quarter, compared to analyst estimates of $2.46 billion. Molson Coors Brewing had a net margin of 23.53% and a return on equity of 6.73%. The firm’s revenue was up 278.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.54 earnings per share. Equities analysts forecast that Molson Coors Brewing Company will post $6.49 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Tuesday, August 29th. Molson Coors Brewing ‘s payout ratio is currently 17.60%.
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A number of research analysts have weighed in on the company. J P Morgan Chase & Co initiated coverage on Molson Coors Brewing in a report on Tuesday, March 21st. They set a “neutral” rating and a $105.00 target price for the company. Susquehanna Bancshares Inc set a $140.00 price objective on Molson Coors Brewing and gave the stock a “buy” rating in a report on Monday, March 20th. Cowen and Company lowered Molson Coors Brewing from an “outperform” rating to a “market perform” rating and cut their price objective for the stock from $120.00 to $105.00 in a report on Thursday, April 20th. UBS AG restated a “neutral” rating and issued a $100.00 target price (down previously from $108.00) on shares of Molson Coors Brewing in a research report on Friday, May 5th. Finally, Societe Generale downgraded Molson Coors Brewing from a “buy” rating to a “hold” rating and dropped their target price for the stock from $118.00 to $98.00 in a research report on Thursday, May 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $112.27.
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.
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