Symons Capital Management Inc. cut its holdings in Molson Coors Brewing Co (NYSE:TAP) by 10.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 121,549 shares of the company’s stock after selling 13,506 shares during the quarter. Molson Coors Brewing accounts for 3.2% of Symons Capital Management Inc.’s investment portfolio, making the stock its 11th largest position. Symons Capital Management Inc. owned about 0.06% of Molson Coors Brewing worth $6,989,000 as of its most recent SEC filing.
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Several other hedge funds have also made changes to their positions in the company. CWM LLC raised its stake in Molson Coors Brewing by 1,000.0% in the 3rd quarter. CWM LLC now owns 550 shares of the company’s stock valued at $32,000 after purchasing an additional 500 shares during the last quarter. Ossiam purchased a new position in Molson Coors Brewing in the second quarter worth approximately $31,000. Massey Quick Simon & CO. LLC acquired a new stake in Molson Coors Brewing during the third quarter worth $35,000. Capital Bank & Trust Co acquired a new stake in Molson Coors Brewing during the second quarter worth $39,000. Finally, FinTrust Capital Advisors LLC raised its position in Molson Coors Brewing by 49.9% in the third quarter. FinTrust Capital Advisors LLC now owns 706 shares of the company’s stock valued at $41,000 after purchasing an additional 235 shares during the period. 77.79% of the stock is owned by institutional investors and hedge funds.
In other news, VP Brian Tabolt sold 1,825 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $56.94, for a total value of $103,915.50. Following the completion of the transaction, the vice president now owns 6,218 shares in the company, valued at approximately $354,052.92. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 2.48% of the company’s stock.
TAP stock opened at $50.67 on Tuesday. Molson Coors Brewing Co has a fifty-two week low of $49.92 and a fifty-two week high of $67.24. The company’s 50 day moving average price is $53.93 and its 200 day moving average price is $54.75. The firm has a market capitalization of $10.92 billion, a price-to-earnings ratio of 10.05, a PEG ratio of 1.96 and a beta of 0.74. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.42 and a current ratio of 0.59.
Molson Coors Brewing (NYSE:TAP) last issued its earnings results on Wednesday, October 30th. The company reported $1.48 earnings per share for the quarter, topping the consensus estimate of $1.46 by $0.02. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $2.87 billion. Molson Coors Brewing had a return on equity of 6.86% and a net margin of 1.19%. The business’s quarterly revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the company earned $1.84 EPS. Equities analysts forecast that Molson Coors Brewing Co will post 4.3 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Monday, December 2nd will be given a dividend of $0.57 per share. The ex-dividend date of this dividend is Friday, November 29th. This represents a $2.28 annualized dividend and a dividend yield of 4.50%. Molson Coors Brewing’s dividend payout ratio is presently 45.24%.
TAP has been the topic of several recent analyst reports. Barclays lowered Molson Coors Brewing from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $59.00 to $54.00 in a research note on Monday, November 25th. Berenberg Bank restated a “hold” rating and issued a $51.00 price objective on shares of Molson Coors Brewing in a report on Friday, November 1st. BMO Capital Markets cut shares of Molson Coors Brewing from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $62.00 to $55.00 in a research report on Tuesday, November 26th. ValuEngine upgraded shares of Molson Coors Brewing from a “strong sell” rating to a “sell” rating in a research report on Wednesday, October 2nd. Finally, Evercore ISI began coverage on shares of Molson Coors Brewing in a report on Wednesday, November 20th. They issued a “buy” rating and a $60.00 price objective on the stock. Six equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $57.62.
Molson Coors Brewing Company 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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