Hi Line Capital Management LLC raised its stake in shares of Molson Coors Brewing Co (NYSE:TAP) by 0.8% during the second quarter, HoldingsChannel reports. The firm owned 90,087 shares of the company’s stock after buying an additional 722 shares during the quarter. Molson Coors Brewing comprises 2.3% of Hi Line Capital Management LLC’s holdings, making the stock its 19th largest position. Hi Line Capital Management LLC’s holdings in Molson Coors Brewing were worth $5,045,000 as of its most recent SEC filing.
A number of other hedge funds also recently modified their holdings of TAP. Bridges Investment Management Inc. raised its holdings in shares of Molson Coors Brewing by 7.6% in the second quarter. Bridges Investment Management Inc. now owns 6,400 shares of the company’s stock worth $358,000 after buying an additional 454 shares during the period. GAM Holding AG raised its holdings in shares of Molson Coors Brewing by 1.4% in the second quarter. GAM Holding AG now owns 74,837 shares of the company’s stock worth $4,191,000 after buying an additional 1,056 shares during the period. Capital Investment Advisors LLC raised its holdings in shares of Molson Coors Brewing by 10.0% in the second quarter. Capital Investment Advisors LLC now owns 26,685 shares of the company’s stock worth $1,494,000 after buying an additional 2,436 shares during the period. Nissay Asset Management Corp Japan ADV raised its holdings in shares of Molson Coors Brewing by 3.6% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 18,766 shares of the company’s stock worth $1,119,000 after buying an additional 660 shares during the period. Finally, Equity Investment Corp raised its holdings in shares of Molson Coors Brewing by 13.4% in the first quarter. Equity Investment Corp now owns 1,420,903 shares of the company’s stock worth $84,757,000 after buying an additional 167,883 shares during the period. Institutional investors and hedge funds own 76.27% of the company’s stock.
Several equities research analysts have recently weighed in on the company. Bank of America downgraded Molson Coors Brewing from a “buy” rating to an “underperform” rating in a report on Monday, July 15th. BMO Capital Markets increased their price target on Molson Coors Brewing to $65.00 in a report on Thursday, August 1st. Guggenheim reduced their price objective on Molson Coors Brewing from $63.00 to $52.00 and set a “neutral” rating on the stock in a report on Thursday, August 1st. Bryan, Garnier & Co restated a “sell” rating and set a $51.00 price objective on shares of Molson Coors Brewing in a report on Thursday, August 1st. Finally, Credit Suisse Group started coverage on Molson Coors Brewing in a report on Monday, June 10th. They set an “underperform” rating and a $50.00 price objective on the stock. Five research analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $63.33.
TAP opened at $56.50 on Friday. The stock’s fifty day moving average is $52.74 and its two-hundred day moving average is $57.01. The company has a market capitalization of $12.25 billion, a P/E ratio of 11.21, a PEG ratio of 2.38 and a beta of 0.76. Molson Coors Brewing Co has a 52 week low of $49.92 and a 52 week high of $67.62. The company has a quick ratio of 0.47, a current ratio of 0.64 and a debt-to-equity ratio of 0.60.
Molson Coors Brewing (NYSE:TAP) last released its quarterly earnings data on Wednesday, July 31st. The company reported $1.52 EPS for the quarter, missing the consensus estimate of $1.65 by ($0.13). The firm had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $3.03 billion. Molson Coors Brewing had a return on equity of 7.33% and a net margin of 6.85%. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.88 earnings per share. Equities analysts anticipate that Molson Coors Brewing Co will post 4.36 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be issued a dividend of $0.57 per share. This is an increase from Molson Coors Brewing’s previous quarterly dividend of $0.41. This represents a $2.28 annualized dividend and a yield of 4.04%. The ex-dividend date is Thursday, August 29th. Molson Coors Brewing’s dividend payout ratio (DPR) is presently 45.24%.
About Molson Coors Brewing
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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