Hayek Kallen Investment Management Grows Stock Holdings in Molson Coors Brewing Co (NYSE:TAP)

Hayek Kallen Investment Management raised its position in shares of Molson Coors Brewing Co (NYSE:TAP) by 1.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 40,662 shares of the company’s stock after buying an additional 701 shares during the period. Molson Coors Brewing comprises about 1.5% of Hayek Kallen Investment Management’s holdings, making the stock its 27th largest holding. Hayek Kallen Investment Management’s holdings in Molson Coors Brewing were worth $2,338,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bridges Investment Management Inc. boosted its stake in shares of Molson Coors Brewing by 7.6% during the 2nd quarter. Bridges Investment Management Inc. now owns 6,400 shares of the company’s stock worth $358,000 after acquiring an additional 454 shares in the last quarter. Atria Investments LLC purchased a new position in Molson Coors Brewing in the second quarter valued at $1,050,000. GAM Holding AG boosted its holdings in Molson Coors Brewing by 1.4% in the second quarter. GAM Holding AG now owns 74,837 shares of the company’s stock valued at $4,191,000 after purchasing an additional 1,056 shares during the period. Capital Investment Advisors LLC boosted its holdings in Molson Coors Brewing by 10.0% in the second quarter. Capital Investment Advisors LLC now owns 26,685 shares of the company’s stock valued at $1,494,000 after purchasing an additional 2,436 shares during the period. Finally, Asahi Life Asset Management CO. LTD. purchased a new position in Molson Coors Brewing in the second quarter valued at $317,000. Institutional investors and hedge funds own 76.16% of the company’s stock.

Molson Coors Brewing stock traded up $0.28 during midday trading on Friday, reaching $53.79. The company’s stock had a trading volume of 1,043,371 shares, compared to its average volume of 1,685,607. Molson Coors Brewing Co has a fifty-two week low of $49.92 and a fifty-two week high of $67.24. The company has a quick ratio of 0.42, a current ratio of 0.59 and a debt-to-equity ratio of 0.60. The company has a market cap of $11.77 billion, a P/E ratio of 10.67, a P/E/G ratio of 2.11 and a beta of 0.77. The business has a 50-day simple moving average of $56.00 and a 200-day simple moving average of $55.78.

Molson Coors Brewing (NYSE:TAP) last posted its quarterly earnings results on Wednesday, October 30th. The company reported $1.48 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.46 by $0.02. Molson Coors Brewing had a return on equity of 6.86% and a net margin of 1.19%. The company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $2.87 billion. During the same period last year, the firm earned $1.84 earnings per share. Molson Coors Brewing’s quarterly revenue was down 3.1% on a year-over-year basis. As a group, equities analysts forecast that Molson Coors Brewing Co will post 4.3 earnings per share for the current year.

In other news, VP Brian Tabolt sold 1,825 shares of Molson Coors Brewing stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $56.94, for a total transaction of $103,915.50. Following the sale, the vice president now owns 6,218 shares in the company, valued at $354,052.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.48% of the stock is owned by company insiders.

A number of research firms recently issued reports on TAP. Zacks Investment Research upgraded Molson Coors Brewing from a “sell” rating to a “hold” rating and set a $55.00 target price for the company in a report on Monday, November 4th. Berenberg Bank reiterated a “hold” rating and issued a $51.00 target price on shares of Molson Coors Brewing in a report on Friday, November 1st. Bank of America cut Molson Coors Brewing from a “buy” rating to an “underperform” rating in a research note on Monday, July 15th. Bryan, Garnier & Co restated a “sell” rating and issued a $51.00 price target on shares of Molson Coors Brewing in a research note on Thursday, August 1st. Finally, MKM Partners set a $63.00 price target on Molson Coors Brewing and gave the company a “buy” rating in a research note on Friday, November 1st. Six analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $58.64.

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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