Molson Coors Brewing Company (TAP) Shares Bought by Diamond Hill Capital Management Inc.

Diamond Hill Capital Management Inc. grew its stake in Molson Coors Brewing Company (NYSE:TAP) by 17.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 3,090,431 shares of the company’s stock after acquiring an additional 462,823 shares during the period. Molson Coors Brewing comprises 1.3% of Diamond Hill Capital Management Inc.’s investment portfolio, making the stock its 28th biggest holding. Diamond Hill Capital Management Inc. owned approximately 1.44% of Molson Coors Brewing worth $252,303,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in TAP. Bessemer Group Inc. raised its stake in shares of Molson Coors Brewing by 12.8% in the 2nd quarter. Bessemer Group Inc. now owns 1,230 shares of the company’s stock valued at $106,000 after acquiring an additional 140 shares during the period. Krilogy Financial LLC raised its stake in shares of Molson Coors Brewing by 4,646.4% in the 2nd quarter. Krilogy Financial LLC now owns 1,329 shares of the company’s stock valued at $115,000 after acquiring an additional 1,301 shares during the period. Sun Life Financial INC raised its stake in shares of Molson Coors Brewing by 14,900.0% in the 2nd quarter. Sun Life Financial INC now owns 1,350 shares of the company’s stock valued at $117,000 after acquiring an additional 1,341 shares during the period. Penserra Capital Management LLC raised its stake in shares of Molson Coors Brewing by 30.4% in the 2nd quarter. Penserra Capital Management LLC now owns 1,560 shares of the company’s stock valued at $134,000 after acquiring an additional 364 shares during the period. Finally, Korea Investment CORP raised its stake in shares of Molson Coors Brewing by 142.0% in the 2nd quarter. Korea Investment CORP now owns 1,750 shares of the company’s stock valued at $151,000 after acquiring an additional 1,027 shares during the period. 78.31% of the stock is currently owned by institutional investors and hedge funds.

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In other Molson Coors Brewing news, CEO Gavin Hattersley sold 17,215 shares of Molson Coors Brewing stock in a transaction that occurred on Thursday, August 3rd. The shares were sold at an average price of $91.90, for a total transaction of $1,582,058.50. Following the transaction, the chief executive officer now directly owns 99,217 shares of the company’s stock, valued at $9,118,042.30. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 2.76% of the company’s stock.

A number of equities research analysts have recently issued reports on the stock. Cowen and Company reissued a “hold” rating and issued a $96.00 price target on shares of Molson Coors Brewing in a research note on Friday, July 14th. Zacks Investment Research downgraded shares of Molson Coors Brewing from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Credit Suisse Group set a $96.00 price target on shares of Molson Coors Brewing and gave the company a “hold” rating in a research note on Thursday, August 3rd. UBS AG reissued a “neutral” rating and issued a $98.00 price target (up from $96.00) on shares of Molson Coors Brewing in a research note on Thursday, August 3rd. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $111.00 price target on shares of Molson Coors Brewing in a research note on Friday, July 14th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $98.80.

Shares of Molson Coors Brewing Company (TAP) traded down 0.39% during midday trading on Friday, reaching $83.25. 1,136,562 shares of the company traded hands. The stock has a market capitalization of $17.93 billion, a price-to-earnings ratio of 8.32 and a beta of 0.88. The company’s 50 day moving average is $84.66 and its 200-day moving average is $89.50. Molson Coors Brewing Company has a 12 month low of $80.92 and a 12 month high of $109.37.

Molson Coors Brewing (NYSE:TAP) last announced its quarterly earnings results on Wednesday, August 2nd. The company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $2.04 by ($0.38). The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.10 billion. Molson Coors Brewing had a net margin of 19.78% and a return on equity of 7.41%. The company’s quarterly revenue was down .6% on a year-over-year basis. During the same period last year, the firm earned $1.11 earnings per share. Equities research analysts forecast that Molson Coors Brewing Company will post $4.31 earnings per share for the current fiscal year.

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.

Institutional Ownership by Quarter for Molson Coors Brewing  (NYSE:TAP)

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