19,413 Shares in Molson Coors Brewing Co (TAP) Acquired by First Hawaiian Bank

First Hawaiian Bank bought a new position in shares of Molson Coors Brewing Co (NYSE:TAP) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 19,413 shares of the company’s stock, valued at approximately $1,194,000.

Several other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. increased its stake in Molson Coors Brewing by 10.9% in the second quarter. BlackRock Inc. now owns 13,894,209 shares of the company’s stock valued at $945,363,000 after purchasing an additional 1,367,047 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Molson Coors Brewing by 8.4% in the 2nd quarter. Wells Fargo & Company MN now owns 4,643,007 shares of the company’s stock worth $315,909,000 after purchasing an additional 361,588 shares during the period. American Century Companies Inc. lifted its position in shares of Molson Coors Brewing by 29.1% in the 2nd quarter. American Century Companies Inc. now owns 2,510,468 shares of the company’s stock worth $170,812,000 after purchasing an additional 565,994 shares during the period. Massachusetts Financial Services Co. MA lifted its position in shares of Molson Coors Brewing by 59.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,027,592 shares of the company’s stock worth $137,957,000 after purchasing an additional 758,900 shares during the period. Finally, Fairpointe Capital LLC lifted its position in shares of Molson Coors Brewing by 42,908.9% in the 2nd quarter. Fairpointe Capital LLC now owns 1,376,285 shares of the company’s stock worth $93,643,000 after purchasing an additional 1,373,085 shares during the period. 76.39% of the stock is currently owned by institutional investors.

Several equities research analysts have recently commented on TAP shares. Guggenheim started coverage on shares of Molson Coors Brewing in a research report on Thursday, September 13th. They issued a “neutral” rating and a $66.00 target price for the company. Morgan Stanley raised their target price on shares of Molson Coors Brewing from $69.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 2nd. Susquehanna Bancshares raised their target price on shares of Molson Coors Brewing from $80.00 to $84.00 and gave the stock a “positive” rating in a research report on Thursday, August 2nd. Jefferies Financial Group started coverage on shares of Molson Coors Brewing in a research report on Friday, September 7th. They issued an “underperform” rating and a $55.00 target price for the company. Finally, Zacks Investment Research raised shares of Molson Coors Brewing from a “sell” rating to a “hold” rating in a research report on Saturday, July 7th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $76.08.

Shares of NYSE TAP opened at $59.90 on Friday. Molson Coors Brewing Co has a 1 year low of $58.75 and a 1 year high of $85.86. The stock has a market cap of $12.85 billion, a P/E ratio of 13.40, a price-to-earnings-growth ratio of 2.47 and a beta of 0.73. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.66 and a quick ratio of 0.51.

Molson Coors Brewing (NYSE:TAP) last issued its quarterly earnings results on Wednesday, August 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.05. Molson Coors Brewing had a net margin of 11.68% and a return on equity of 6.97%. The company had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same period last year, the company posted $1.70 EPS. Molson Coors Brewing’s revenue was down .2% on a year-over-year basis. As a group, research analysts forecast that Molson Coors Brewing Co will post 4.81 earnings per share for the current fiscal year.

In related news, insider Krishnan Anand sold 2,595 shares of Molson Coors Brewing stock in a transaction dated Wednesday, August 1st. The shares were sold at an average price of $64.96, for a total transaction of $168,571.20. Following the completion of the transaction, the insider now directly owns 49,946 shares of the company’s stock, valued at approximately $3,244,492.16. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Over the last three months, insiders have sold 7,785 shares of company stock valued at $499,901. 2.55% of the stock is currently owned by corporate insiders.

About Molson Coors Brewing

Molson Coors Brewing Company manufactures and sells beer and other beverage products in the United States, Canada, Europe, and internationally. It sells various products under the Coors Light, Miller Lite, Coors Banquet, the Blue Moon Brewing Company brands, the Jacob Leinenkugel Brewing Company brands, Keystone, Icehouse, Mickey's, Miller 64, Miller Genuine Draft, Miller High Life, Milwaukee's Best, Hamm's, Olde English 800, Steel Reserve, Crispin, Smith & Forge, Redd's, the Henry's Hard Soda, and Steel Reserve Alloy Series brands.

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

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