Molson Coors Brewing Co (NYSE:TAP) Shares Acquired by Westpac Banking Corp

Westpac Banking Corp lifted its holdings in shares of Molson Coors Brewing Co (NYSE:TAP) by 11.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,484 shares of the company’s stock after acquiring an additional 3,600 shares during the quarter. Westpac Banking Corp’s holdings in Molson Coors Brewing were worth $1,859,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the stock. State Street Corp lifted its holdings in shares of Molson Coors Brewing by 2.8% during the 4th quarter. State Street Corp now owns 9,357,708 shares of the company’s stock valued at $504,380,000 after acquiring an additional 251,413 shares in the last quarter. LSV Asset Management lifted its holdings in shares of Molson Coors Brewing by 1.9% during the 4th quarter. LSV Asset Management now owns 4,655,218 shares of the company’s stock valued at $250,916,000 after acquiring an additional 87,812 shares in the last quarter. Clarkston Capital Partners LLC lifted its holdings in shares of Molson Coors Brewing by 7.6% during the 4th quarter. Clarkston Capital Partners LLC now owns 2,391,304 shares of the company’s stock valued at $128,891,000 after acquiring an additional 168,668 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Molson Coors Brewing by 5.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,167,799 shares of the company’s stock valued at $62,945,000 after acquiring an additional 64,360 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Molson Coors Brewing by 57.6% during the 4th quarter. Russell Investments Group Ltd. now owns 1,029,668 shares of the company’s stock valued at $55,482,000 after acquiring an additional 376,343 shares in the last quarter. Institutional investors and hedge funds own 79.12% of the company’s stock.

TAP has been the topic of several recent research reports. ValuEngine lowered shares of Molson Coors Brewing from a “hold” rating to a “sell” rating in a report on Tuesday, March 3rd. TheStreet upgraded shares of Molson Coors Brewing from a “c” rating to a “b-” rating in a report on Wednesday, February 12th. Barclays lowered shares of Molson Coors Brewing from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $59.00 to $54.00 in a report on Monday, November 25th. Citigroup reduced their target price on shares of Molson Coors Brewing from $65.00 to $52.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Morgan Stanley boosted their price objective on shares of Molson Coors Brewing from $52.00 to $56.00 and gave the stock an “equal weight” rating in a report on Tuesday, January 21st. Six research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $53.75.

TAP stock traded up $0.92 during trading on Tuesday, reaching $43.93. The stock had a trading volume of 23,209 shares, compared to its average volume of 2,293,005. Molson Coors Brewing Co has a 1-year low of $42.67 and a 1-year high of $64.32. The company has a current ratio of 0.59, a quick ratio of 0.42 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $10.39 billion, a P/E ratio of 39.66, a PEG ratio of 2.05 and a beta of 0.84. The firm has a fifty day moving average price of $54.29 and a 200 day moving average price of $54.08.

Molson Coors Brewing (NYSE:TAP) last issued its quarterly earnings data on Wednesday, February 12th. The company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.78 by $0.24. Molson Coors Brewing had a net margin of 1.86% and a return on equity of 7.15%. The firm had revenue of $2.49 billion for the quarter, compared to analyst estimates of $2.48 billion. During the same quarter in the previous year, the business posted $0.84 EPS. The firm’s revenue was up 2.8% compared to the same quarter last year. Sell-side analysts predict that Molson Coors Brewing Co will post 3.9 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, March 20th. Stockholders of record on Monday, March 9th will be paid a $0.57 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 5.19%. Molson Coors Brewing’s dividend payout ratio (DPR) is presently 50.22%.

In other news, Vice Chairman Peter H. Coors sold 67,079 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $51.22, for a total value of $3,435,786.38. Following the sale, the insider now owns 311,958 shares in the company, valued at approximately $15,978,488.76. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 2.48% of the company’s stock.

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.

Further Reading: Diversification

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

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