Molson Coors Brewing Co (TAP) Shares Sold by Commerzbank Aktiengesellschaft FI
Commerzbank Aktiengesellschaft FI decreased its stake in shares of Molson Coors Brewing Co (NYSE:TAP) by 30.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,558 shares of the company’s stock after selling 1,533 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Molson Coors Brewing were worth $292,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Dupont Capital Management Corp purchased a new stake in Molson Coors Brewing during the third quarter worth approximately $103,000. Krilogy Financial LLC grew its stake in Molson Coors Brewing by 4,646.4% during the second quarter. Krilogy Financial LLC now owns 1,329 shares of the company’s stock worth $115,000 after buying an additional 1,301 shares during the period. Cerebellum GP LLC purchased a new stake in Molson Coors Brewing during the fourth quarter worth approximately $129,000. Meeder Asset Management Inc. purchased a new stake in Molson Coors Brewing during the third quarter worth approximately $138,000. Finally, Advisor Group Inc. grew its stake in Molson Coors Brewing by 48.9% during the third quarter. Advisor Group Inc. now owns 2,598 shares of the company’s stock worth $213,000 after buying an additional 853 shares during the period. Institutional investors own 77.77% of the company’s stock.
In other Molson Coors Brewing news, Chairman Peter H. Coors sold 55,603 shares of the stock in a transaction on Wednesday, January 17th. The shares were sold at an average price of $85.01, for a total transaction of $4,726,811.03. Following the transaction, the chairman now directly owns 319,222 shares in the company, valued at approximately $27,137,062.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Tracey Joubert sold 1,000 shares of the stock in a transaction on Friday, December 1st. The shares were sold at an average price of $79.15, for a total transaction of $79,150.00. Following the transaction, the chief financial officer now owns 22,839 shares in the company, valued at $1,807,706.85. The disclosure for this sale can be found here. Corporate insiders own 2.76% of the company’s stock.
TAP has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Molson Coors Brewing from a “hold” rating to a “buy” rating and set a $92.00 target price for the company in a research note on Tuesday, January 2nd. Stifel Nicolaus restated a “buy” rating and issued a $116.00 target price on shares of Molson Coors Brewing in a research note on Friday, December 22nd. Citigroup decreased their target price on shares of Molson Coors Brewing from $106.00 to $102.00 and set a “buy” rating for the company in a research note on Friday, November 3rd. Susquehanna Bancshares restated a “buy” rating on shares of Molson Coors Brewing in a research note on Wednesday, October 11th. Finally, Morgan Stanley initiated coverage on shares of Molson Coors Brewing in a research note on Tuesday, January 9th. They issued an “equal weight” rating and a $88.00 target price for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $96.55.
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About Molson Coors Brewing
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.
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