Molson Coors Brewing Company (TAP) Shares Bought by Cubist Systematic Strategies LLC
Cubist Systematic Strategies LLC lifted its stake in shares of Molson Coors Brewing Company (NYSE:TAP) by 178.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,977 shares of the company’s stock after purchasing an additional 12,158 shares during the period. Cubist Systematic Strategies LLC’s holdings in Molson Coors Brewing were worth $1,549,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of the company. Highbridge Capital Management LLC lifted its position in shares of Molson Coors Brewing by 805.5% during the third quarter. Highbridge Capital Management LLC now owns 92,357 shares of the company’s stock worth $7,540,000 after purchasing an additional 82,157 shares during the last quarter. Vident Investment Advisory LLC bought a new position in shares of Molson Coors Brewing during the third quarter worth about $388,000. Claar Advisors LLC bought a new position in shares of Molson Coors Brewing during the third quarter worth about $579,000. Empire Life Investments Inc. lifted its holdings in Molson Coors Brewing by 42.8% in the third quarter. Empire Life Investments Inc. now owns 581,698 shares of the company’s stock worth $47,490,000 after acquiring an additional 174,392 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. lifted its holdings in Molson Coors Brewing by 1.2% in the third quarter. Chevy Chase Trust Holdings Inc. now owns 162,797 shares of the company’s stock worth $13,291,000 after acquiring an additional 1,999 shares during the last quarter. 78.00% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on TAP shares. Deutsche Bank started coverage on shares of Molson Coors Brewing in a report on Wednesday. They issued a “buy” rating and a $89.00 target price on the stock. Cowen reissued a “hold” rating and issued a $96.00 target price on shares of Molson Coors Brewing in a report on Thursday, September 28th. BidaskClub raised shares of Molson Coors Brewing from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Susquehanna Bancshares reissued a “buy” rating on shares of Molson Coors Brewing in a report on Wednesday, October 11th. Finally, Berenberg Bank reissued a “sell” rating and issued a $76.00 target price on shares of Molson Coors Brewing in a report on Friday, November 3rd. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $98.02.
Molson Coors Brewing (NYSE:TAP) last released its quarterly earnings results on Wednesday, November 1st. The company reported $1.34 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.34. The company had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.97 billion. Molson Coors Brewing had a return on equity of 7.54% and a net margin of 17.04%. The business’s revenue for the quarter was up 204.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.03 earnings per share. equities analysts forecast that Molson Coors Brewing Company will post 4.35 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 15th. Stockholders of record on Thursday, November 30th were issued a dividend of $0.41 per share. The ex-dividend date was Wednesday, November 29th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.06%. Molson Coors Brewing’s dividend payout ratio (DPR) is presently 15.83%.
In other news, CFO Tracey Joubert sold 1,000 shares of Molson Coors Brewing stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $79.15, for a total transaction of $79,150.00. Following the sale, the chief financial officer now owns 22,839 shares of the company’s stock, valued at $1,807,706.85. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 2.76% of the company’s stock.
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Molson Coors Brewing 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.
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