Piedmont Investment Advisors LLC bought a new stake in Molson Coors Brewing Company (NYSE:TAP) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 37,460 shares of the company’s stock, valued at approximately $3,058,000.

Several other institutional investors and hedge funds have also made changes to their positions in TAP. Dupont Capital Management Corp acquired a new position in shares of Molson Coors Brewing in the 3rd quarter valued at approximately $103,000. Bessemer Group Inc. raised its position 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 purchasing an additional 140 shares in the last quarter. Krilogy Financial LLC raised its position 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 purchasing an additional 1,301 shares in the last quarter. Sun Life Financial INC raised its position 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 purchasing an additional 1,341 shares in the last quarter. Finally, Penserra Capital Management LLC raised its position 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 purchasing an additional 364 shares in the last quarter. 78.00% of the stock is currently owned by institutional investors.

Several equities research analysts recently issued reports on the company. Susquehanna Bancshares set a $118.00 price target on Molson Coors Brewing and gave the company a “buy” rating in a research report on Tuesday, August 29th. Citigroup dropped their price target on Molson Coors Brewing from $106.00 to $102.00 and set a “buy” rating on the stock in a research report on Friday, November 3rd. Zacks Investment Research lowered Molson Coors Brewing from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Credit Suisse Group set a $92.00 price target on Molson Coors Brewing and gave the company a “hold” rating in a research report on Friday, September 29th. Finally, Berenberg Bank assumed coverage on Molson Coors Brewing in a research report on Wednesday, September 13th. They set a “sell” rating and a $78.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $98.02.

Molson Coors Brewing Company (NYSE:TAP) traded down $0.13 during mid-day trading on Friday, hitting $79.37. The company had a trading volume of 1,062,600 shares, compared to its average volume of 1,583,873. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.54 and a current ratio of 0.69. The firm has a market cap of $17,124.30, a price-to-earnings ratio of 18.84, a P/E/G ratio of 2.33 and a beta of 0.83. Molson Coors Brewing Company has a twelve month low of $76.25 and a twelve month high of $102.14.

Molson Coors Brewing (NYSE:TAP) last issued its quarterly earnings data on Wednesday, November 1st. The company reported $1.34 EPS for the quarter, hitting the Zacks’ consensus estimate of $1.34. The firm had revenue of $2.88 billion during the quarter, compared to the consensus estimate of $2.97 billion. Molson Coors Brewing had a return on equity of 7.54% and a net margin of 17.04%. The firm’s revenue was up 204.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.03 EPS. equities research analysts forecast that Molson Coors Brewing Company will post 4.34 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be paid a dividend of $0.41 per share. The ex-dividend date is Wednesday, November 29th. This represents a $1.64 dividend on an annualized basis and a yield of 2.07%. Molson Coors Brewing’s payout ratio is currently 15.83%.

In related news, CFO Tracey Joubert sold 1,000 shares of the company’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 22,839 shares in the company, valued at approximately $1,807,706.85. The sale was disclosed in a document filed with the SEC, which is available through this link. 2.76% of the stock is owned by corporate insiders.

WARNING: This piece was first published by Watch List News and is the property of of Watch List News. If you are reading this piece on another domain, it was copied illegally and reposted in violation of United States & international copyright and trademark laws. The legal version of this piece can be accessed at https://www.watchlistnews.com/piedmont-investment-advisors-llc-invests-3-06-million-in-molson-coors-brewing-company-tap/1765942.html.

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.

Want to see what other hedge funds are holding TAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Molson Coors Brewing Company (NYSE:TAP).

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

Receive News & Ratings for Molson Coors Brewing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Molson Coors Brewing and related companies with MarketBeat.com's FREE daily email newsletter.