Westpac Banking Corp Has $1.75 Million Stock Holdings in Molson Coors Brewing Co (NYSE:TAP)

Westpac Banking Corp raised its holdings in Molson Coors Brewing Co (NYSE:TAP) by 4.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 31,184 shares of the company’s stock after acquiring an additional 1,300 shares during the quarter. Westpac Banking Corp’s holdings in Molson Coors Brewing were worth $1,746,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Baker Ellis Asset Management LLC lifted its stake in Molson Coors Brewing by 0.4% in the first quarter. Baker Ellis Asset Management LLC now owns 40,606 shares of the company’s stock valued at $2,422,000 after acquiring an additional 180 shares during the last quarter. Meridian Investment Counsel Inc. lifted its stake in Molson Coors Brewing by 0.5% in the first quarter. Meridian Investment Counsel Inc. now owns 42,689 shares of the company’s stock valued at $2,546,000 after acquiring an additional 199 shares during the last quarter. RNC Capital Management LLC lifted its stake in Molson Coors Brewing by 3.6% in the second quarter. RNC Capital Management LLC now owns 5,700 shares of the company’s stock valued at $319,000 after acquiring an additional 200 shares during the last quarter. 6 Meridian lifted its stake in Molson Coors Brewing by 2.8% in the second quarter. 6 Meridian now owns 7,969 shares of the company’s stock valued at $446,000 after acquiring an additional 218 shares during the last quarter. Finally, Advisory Services Network LLC lifted its stake in Molson Coors Brewing by 10.8% in the first quarter. Advisory Services Network LLC now owns 2,298 shares of the company’s stock valued at $137,000 after acquiring an additional 224 shares during the last quarter. Hedge funds and other institutional investors own 77.59% of the company’s stock.

A number of equities analysts have recently commented on the stock. Credit Suisse Group assumed coverage on shares of Molson Coors Brewing in a research report on Monday, June 10th. They issued an “underperform” rating and a $50.00 price target on the stock. Bryan, Garnier & Co reissued a “sell” rating and issued a $51.00 price target on shares of Molson Coors Brewing in a research report on Thursday, August 1st. Zacks Investment Research raised shares of Molson Coors Brewing from a “sell” rating to a “hold” rating in a research report on Thursday, May 2nd. Guggenheim dropped their price target on shares of Molson Coors Brewing from $63.00 to $52.00 and set a “neutral” rating on the stock in a research report on Thursday, August 1st. Finally, Bank of America lowered shares of Molson Coors Brewing from a “buy” rating to an “underperform” rating in a research report on Monday, July 15th. Five analysts have rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $62.91.



Shares of NYSE:TAP traded up $1.02 during trading on Friday, reaching $51.88. The stock had a trading volume of 1,482,000 shares, compared to its average volume of 2,123,849. Molson Coors Brewing Co has a 52 week low of $49.92 and a 52 week high of $69.13. The firm has a market capitalization of $11.00 billion, a price-to-earnings ratio of 10.29, a P/E/G ratio of 2.61 and a beta of 0.79. The company has a quick ratio of 0.47, a current ratio of 0.64 and a debt-to-equity ratio of 0.60. The stock has a fifty day simple moving average of $54.42 and a two-hundred day simple moving average of $58.39.

Molson Coors Brewing (NYSE:TAP) last released its quarterly earnings results on Wednesday, July 31st. The company reported $1.52 EPS for the quarter, missing the Zacks’ consensus estimate of $1.65 by ($0.13). Molson Coors Brewing had a net margin of 6.85% and a return on equity of 7.33%. The firm had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same period in the prior year, the business earned $1.88 EPS. The company’s revenue for the quarter was down 4.4% compared to the same quarter last year. On average, analysts forecast that Molson Coors Brewing Co will post 4.36 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Friday, August 30th will be given a dividend of $0.57 per share. The ex-dividend date is Thursday, August 29th. This represents a $2.28 dividend on an annualized basis and a yield of 4.39%. This is a positive change from Molson Coors Brewing’s previous quarterly dividend of $0.41. Molson Coors Brewing’s payout ratio is 32.54%.

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.

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

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