Pratt Collard Advisory Partners LLC increased its position in Molson Coors Brewing Co (NYSE:TAP) by 43.5% during the 3rd quarter, Holdings Channel reports. The firm owned 11,985 shares of the company’s stock after acquiring an additional 3,635 shares during the quarter. Pratt Collard Advisory Partners LLC’s holdings in Molson Coors Brewing were worth $689,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in Molson Coors Brewing by 3.0% in the second quarter. Vanguard Group Inc. now owns 20,966,400 shares of the company’s stock worth $1,174,118,000 after purchasing an additional 606,976 shares in the last quarter. Independent Franchise Partners LLP grew its stake in Molson Coors Brewing by 2.2% in the second quarter. Independent Franchise Partners LLP now owns 8,824,207 shares of the company’s stock worth $494,155,000 after purchasing an additional 193,283 shares in the last quarter. Invesco Ltd. boosted its position in Molson Coors Brewing by 53.4% during the 2nd quarter. Invesco Ltd. now owns 2,587,412 shares of the company’s stock valued at $144,894,000 after acquiring an additional 900,317 shares in the last quarter. Clarkston Capital Partners LLC boosted its position in Molson Coors Brewing by 19.9% during the 2nd quarter. Clarkston Capital Partners LLC now owns 1,540,870 shares of the company’s stock valued at $86,289,000 after acquiring an additional 255,950 shares in the last quarter. Finally, Equity Investment Corp boosted its position in Molson Coors Brewing by 3.0% during the 2nd quarter. Equity Investment Corp now owns 1,463,183 shares of the company’s stock valued at $81,938,000 after acquiring an additional 42,280 shares in the last quarter. 76.28% of the stock is currently owned by institutional investors.
In other news, VP Brian Tabolt sold 1,825 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $56.94, for a total transaction of $103,915.50. Following the completion of the sale, the vice president now owns 6,218 shares in the company, valued at approximately $354,052.92. 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 (NYSE:TAP) last issued its quarterly earnings data on Wednesday, July 31st. The company reported $1.52 EPS for the quarter, missing the 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 business had revenue of $2.95 billion for the quarter, compared to analysts’ expectations of $3.03 billion. During the same quarter in the prior year, the company posted $1.88 EPS. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. On average, research analysts predict that Molson Coors Brewing Co will post 4.35 earnings per share for the current year.
TAP has been the topic of several recent research reports. MKM Partners initiated coverage on Molson Coors Brewing in a research report on Thursday, September 19th. They set a “buy” rating and a $66.00 target price on the stock. Guggenheim dropped their target price on 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. Bryan, Garnier & Co reaffirmed a “sell” rating and set a $51.00 target price on shares of Molson Coors Brewing in a research report on Thursday, August 1st. Redburn Partners reaffirmed a “sell” rating on shares of Molson Coors Brewing in a research report on Friday, October 11th. Finally, Bank of America cut Molson Coors Brewing from a “buy” rating to an “underperform” rating in a research report on Monday, July 15th. Six analysts have rated the stock with a sell rating, four have issued a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $63.60.
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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