Brave Asset Management Inc. Purchases Shares of 3,590 Molson Coors Brewing Co (NYSE:TAP)

Brave Asset Management Inc. purchased a new stake in Molson Coors Brewing Co (NYSE:TAP) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 3,590 shares of the company’s stock, valued at approximately $206,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its holdings in shares of Molson Coors Brewing by 3.0% in the second quarter. Vanguard Group Inc. now owns 20,966,400 shares of the company’s stock valued at $1,174,118,000 after purchasing an additional 606,976 shares during the last quarter. Independent Franchise Partners LLP raised its holdings in shares of 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 valued at $494,155,000 after purchasing an additional 193,283 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Molson Coors Brewing by 53.4% in the second quarter. Invesco Ltd. now owns 2,587,412 shares of the company’s stock valued at $144,894,000 after purchasing an additional 900,317 shares during the last quarter. Clarkston Capital Partners LLC raised its holdings in shares of Molson Coors Brewing by 19.9% in the second quarter. Clarkston Capital Partners LLC now owns 1,540,870 shares of the company’s stock valued at $86,289,000 after purchasing an additional 255,950 shares during the last quarter. Finally, Equity Investment Corp raised its holdings in shares of Molson Coors Brewing by 3.0% in the second quarter. Equity Investment Corp now owns 1,463,183 shares of the company’s stock valued at $81,938,000 after purchasing an additional 42,280 shares during the last quarter. 76.34% of the stock is currently owned by hedge funds and other institutional investors.

In related news, VP Brian Tabolt sold 1,825 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $56.94, for a total transaction of $103,915.50. Following the transaction, the vice president now directly owns 6,218 shares in the company, valued at $354,052.92. The sale was disclosed in a filing with the SEC, which is available through this link. 2.48% of the stock is currently owned by insiders.

A number of analysts have recently issued reports on the stock. BMO Capital Markets lifted their price objective on shares of Molson Coors Brewing to $65.00 in a report on Thursday, August 1st. ValuEngine upgraded shares of Molson Coors Brewing from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Bank of America downgraded shares of Molson Coors Brewing from a “buy” rating to an “underperform” rating in a report on Monday, July 15th. MKM Partners assumed coverage on shares of Molson Coors Brewing in a report on Thursday, September 19th. They issued a “buy” rating and a $66.00 price objective on the stock. Finally, Redburn Partners reiterated a “sell” rating on shares of Molson Coors Brewing in a report on Friday, October 11th. Six investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have assigned a buy rating to the company’s stock. Molson Coors Brewing has an average rating of “Hold” and a consensus target price of $62.67.

Shares of TAP opened at $58.90 on Friday. The company has a market cap of $12.83 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 2.50 and a beta of 0.78. Molson Coors Brewing Co has a 1-year low of $49.92 and a 1-year high of $67.62. The company’s fifty day simple moving average is $56.29 and its 200 day simple moving average is $56.24. The company has a current ratio of 0.64, a quick ratio of 0.47 and a debt-to-equity ratio of 0.60.

Molson Coors Brewing (NYSE:TAP) last issued its earnings results on Wednesday, July 31st. The company reported $1.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.65 by ($0.13). The firm had revenue of $2.95 billion for the quarter, compared to analyst estimates of $3.03 billion. Molson Coors Brewing had a return on equity of 7.33% and a net margin of 6.85%. Molson Coors Brewing’s quarterly revenue was down 4.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.88 earnings per share. As a group, research analysts forecast that Molson Coors Brewing Co will post 4.35 earnings per share for the current year.

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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