Molson Coors Brewing Co (NYSE:TAP) Sees Significant Growth in Short Interest

Molson Coors Brewing Co (NYSE:TAP) was the recipient of a significant growth in short interest in October. As of October 31st, there was short interest totalling 12,130,000 shares, a growth of 7.3% from the September 30th total of 11,300,000 shares. Currently, 7.0% of the shares of the stock are sold short. Based on an average daily volume of 1,630,000 shares, the short-interest ratio is presently 7.4 days.

TAP has been the subject of several recent research reports. 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. MKM Partners set a $63.00 price target on shares of Molson Coors Brewing and gave the stock a “buy” rating in a research report on Friday, November 1st. Berenberg Bank reissued a “hold” rating and issued a $51.00 price target on shares of Molson Coors Brewing in a research report on Friday, November 1st. ValuEngine raised shares of Molson Coors Brewing from a “strong sell” rating to a “sell” rating in a report on Wednesday, October 2nd. Finally, Guggenheim dropped their price objective on shares of Molson Coors Brewing from $63.00 to $52.00 and set a “neutral” rating for the company in a report on Thursday, August 1st. Six research analysts have rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $58.64.

Shares of NYSE TAP traded up $1.22 during mid-day trading on Friday, hitting $52.52. 1,811,656 shares of the stock were exchanged, compared to its average volume of 1,976,506. The company has a market cap of $11.10 billion, a P/E ratio of 10.42, a PEG ratio of 1.99 and a beta of 0.77. The stock’s fifty day simple moving average is $55.60 and its two-hundred day simple moving average is $55.50. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.42 and a current ratio of 0.59. Molson Coors Brewing has a twelve month low of $49.92 and a twelve month high of $67.24.

Molson Coors Brewing (NYSE:TAP) last posted its quarterly earnings data on Wednesday, October 30th. The company reported $1.48 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.46 by $0.02. The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $2.87 billion. Molson Coors Brewing had a net margin of 1.19% and a return on equity of 6.86%. The company’s revenue was down 3.1% on a year-over-year basis. During the same quarter last year, the business posted $1.84 earnings per share. As a group, equities research analysts predict that Molson Coors Brewing will post 4.3 earnings per share for the current fiscal year.

In related news, VP Brian Tabolt sold 1,825 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $56.94, for a total value of $103,915.50. Following the completion of the transaction, the vice president now owns 6,218 shares of the company’s stock, valued at $354,052.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.48% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Invesco Ltd. grew its stake in shares of Molson Coors Brewing by 53.4% during 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. AQR Capital Management LLC grew its stake in shares of Molson Coors Brewing by 195.1% during the second quarter. AQR Capital Management LLC now owns 1,313,808 shares of the company’s stock valued at $73,429,000 after purchasing an additional 868,575 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Molson Coors Brewing by 3.0% during 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. Nuveen Asset Management LLC grew its stake in shares of Molson Coors Brewing by 779.3% during the second quarter. Nuveen Asset Management LLC now owns 672,606 shares of the company’s stock valued at $37,665,000 after purchasing an additional 596,117 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. grew its stake in shares of Molson Coors Brewing by 97.1% during the third quarter. Diamond Hill Capital Management Inc. now owns 1,184,991 shares of the company’s stock valued at $68,137,000 after purchasing an additional 583,833 shares during the last quarter. 76.19% of the stock is owned by institutional investors.

Molson Coors Brewing Company 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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