Great West Life Assurance Co. Can boosted its stake in Molson Coors Brewing Company (NYSE:TAP) by 3.3% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 129,921 shares of the company’s stock after buying an additional 4,192 shares during the quarter. Great West Life Assurance Co. Can owned approximately 0.06% of Molson Coors Brewing worth $10,555,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its stake in shares of Molson Coors Brewing by 0.3% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,719 shares of the company’s stock worth $1,184,000 after acquiring an additional 42 shares during the period. Utah Retirement Systems grew its stake in shares of Molson Coors Brewing by 0.3% during the 2nd quarter. Utah Retirement Systems now owns 31,603 shares of the company’s stock worth $2,729,000 after acquiring an additional 100 shares during the period. State of Tennessee Treasury Department grew its stake in shares of Molson Coors Brewing by 0.3% during the 2nd quarter. State of Tennessee Treasury Department now owns 50,506 shares of the company’s stock worth $4,361,000 after acquiring an additional 130 shares during the period. Bessemer Group Inc. grew its stake in shares of Molson Coors Brewing by 12.8% during the 2nd quarter. Bessemer Group Inc. now owns 1,230 shares of the company’s stock worth $106,000 after acquiring an additional 140 shares during the period. Finally, Bahl & Gaynor Inc. grew its stake in shares of Molson Coors Brewing by 6.5% during the 2nd quarter. Bahl & Gaynor Inc. now owns 2,650 shares of the company’s stock worth $258,000 after acquiring an additional 161 shares during the period. 78.00% of the stock is owned by institutional investors and hedge funds.

Shares of Molson Coors Brewing Company (NYSE TAP) traded up $1.30 during midday trading on Tuesday, hitting $80.51. The company had a trading volume of 1,587,000 shares, compared to its average volume of 1,602,580. The stock has a market cap of $17,061.83, a PE ratio of 18.77, a price-to-earnings-growth ratio of 2.32 and a beta of 0.83. The company has a current ratio of 0.69, a quick ratio of 0.54 and a debt-to-equity ratio of 0.83. Molson Coors Brewing Company has a 52 week low of $76.25 and a 52 week high of $102.14.

Molson Coors Brewing (NYSE:TAP) last announced its quarterly earnings data on Wednesday, November 1st. The company reported $1.34 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.34. Molson Coors Brewing had a return on equity of 7.54% and a net margin of 17.04%. The company had revenue of $2.88 billion for the quarter, compared to analysts’ expectations of $2.97 billion. During the same period last year, the firm posted $1.03 EPS. Molson Coors Brewing’s revenue for the quarter was up 204.3% compared to the same quarter last year. sell-side analysts anticipate that Molson Coors Brewing Company will post 4.34 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 15th. Investors of record on Thursday, November 30th will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Wednesday, November 29th. This represents a $1.64 annualized dividend and a yield of 2.04%. Molson Coors Brewing’s payout ratio is 15.83%.

A number of brokerages recently issued reports on TAP. Citigroup dropped their price objective on Molson Coors Brewing from $106.00 to $102.00 and set a “buy” rating on the stock in a report on Friday, November 3rd. Berenberg Bank reissued a “sell” rating and set a $76.00 price objective on shares of Molson Coors Brewing in a report on Friday, November 3rd. Susquehanna Bancshares set a $108.00 price objective on Molson Coors Brewing and gave the stock a “buy” rating in a report on Wednesday, November 1st. Zacks Investment Research raised Molson Coors Brewing from a “sell” rating to a “hold” rating in a report on Tuesday, October 17th. Finally, Credit Suisse Group set a $92.00 price target on Molson Coors Brewing and gave the company a “hold” rating in a report on Friday, September 29th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Molson Coors Brewing currently has a consensus rating of “Hold” and an average target price of $98.92.

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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.

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

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