Today, Sei Investments Co. Buys 72,822 Shares of Molson Coors Brewing Co. (TAP)

Today, Sei Investments Co. Buys 72,822 Shares of Molson Coors Brewing Co. (TAP)
Sei Investments Co. raised its stake in Molson Coors Brewing Co. (NYSE:TAP) by 37.0% during the third quarter, according to its most recent filing with the SEC. The firm owned 269,514 shares of the company’s stock after buying an additional 72,822 shares during the period. Sei Investments Co. owned approximately 0.13% of Molson Coors Brewing worth $29,593,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Aberdeen Asset Management PLC UK raised its stake in Molson Coors Brewing by 2.7% in the second quarter. Aberdeen Asset Management PLC UK now owns 341,964 shares of the company’s stock valued at $34,582,000 after buying an additional 9,044 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Molson Coors Brewing by 0.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 521,695 shares of the company’s stock valued at $52,759,000 after buying an additional 4,309 shares during the last quarter. CIBC Asset Management Inc raised its stake in Molson Coors Brewing by 6.9% in the second quarter. CIBC Asset Management Inc now owns 32,685 shares of the company’s stock valued at $3,305,000 after buying an additional 2,116 shares during the last quarter. Westpac Banking Corp raised its stake in Molson Coors Brewing by 1.1% in the second quarter. Westpac Banking Corp now owns 12,579 shares of the company’s stock valued at $1,215,000 after buying an additional 140 shares during the last quarter. Finally, LPL Financial LLC raised its stake in Molson Coors Brewing by 85.2% in the first quarter. LPL Financial LLC now owns 26,821 shares of the company’s stock valued at $2,521,000 after buying an additional 12,335 shares during the last quarter. Institutional investors own 76.60% of the company’s stock.

Molson Coors Brewing Co. (NYSE:TAP) traded up 1.10% during trading on Friday, reaching $99.98. 304,106 shares of the company’s stock were exchanged. Molson Coors Brewing Co. has a 52 week low of $80.78 and a 52 week high of $112.19. The stock has a 50-day moving average of $104.70 and a 200-day moving average of $102.10. The stock has a market capitalization of $21.48 billion, a PE ratio of 36.09 and a beta of 0.98.

Molson Coors Brewing (NYSE:TAP) last released its earnings results on Tuesday, November 1st. The company reported $1.03 earnings per share for the quarter, missing the consensus estimate of $1.05 by $0.02. The firm earned $947.60 million during the quarter, compared to analyst estimates of $985.75 million. Molson Coors Brewing had a net margin of 11.48% and a return on equity of 7.21%. The business’s revenue was down 6.9% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.40 earnings per share. On average, equities research analysts anticipate that Molson Coors Brewing Co. will post $5.74 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, December 15th. Shareholders of record on Wednesday, November 30th will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 1.66%. The ex-dividend date is Monday, November 28th. Molson Coors Brewing’s dividend payout ratio is currently 60.74%.

TAP has been the subject of several analyst reports. Citigroup Inc. increased their price target on shares of Molson Coors Brewing from $115.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, September 19th. Susquehanna reissued a “buy” rating on shares of Molson Coors Brewing in a research report on Monday, August 8th. Stifel Nicolaus increased their price target on shares of Molson Coors Brewing from $136.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday, August 3rd. Bank of America Corp. initiated coverage on shares of Molson Coors Brewing in a research report on Monday, October 10th. They set a “buy” rating and a $140.00 price target for the company. Finally, Goldman Sachs Group Inc. initiated coverage on shares of Molson Coors Brewing in a research report on Monday, October 10th. They issued a “buy” rating and a $130.00 price objective for the company. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $129.71.

In other news, CEO Krishnan Anand sold 13,000 shares of the business’s stock in a transaction dated Wednesday, September 28th. The stock was sold at an average price of $110.64, for a total transaction of $1,438,320.00. Following the completion of the transaction, the chief executive officer now directly owns 35,705 shares of the company’s stock, valued at $3,950,401.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. 2.53% of the stock is owned by company insiders.

Molson Coors Brewing Company Profile

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