Today: The Quantitative Systematic Strategies LLC decides to keep it stake in Molson Coors Brewing Co. (TAP) to the level of $205,000

The Quantitative Systematic Strategies LLC decides to keep it stake in Molson Coors Brewing Co. (TAP) to the level of $205,000

Quantitative Systematic Strategies LLC decreased its stake in shares of Molson Coors Brewing Co. (NYSE:TAP) by 18.9% during the second quarter, Holdings Channel reports. The firm owned 2,080 shares of the company’s stock after selling 484 shares during the period. Quantitative Systematic Strategies LLC’s holdings in Molson Coors Brewing were worth $205,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP raised its stake in Molson Coors Brewing by 535.6% in the first quarter. Wellington Management Group LLP now owns 7,090,526 shares of the company’s stock valued at $681,965,000 after buying an additional 5,975,046 shares during the period. Lazard Asset Management LLC increased its position in Molson Coors Brewing by 174.4% in the first quarter. Lazard Asset Management LLC now owns 6,543,563 shares of the company’s stock valued at $629,357,000 after buying an additional 4,158,485 shares in the last quarter. State Street Corp increased its position in Molson Coors Brewing by 19.9% in the first quarter. State Street Corp now owns 7,526,410 shares of the company’s stock valued at $723,884,000 after buying an additional 1,247,903 shares in the last quarter. Magnetar Financial LLC bought a new position in Molson Coors Brewing during the first quarter valued at approximately $41,026,000. Finally, Geode Capital Management LLC increased its position in Molson Coors Brewing by 18.9% in the first quarter. Geode Capital Management LLC now owns 1,480,123 shares of the company’s stock valued at $142,068,000 after buying an additional 235,490 shares in the last quarter. Institutional investors and hedge funds own 77.65% of the company’s stock.

Molson Coors Brewing Co. (NYSE:TAP) traded down 0.77% during mid-day trading on Monday, hitting $110.39. 1,134,508 shares of the stock were exchanged. The firm has a market cap of $23.71 billion, a P/E ratio of 57.23 and a beta of 0.88. The company has a 50 day moving average of $106.06 and a 200 day moving average of $100.71. Molson Coors Brewing Co. has a 12-month low of $80.78 and a 12-month high of $112.19.

Molson Coors Brewing (NYSE:TAP) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $1.11 earnings per share for the quarter, meeting the consensus estimate of $1.11. The firm had revenue of $986.20 million for the quarter, compared to analysts’ expectations of $970.25 million. Molson Coors Brewing had a net margin of 7.54% and a return on equity of 8.21%. The company’s revenue was down 1.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.41 EPS. On average, equities analysts anticipate that Molson Coors Brewing Co. will post $3.29 earnings per share for the current fiscal year.

Several research analysts recently commented on TAP shares. Zacks Investment Research downgraded shares of Molson Coors Brewing from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, July 5th. Stifel Nicolaus reaffirmed a “top pick” rating on shares of Molson Coors Brewing in a research note on Wednesday, July 6th. Bryan, Garnier & Co raised shares of Molson Coors Brewing to a “buy” rating in a research note on Friday, July 8th. Susquehanna reaffirmed a “buy” rating and issued a $130.00 price target on shares of Molson Coors Brewing in a research note on Sunday, July 17th. Finally, Citigroup Inc. raised shares of Molson Coors Brewing from a “neutral” rating to a “buy” rating and raised their price target for the stock from $101.00 to $115.00 in a research note on Friday, July 29th. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $122.10.

In other Molson Coors Brewing news, CEO Krishnan Anand sold 13,000 shares of the company’s stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $110.64, for a total value of $1,438,320.00. Following the transaction, the chief executive officer now owns 35,705 shares of the company’s stock, valued at $3,950,401.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Andrew Thomas Molson sold 1,173 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $99.49, for a total transaction of $116,701.77. Following the completion of the transaction, the director now directly owns 6,834 shares in the company, valued at approximately $679,914.66. The disclosure for this sale can be found here. 2.53% of the stock is currently owned by company insiders.

About Molson Coors Brewing

Molson Coors Brewing Company (MCBC) is a holding company that operates as a brewer. The Company has a portfolio of brands, including Carling, Coors Light, Molson Canadian and Staropramen, as well as craft and specialty beers, such as Blue Moon, Creemore Springs, Cobra and Doom Bar. The Company operates through four segments: Molson Coors Canada (MCC or Canada segment); MillerCoors LLC (MillerCoors or U.S.

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