Hayek Kallen Investment Management Raises Stock Holdings in Molson Coors Brewing Co (NYSE:TAP)

Hayek Kallen Investment Management lifted its holdings in shares of Molson Coors Brewing Co (NYSE:TAP) by 1.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 40,662 shares of the company’s stock after purchasing an additional 701 shares during the quarter. Molson Coors Brewing accounts for approximately 1.5% of Hayek Kallen Investment Management’s portfolio, making the stock its 27th largest position. Hayek Kallen Investment Management’s holdings in Molson Coors Brewing were worth $2,338,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. RNC Capital Management LLC raised its position in Molson Coors Brewing by 3.6% during the 2nd quarter. RNC Capital Management LLC now owns 5,700 shares of the company’s stock valued at $319,000 after purchasing an additional 200 shares in the last quarter. State of Michigan Retirement System grew its stake in Molson Coors Brewing by 0.4% during the 3rd quarter. State of Michigan Retirement System now owns 45,199 shares of the company’s stock worth $2,599,000 after buying an additional 200 shares during the last quarter. 6 Meridian grew its stake in Molson Coors Brewing by 2.8% during the 2nd quarter. 6 Meridian now owns 7,969 shares of the company’s stock worth $446,000 after buying an additional 218 shares during the last quarter. Old North State Trust LLC grew its stake in Molson Coors Brewing by 17.3% during the 2nd quarter. Old North State Trust LLC now owns 1,596 shares of the company’s stock worth $89,000 after buying an additional 235 shares during the last quarter. Finally, FinTrust Capital Advisors LLC grew its stake in Molson Coors Brewing by 49.9% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 706 shares of the company’s stock worth $41,000 after buying an additional 235 shares during the last quarter. 76.16% of the stock is owned by institutional investors.

In related news, VP Brian Tabolt sold 1,825 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was 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 approximately $354,052.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 2.48% of the company’s stock.

Several brokerages recently weighed in on TAP. Redburn Partners restated a “sell” rating on shares of Molson Coors Brewing in a research note on Friday, October 11th. Berenberg Bank reiterated a “hold” rating and set a $51.00 price target on shares of Molson Coors Brewing in a research note on Friday, November 1st. Zacks Investment Research upgraded Molson Coors Brewing from a “sell” rating to a “hold” rating and set a $55.00 price target on the stock in a research note on Monday, November 4th. Bank of America downgraded Molson Coors Brewing from a “buy” rating to an “underperform” rating in a research note on Monday, July 15th. Finally, Guggenheim dropped their price target on Molson Coors Brewing from $63.00 to $52.00 and set a “neutral” rating on the stock in a research note on Thursday, August 1st. Six equities research analysts have rated the stock with a sell rating, five have given a hold rating and four have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $58.64.

Shares of TAP traded up $0.28 during mid-day trading on Friday, reaching $53.79. The company had a trading volume of 1,043,371 shares, compared to its average volume of 1,685,607. Molson Coors Brewing Co has a 52-week low of $49.92 and a 52-week high of $67.24. The company has a quick ratio of 0.42, a current ratio of 0.59 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $11.77 billion, a P/E ratio of 10.67, a PEG ratio of 2.11 and a beta of 0.77. The stock has a 50 day moving average of $56.00 and a two-hundred day moving average of $55.78.

Molson Coors Brewing (NYSE:TAP) last released its quarterly earnings results on Wednesday, October 30th. The company reported $1.48 earnings per share for the quarter, topping analysts’ consensus estimates of $1.46 by $0.02. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $2.87 billion. Molson Coors Brewing had a return on equity of 6.86% and a net margin of 1.19%. Molson Coors Brewing’s quarterly revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.84 EPS. On average, sell-side analysts expect that Molson Coors Brewing Co will post 4.3 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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