Molson Coors Brewing Co (NYSE:TAP) Short Interest Up 7.3% in October

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

Shares of NYSE:TAP traded down $0.56 on Monday, hitting $51.96. The company had a trading volume of 58,950 shares, compared to its average volume of 1,976,506. The company has a current ratio of 0.59, a quick ratio of 0.42 and a debt-to-equity ratio of 0.60. Molson Coors Brewing has a 52-week low of $49.92 and a 52-week high of $67.24. The business has a 50 day moving average of $55.60 and a 200 day moving average of $55.50. The company has a market cap of $11.10 billion, a PE ratio of 10.31, a PEG ratio of 1.99 and a beta of 0.77.

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

A number of analysts recently weighed in on TAP shares. Deutsche Bank decreased their price target on Molson Coors Brewing from $56.00 to $50.00 and set a “hold” rating on the stock in a research note on Thursday, October 31st. MKM Partners set a $63.00 price target on Molson Coors Brewing and gave the company a “buy” rating in a research note on Friday, November 1st. Citigroup set a $60.00 price target on Molson Coors Brewing and gave the company a “buy” rating in a research note on Friday, November 1st. ValuEngine upgraded Molson Coors Brewing from a “strong sell” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, BMO Capital Markets lifted their price target on Molson Coors Brewing to $65.00 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 has a consensus rating of “Hold” and an average price target of $58.64.

In other news, VP Brian Tabolt sold 1,825 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $56.94, for a total value of $103,915.50. Following 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 filing with the SEC, which is available at the SEC website. Insiders own 2.48% of the company’s stock.

Large investors have recently modified their holdings of the company. CWM LLC lifted its position in shares of Molson Coors Brewing by 1,000.0% in the third quarter. CWM LLC now owns 550 shares of the company’s stock valued at $32,000 after acquiring an additional 500 shares in the last quarter. Ossiam purchased a new stake in shares of Molson Coors Brewing in the second quarter valued at $31,000. Parkside Financial Bank & Trust lifted its position in shares of Molson Coors Brewing by 141.3% in the third quarter. Parkside Financial Bank & Trust now owns 567 shares of the company’s stock valued at $33,000 after acquiring an additional 332 shares in the last quarter. Massey Quick Simon & CO. LLC purchased a new stake in shares of Molson Coors Brewing in the third quarter valued at $35,000. Finally, Capital Bank & Trust Co purchased a new stake in shares of Molson Coors Brewing in the second quarter valued at $39,000. Institutional investors and hedge funds own 76.58% of the company’s stock.

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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