Wilsey Asset Management Inc. Takes Position in Molson Coors Brewing Co (NYSE:TAP)

Wilsey Asset Management Inc. bought a new stake in Molson Coors Brewing Co (NYSE:TAP) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 314,583 shares of the company’s stock, valued at approximately $10,557,000. Molson Coors Brewing comprises about 4.6% of Wilsey Asset Management Inc.’s holdings, making the stock its 12th largest position. Wilsey Asset Management Inc. owned approximately 0.15% of Molson Coors Brewing at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of TAP. APG Asset Management N.V. grew its position in Molson Coors Brewing by 151.2% during the 1st quarter. APG Asset Management N.V. now owns 126,722 shares of the company’s stock worth $4,943,000 after purchasing an additional 76,276 shares during the last quarter. Balyasny Asset Management LLC acquired a new stake in shares of Molson Coors Brewing in the 1st quarter worth $815,000. Guggenheim Capital LLC lifted its stake in shares of Molson Coors Brewing by 10.6% in the first quarter. Guggenheim Capital LLC now owns 190,602 shares of the company’s stock valued at $7,435,000 after purchasing an additional 18,269 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Molson Coors Brewing by 103.6% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 83,062 shares of the company’s stock valued at $2,854,000 after purchasing an additional 42,271 shares during the period. Finally, Cypress Capital Group lifted its stake in shares of Molson Coors Brewing by 173.7% in the second quarter. Cypress Capital Group now owns 14,926 shares of the company’s stock valued at $513,000 after purchasing an additional 9,473 shares during the period. 74.19% of the stock is currently owned by hedge funds and other institutional investors.

In other Molson Coors Brewing news, Director Louis Vachon acquired 3,000 shares of the firm’s stock in a transaction on Monday, September 14th. The stock was bought at an average cost of $35.28 per share, for a total transaction of $105,840.00. Following the completion of the purchase, the director now directly owns 26,467 shares in the company, valued at $933,755.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 2.43% of the stock is owned by insiders.

TAP traded down $0.17 during trading on Friday, hitting $35.40. 1,547,550 shares of the company’s stock were exchanged, compared to its average volume of 2,346,057. The company has a current ratio of 0.67, a quick ratio of 0.50 and a debt-to-equity ratio of 0.61. Molson Coors Brewing Co has a 1 year low of $32.11 and a 1 year high of $61.94. The stock has a 50 day moving average price of $35.45 and a 200 day moving average price of $37.82. The firm has a market cap of $7.67 billion, a P/E ratio of -47.20, a price-to-earnings-growth ratio of 1.59 and a beta of 0.86.

Molson Coors Brewing (NYSE:TAP) last released its quarterly earnings data on Thursday, July 30th. The company reported $1.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.68 by $0.87. Molson Coors Brewing had a negative net margin of 1.33% and a positive return on equity of 7.18%. The company had revenue of $2.50 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the previous year, the firm earned $1.52 earnings per share. Molson Coors Brewing’s revenue for the quarter was down 15.1% on a year-over-year basis. Analysts forecast that Molson Coors Brewing Co will post 3.69 earnings per share for the current fiscal year.

A number of equities analysts have issued reports on TAP shares. Guggenheim lifted their target price on shares of Molson Coors Brewing from $58.00 to $62.00 and gave the stock a “buy” rating in a research report on Wednesday, October 7th. Bryan, Garnier & Co upgraded shares of Molson Coors Brewing from a “sell” rating to a “buy” rating and set a $49.00 target price for the company in a research report on Wednesday, July 15th. Credit Suisse Group started coverage on shares of Molson Coors Brewing in a research report on Monday, July 13th. They set a “sell” rating and a $31.00 target price for the company. ValuEngine cut shares of Molson Coors Brewing from a “sell” rating to a “strong sell” rating in a research report on Thursday, August 6th. Finally, Barclays restated a “hold” rating and set a $40.00 target price on shares of Molson Coors Brewing in a research report on Sunday, July 19th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $47.07.

About Molson Coors Brewing

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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