Molson Coors Brewing Co (NYSE:TAP) Sees Significant Increase in Short Interest

Molson Coors Brewing Co (NYSE:TAP) was the target of a significant growth in short interest in January. As of January 31st, there was short interest totalling 13,520,000 shares, a growth of 10.7% from the January 15th total of 12,210,000 shares. Based on an average daily volume of 1,770,000 shares, the short-interest ratio is currently 7.6 days. Approximately 7.8% of the company’s stock are sold short.

Several institutional investors and hedge funds have recently made changes to their positions in TAP. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Molson Coors Brewing by 69,444.4% during the fourth quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 2,026,524 shares of the company’s stock valued at $109,230,000 after acquiring an additional 2,023,610 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Molson Coors Brewing by 44.8% during the fourth quarter. Bank of New York Mellon Corp now owns 2,685,452 shares of the company’s stock valued at $144,747,000 after acquiring an additional 830,781 shares in the last quarter. Retirement Systems of Alabama increased its position in shares of Molson Coors Brewing by 758.2% during the fourth quarter. Retirement Systems of Alabama now owns 705,961 shares of the company’s stock valued at $38,051,000 after acquiring an additional 623,700 shares in the last quarter. Diamond Hill Capital Management Inc. increased its position in shares of Molson Coors Brewing by 97.1% during the third quarter. Diamond Hill Capital Management Inc. now owns 1,184,991 shares of the company’s stock valued at $68,137,000 after acquiring an additional 583,833 shares in the last quarter. Finally, State Street Corp increased its position in shares of Molson Coors Brewing by 6.5% during the third quarter. State Street Corp now owns 9,106,295 shares of the company’s stock valued at $523,612,000 after acquiring an additional 559,607 shares in the last quarter. 77.83% of the stock is owned by institutional investors.

Shares of TAP traded down $0.11 on Friday, hitting $55.25. 2,110,155 shares of the stock traded hands, compared to its average volume of 1,768,577. The company has a market capitalization of $12.51 billion, a PE ratio of 77.82, a P/E/G ratio of 2.43 and a beta of 0.78. The company has a debt-to-equity ratio of 0.60, a quick ratio of 0.42 and a current ratio of 0.59. The business has a 50 day simple moving average of $55.70 and a 200 day simple moving average of $54.16. Molson Coors Brewing has a one year low of $49.82 and a one year high of $64.32.

Molson Coors Brewing (NYSE:TAP) last announced its quarterly earnings results on Wednesday, February 12th. The company reported $1.02 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.24. The company had revenue of $2.49 billion during the quarter, compared to the consensus estimate of $2.48 billion. Molson Coors Brewing had a net margin of 1.19% and a return on equity of 6.86%. The firm’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.84 earnings per share. On average, equities analysts expect that Molson Coors Brewing will post 4.28 earnings per share for the current year.

A number of brokerages have weighed in on TAP. Barclays downgraded shares of Molson Coors Brewing from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $59.00 to $54.00 in a research note on Monday, November 25th. Zacks Investment Research raised shares of Molson Coors Brewing from a “sell” rating to a “hold” rating and set a $55.00 target price for the company in a research note on Monday, November 4th. MKM Partners set a $63.00 target price on shares of Molson Coors Brewing and gave the company a “buy” rating in a research note on Friday, November 1st. Berenberg Bank reaffirmed a “hold” rating and set a $51.00 target price on shares of Molson Coors Brewing in a research note on Friday, November 1st. Finally, Citigroup raised their target price on shares of Molson Coors Brewing from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Thursday. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $55.17.

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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