Raymond James Financial Services Advisors Inc. trimmed its position in shares of Molson Coors Brewing Co Class B (NYSE:TAP) by 13.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 27,054 shares of the company’s stock after selling 4,167 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Molson Coors Brewing Co Class B were worth $1,841,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Amalgamated Bank increased its stake in shares of Molson Coors Brewing Co Class B by 3.8% during the second quarter. Amalgamated Bank now owns 22,499 shares of the company’s stock worth $1,531,000 after acquiring an additional 828 shares during the period. ARP Americas LP acquired a new position in Molson Coors Brewing Co Class B during the second quarter worth about $422,000. Deprince Race & Zollo Inc. grew its position in Molson Coors Brewing Co Class B by 29.7% during the second quarter. Deprince Race & Zollo Inc. now owns 302,614 shares of the company’s stock worth $20,590,000 after buying an additional 69,346 shares during the period. AMG Funds LLC acquired a new position in Molson Coors Brewing Co Class B during the second quarter worth about $1,360,000. Finally, Korea Investment CORP grew its position in Molson Coors Brewing Co Class B by 4,873.9% during the first quarter. Korea Investment CORP now owns 87,044 shares of the company’s stock worth $6,557,000 after buying an additional 85,294 shares during the period. Institutional investors and hedge funds own 77.46% of the company’s stock.

Several brokerages have weighed in on TAP. Susquehanna Bancshares upped their target price on shares of Molson Coors Brewing Co Class B from $80.00 to $84.00 and gave the stock a “positive” rating in a research report on Thursday, August 2nd. Morgan Stanley upped their target price on shares of Molson Coors Brewing Co Class B from $69.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 2nd. Zacks Investment Research upgraded shares of Molson Coors Brewing Co Class B from a “sell” rating to a “hold” rating in a research report on Saturday, July 7th. Stifel Nicolaus restated a “hold” rating and set a $65.00 target price (down from $71.00) on shares of Molson Coors Brewing Co Class B in a research report on Thursday, May 31st. Finally, Citigroup lowered their target price on shares of Molson Coors Brewing Co Class B from $88.00 to $74.00 and set a “buy” rating on the stock in a research report on Friday, May 4th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $80.92.

In other news, insider Krishnan Anand sold 2,595 shares of the stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $64.96, for a total value of $168,571.20. Following the sale, the insider now directly owns 49,946 shares in the company, valued at $3,244,492.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.55% of the stock is owned by corporate insiders.

TAP stock opened at $68.68 on Tuesday. The company has a market capitalization of $14.12 billion, a PE ratio of 15.36, a price-to-earnings-growth ratio of 2.09 and a beta of 0.73. Molson Coors Brewing Co Class B has a 12 month low of $58.75 and a 12 month high of $91.36. The company has a current ratio of 0.66, a quick ratio of 0.51 and a debt-to-equity ratio of 0.69.

Molson Coors Brewing Co Class B (NYSE:TAP) last released its quarterly earnings results on Wednesday, August 1st. The company reported $1.88 EPS for the quarter, beating the consensus estimate of $1.83 by $0.05. The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.08 billion. Molson Coors Brewing Co Class B had a net margin of 11.68% and a return on equity of 6.97%. The company’s quarterly revenue was down .2% on a year-over-year basis. During the same period in the prior year, the business earned $1.70 earnings per share. equities analysts anticipate that Molson Coors Brewing Co Class B will post 4.85 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 17th. Stockholders of record on Friday, August 31st will be given a $0.41 dividend. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $1.64 annualized dividend and a dividend yield of 2.39%. Molson Coors Brewing Co Class B’s dividend payout ratio is presently 36.69%.

Molson Coors Brewing Co Class B Company Profile

Molson Coors Brewing Company manufactures and sells beer and other beverage products in the United States, Canada, Europe, and internationally. It sells various products under the Coors Light, Miller Lite, Coors Banquet, the Blue Moon Brewing Company brands, the Jacob Leinenkugel Brewing Company brands, Keystone, Icehouse, Mickey's, Miller 64, Miller Genuine Draft, Miller High Life, Milwaukee's Best, Hamm's, Olde English 800, Steel Reserve, Crispin, Smith & Forge, Redd's, the Henry's Hard Soda, and Steel Reserve Alloy Series brands.

Featured Article: Understanding Price to Earnings Ratio (PE)

Institutional Ownership by Quarter for Molson Coors Brewing Co Class B (NYSE:TAP)

Receive News & Ratings for Molson Coors Brewing Co Class B Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Molson Coors Brewing Co Class B and related companies with MarketBeat.com's FREE daily email newsletter.