Rhumbline Advisers raised its position in shares of Molson Coors Brewing Company (NYSE:TAP) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 322,469 shares of the company’s stock after buying an additional 1,164 shares during the period. Rhumbline Advisers’ holdings in Molson Coors Brewing were worth $27,842,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. raised its position in shares of Molson Coors Brewing by 3,905.7% in the first quarter. BlackRock Inc. now owns 10,676,010 shares of the company’s stock worth $1,021,799,000 after buying an additional 10,409,488 shares during the period. Independent Franchise Partners LLP acquired a new position in shares of Molson Coors Brewing during the second quarter worth approximately $444,131,000. FMR LLC raised its position in shares of Molson Coors Brewing by 33.3% in the first quarter. FMR LLC now owns 17,667,627 shares of the company’s stock worth $1,690,969,000 after buying an additional 4,417,205 shares during the period. Diamond Hill Capital Management Inc. raised its position in shares of Molson Coors Brewing by 353.7% in the second quarter. Diamond Hill Capital Management Inc. now owns 2,627,608 shares of the company’s stock worth $226,868,000 after buying an additional 2,048,467 shares during the period. Finally, Renaissance Technologies LLC raised its position in shares of Molson Coors Brewing by 909.0% in the first quarter. Renaissance Technologies LLC now owns 922,200 shares of the company’s stock worth $88,264,000 after buying an additional 830,800 shares during the period. 78.58% of the stock is currently owned by institutional investors.

Molson Coors Brewing Company (NYSE TAP) opened at 90.87 on Tuesday. Molson Coors Brewing Company has a 52 week low of $85.34 and a 52 week high of $112.19. The company has a market cap of $19.57 billion, a PE ratio of 9.08 and a beta of 0.91. The company’s 50-day moving average price is $88.25 and its 200 day moving average price is $93.40.

Molson Coors Brewing (NYSE:TAP) last released its earnings results on Wednesday, August 2nd. The company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $2.04 by $0.38. The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.10 billion. Molson Coors Brewing had a return on equity of 7.41% and a net margin of 19.78%. The company’s revenue was down .6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.11 EPS. On average, analysts anticipate that Molson Coors Brewing Company will post $4.31 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be given a dividend of $0.41 per share. The ex-dividend date is Tuesday, August 29th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.80%. Molson Coors Brewing ‘s payout ratio is currently 16.38%.

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TAP has been the topic of a number of research analyst reports. BidaskClub lowered Molson Coors Brewing from a “sell” rating to a “strong sell” rating in a report on Thursday, June 22nd. Susquehanna Bancshares Inc reissued a “positive” rating and set a $117.00 price target (up from $114.00) on shares of Molson Coors Brewing in a report on Wednesday, June 7th. Cowen and Company lowered Molson Coors Brewing from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $120.00 to $105.00 in a report on Thursday, April 20th. UBS AG reissued a “neutral” rating and set a $98.00 price target (up from $96.00) on shares of Molson Coors Brewing in a report on Thursday, August 3rd. Finally, Societe Generale lowered Molson Coors Brewing from a “buy” rating to a “hold” rating and lowered their price target for the company from $118.00 to $98.00 in a report on Thursday, May 4th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, five have given a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $111.60.

In other news, CEO Gavin Hattersley sold 17,215 shares of the business’s stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $91.90, for a total transaction of $1,582,058.50. Following the completion of the sale, the chief executive officer now owns 99,217 shares in the company, valued at $9,118,042.30. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.53% of the company’s stock.

About Molson Coors Brewing

Molson Coors Brewing Company (MCBC) is a holding company. The Company operates as a brewer. The Company’s segments include MillerCoors LLC (United States segment), operating in the United States; Molson Coors Canada (Canada segment), operating in Canada; Molson Coors Europe (Europe segment), operating in Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, Republic of Ireland, Romania, Serbia, the United Kingdom and various other European countries; Molson Coors International (Molson Coors International segment), operating in various other countries, and Corporate.

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

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