Mitsubishi UFJ Kokusai Asset Management Co. Ltd. decreased its stake in shares of Molson Coors Brewing Company (NYSE:TAP) by 10.3% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 27,078 shares of the company’s stock after selling 3,110 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Molson Coors Brewing were worth $2,338,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in TAP. Amica Retiree Medical Trust bought a new stake in Molson Coors Brewing during the first quarter valued at approximately $105,000. Penserra Capital Management LLC boosted its stake in Molson Coors Brewing by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,196 shares of the company’s stock valued at $114,000 after buying an additional 104 shares during the period. Bessemer Group Inc. boosted its stake in Molson Coors Brewing by 12.8% in the second quarter. Bessemer Group Inc. now owns 1,230 shares of the company’s stock valued at $106,000 after buying an additional 140 shares during the period. Advisory Services Network LLC bought a new stake in Molson Coors Brewing during the first quarter valued at approximately $130,000. Finally, Lloyds Banking Group plc bought a new stake in Molson Coors Brewing during the first quarter valued at approximately $154,000. 78.58% of the stock is currently owned by institutional investors and hedge funds.

Molson Coors Brewing Company (NYSE:TAP) opened at 90.87 on Tuesday. Molson Coors Brewing Company has a one year low of $85.34 and a one year high of $112.19. The company has a 50-day moving average of $88.25 and a 200 day moving average of $93.40. The firm has a market capitalization of $19.57 billion, a price-to-earnings ratio of 9.08 and a beta of 0.91.

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

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be given a dividend of $0.41 per share. The ex-dividend date of this dividend 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 presently 16.38%.

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Several research firms have recently commented on TAP. UBS AG reissued a “neutral” rating and set a $100.00 price target (down from $108.00) on shares of Molson Coors Brewing in a research note on Friday, May 5th. Credit Suisse Group set a $96.00 price target on shares of Molson Coors Brewing and gave the company a “hold” rating in a research note on Thursday, August 3rd. Susquehanna Bancshares Inc set a $114.00 price target on shares of Molson Coors Brewing and gave the company a “buy” rating in a research note on Saturday, June 3rd. Zacks Investment Research cut shares of Molson Coors Brewing from a “hold” rating to a “strong sell” rating in a research note on Tuesday, August 8th. Finally, Cowen and Company increased their price target on shares of Molson Coors Brewing from $96.00 to $100.00 and gave the company a “market perform” rating in a research note on Friday, June 9th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $111.60.

In other Molson Coors Brewing news, CEO Gavin Hattersley sold 17,215 shares of the company’s stock in a transaction on Thursday, August 3rd. The shares were sold at an average price of $91.90, for a total transaction of $1,582,058.50. Following the transaction, 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 accessible through this link. 2.53% of the stock is owned by insiders.

Molson Coors Brewing Company Profile

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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