New Mexico Educational Retirement Board decreased its position in Molson Coors Brewing Company (NYSE:TAP) by 8.0% during the second quarter, Holdings Channel reports. The firm owned 17,182 shares of the company’s stock after selling 1,500 shares during the period. New Mexico Educational Retirement Board’s holdings in Molson Coors Brewing were worth $1,529,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. increased its position in 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 purchased a new position in Molson Coors Brewing during the second quarter worth $444,131,000. FMR LLC increased its position in 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. increased its position in 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 increased its position in 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. 79.50% of the stock is currently owned by institutional investors and hedge funds.

Shares of Molson Coors Brewing Company (NYSE:TAP) opened at 90.40 on Friday. The stock has a 50 day moving average price of $88.12 and a 200 day moving average price of $93.49. The stock has a market capitalization of $19.46 billion, a P/E ratio of 9.03 and a beta of 0.91. Molson Coors Brewing Company has a 52 week low of $85.34 and a 52 week high of $112.19.

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

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be given a $0.41 dividend. 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 1.81%. Molson Coors Brewing ‘s dividend payout ratio is currently 16.38%.

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A number of research analysts recently weighed in on TAP shares. BidaskClub downgraded Molson Coors Brewing from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 22nd. Susquehanna Bancshares Inc reaffirmed a “positive” rating and set a $117.00 price target (up from $114.00) on shares of Molson Coors Brewing in a research note on Wednesday, June 7th. Cowen and Company downgraded Molson Coors Brewing from an “outperform” rating to a “market perform” rating and dropped their price target for the stock from $120.00 to $105.00 in a research note on Thursday, April 20th. Societe Generale downgraded Molson Coors Brewing from a “buy” rating to a “hold” rating and dropped their price target for the stock from $118.00 to $98.00 in a research note on Thursday, May 4th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $111.00 price target on shares of Molson Coors Brewing in a research note on Friday, July 14th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Molson Coors Brewing has a consensus rating of “Hold” and a consensus target price of $111.60.

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

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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