NGAM Advisors L.P. purchased a new position in Molson Coors Brewing Company (NYSE:TAP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 19,151 shares of the company’s stock, valued at approximately $1,653,000.

A number of other institutional investors also recently added to or reduced their stakes in the company. Amica Retiree Medical Trust bought a new position in Molson Coors Brewing during the first quarter worth about $105,000. Penserra Capital Management LLC increased its position 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 worth $114,000 after buying an additional 104 shares during the last quarter. Advisory Services Network LLC bought a new position in Molson Coors Brewing during the first quarter worth about $130,000. Lloyds Banking Group plc bought a new position in Molson Coors Brewing during the first quarter worth about $154,000. Finally, Foster & Motley Inc. bought a new position in Molson Coors Brewing during the first quarter worth about $208,000. 78.58% of the stock is owned by institutional investors.

Molson Coors Brewing Company (NYSE:TAP) opened at 90.87 on Tuesday. The company has a market cap of $19.57 billion, a P/E ratio of 9.08 and a beta of 0.91. The firm’s 50 day moving average is $88.25 and its 200-day moving average is $93.40. 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 posted its quarterly earnings results on Wednesday, August 2nd. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $2.04 by $0.38. Molson Coors Brewing had a net margin of 19.78% and a return on equity of 7.41%. The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the prior year, the firm posted $1.11 EPS. The company’s revenue for the quarter was down .6% compared to the same quarter last year. On average, analysts predict that Molson Coors Brewing Company will post $4.31 earnings per share for the current fiscal year.

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

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TAP has been the subject of a number of research reports. Susquehanna Bancshares Inc set a $114.00 price target on shares of Molson Coors Brewing and gave the stock a “buy” rating in a research note on Saturday, June 3rd. Stifel Nicolaus reissued a “buy” rating and issued a $111.00 price target on shares of Molson Coors Brewing in a research note on Friday, July 14th. Cowen and Company reissued a “hold” rating and issued a $96.00 price target on shares of Molson Coors Brewing in a research note on Friday, July 14th. Societe Generale downgraded shares of Molson Coors Brewing from a “buy” rating to a “hold” rating and decreased their price target for the stock from $118.00 to $98.00 in a research note on Thursday, May 4th. Finally, Credit Suisse Group set a $96.00 price target on shares of Molson Coors Brewing and gave the stock a “hold” rating in a research note on Thursday, August 3rd. Two research analysts have rated the stock with a sell rating, five have given a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $111.60.

In other news, CEO Gavin Hattersley sold 17,215 shares of the business’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $91.90, for a total value 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 approximately $9,118,042.30. The transaction was disclosed in a document filed with the SEC, which is available at 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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