Ontario Teachers Pension Plan Board trimmed its holdings in Molson Coors Brewing Company (NYSE:TAP) by 6.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 56,324 shares of the company’s stock after selling 4,185 shares during the quarter. Ontario Teachers Pension Plan Board owned approximately 0.28% of Molson Coors Brewing worth $4,863,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Bessemer Group Inc. increased its holdings in shares of Molson Coors Brewing by 12.8% in the 2nd quarter. Bessemer Group Inc. now owns 1,230 shares of the company’s stock valued at $106,000 after acquiring an additional 140 shares during the period. Penserra Capital Management LLC increased its holdings in shares of Molson Coors Brewing by 30.4% in the 2nd quarter. Penserra Capital Management LLC now owns 1,560 shares of the company’s stock valued at $134,000 after acquiring an additional 364 shares during the period. Korea Investment CORP increased its holdings in shares of Molson Coors Brewing by 142.0% in the 2nd quarter. Korea Investment CORP now owns 1,750 shares of the company’s stock valued at $151,000 after acquiring an additional 1,027 shares during the period. Lloyds Banking Group plc increased its holdings in shares of Molson Coors Brewing by 18.4% in the 2nd quarter. Lloyds Banking Group plc now owns 1,908 shares of the company’s stock valued at $164,000 after acquiring an additional 296 shares during the period. Finally, FNY Partners Fund LP increased its holdings in shares of Molson Coors Brewing by 257.1% in the 2nd quarter. FNY Partners Fund LP now owns 2,500 shares of the company’s stock valued at $215,000 after acquiring an additional 1,800 shares during the period. 78.32% of the stock is currently owned by institutional investors and hedge funds.

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In other Molson Coors Brewing news, CEO Gavin Hattersley sold 17,215 shares of the stock in a transaction 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 $9,118,042.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 2.76% of the stock is owned by company insiders.

TAP has been the topic of a number of analyst reports. Zacks Investment Research lowered shares of Molson Coors Brewing from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 8th. BidaskClub lowered shares of Molson Coors Brewing from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 22nd. Stifel Nicolaus reiterated a “buy” rating and issued a $111.00 price objective on shares of Molson Coors Brewing in a research report on Friday, July 14th. Cowen and Company reiterated a “hold” rating and issued a $96.00 price objective on shares of Molson Coors Brewing in a research report on Thursday. Finally, UBS AG reiterated a “neutral” rating and issued a $98.00 price objective (up from $96.00) on shares of Molson Coors Brewing in a research report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, six have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Molson Coors Brewing currently has an average rating of “Hold” and an average target price of $107.02.

Shares of Molson Coors Brewing Company (TAP) opened at 81.64 on Friday. The stock has a market capitalization of $17.58 billion, a price-to-earnings ratio of 8.16 and a beta of 0.90. The firm’s 50 day moving average is $89.50 and its 200 day moving average is $91.77. Molson Coors Brewing Company has a 12 month low of $81.41 and a 12 month high of $112.19.

Molson Coors Brewing (NYSE:TAP) last issued its earnings results on Wednesday, August 2nd. The company reported $1.66 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 analyst estimates of $3.10 billion. During the same period in the prior year, the business earned $1.11 earnings per share. Molson Coors Brewing ‘s quarterly revenue was down .6% on a year-over-year basis. On average, equities analysts predict that Molson Coors Brewing Company will post $4.31 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.01%. The ex-dividend date of this dividend was Tuesday, August 29th. Molson Coors Brewing ‘s dividend payout ratio is presently 16.38%.

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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