Symphony Asset Management LLC trimmed its stake in shares of Molson Coors Brewing Company (NYSE:TAP) by 20.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 33,670 shares of the company’s stock after selling 8,844 shares during the quarter. Symphony Asset Management LLC owned 0.17% of Molson Coors Brewing worth $2,907,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in TAP. Bessemer Group Inc. raised its stake in shares of Molson Coors Brewing by 12.8% during the 2nd quarter. Bessemer Group Inc. now owns 1,230 shares of the company’s stock valued at $106,000 after purchasing an additional 140 shares during the period. Penserra Capital Management LLC raised its stake in shares of Molson Coors Brewing by 9.5% during the 1st quarter. Penserra Capital Management LLC now owns 1,196 shares of the company’s stock valued at $114,000 after purchasing an additional 104 shares during the period. Korea Investment CORP raised its stake in shares of Molson Coors Brewing by 142.0% during the 2nd quarter. Korea Investment CORP now owns 1,750 shares of the company’s stock valued at $151,000 after purchasing an additional 1,027 shares during the period. Lloyds Banking Group plc bought a new stake in shares of Molson Coors Brewing during the 1st quarter valued at $154,000. Finally, Janney Montgomery Scott LLC raised its stake in shares of Molson Coors Brewing by 16.1% during the 2nd quarter. Janney Montgomery Scott LLC now owns 2,525 shares of the company’s stock valued at $218,000 after purchasing an additional 350 shares during the period. Institutional investors own 78.34% of the company’s stock.
Shares of Molson Coors Brewing Company (TAP) traded up 1.08% during trading on Monday, hitting $89.20. The stock had a trading volume of 243,744 shares. The company has a market cap of $19.21 billion, a PE ratio of 8.91 and a beta of 0.90. The stock has a 50 day moving average of $89.74 and a 200 day moving average of $92.39. Molson Coors Brewing Company has a 12 month low of $85.34 and a 12 month high of $112.19.
Molson Coors Brewing (NYSE:TAP) last announced its quarterly earnings data on Wednesday, August 2nd. The company reported $1.66 EPS for the quarter, missing the Thomson Reuters’ 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 analysts’ expectations of $3.10 billion. During the same quarter in the previous year, the firm earned $1.11 earnings per share. Molson Coors Brewing ‘s revenue was down .6% on a year-over-year basis. Equities analysts forecast that Molson Coors Brewing Company will post $4.30 EPS for the current fiscal year.
The firm also recently disclosed 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 annualized dividend and a dividend yield of 1.86%. Molson Coors Brewing ‘s payout ratio is 16.38%.
A number of analysts recently issued reports on the company. Susquehanna Bancshares Inc set a $114.00 price objective on Molson Coors Brewing and gave the company a “buy” rating in a research note on Saturday, June 3rd. Cowen and Company restated a “market perform” rating and issued a $100.00 target price on shares of Molson Coors Brewing in a research note on Wednesday, May 31st. Credit Suisse Group set a $96.00 target price on Molson Coors Brewing and gave the stock a “hold” rating in a research note on Thursday, August 3rd. BidaskClub upgraded Molson Coors Brewing from a “sell” rating to a “hold” rating in a research note on Saturday, August 26th. Finally, UBS AG restated a “neutral” rating and issued a $98.00 target price (up from $96.00) on shares of Molson Coors Brewing in a research note on Thursday, August 3rd. One research analyst has rated the stock with a sell rating, six have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $111.68.
In other news, CEO Gavin Hattersley sold 17,215 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 99,217 shares in the company, valued at $9,118,042.30. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 2.76% 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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