Molson Coors Brewing Co Class B (TAP) Shares Sold by Putnam Investments LLC

Putnam Investments LLC trimmed its holdings in Molson Coors Brewing Co Class B (NYSE:TAP) by 5.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,361,113 shares of the company’s stock after selling 138,432 shares during the period. Putnam Investments LLC owned about 1.09% of Molson Coors Brewing Co Class B worth $160,650,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also made changes to their positions in TAP. Independent Franchise Partners LLP lifted its position in shares of Molson Coors Brewing Co Class B by 20.8% in the first quarter. Independent Franchise Partners LLP now owns 10,520,004 shares of the company’s stock worth $792,471,000 after buying an additional 1,812,457 shares in the last quarter. BlackRock Inc. lifted its position in shares of Molson Coors Brewing Co Class B by 10.9% in the second quarter. BlackRock Inc. now owns 13,894,209 shares of the company’s stock worth $945,363,000 after buying an additional 1,367,047 shares in the last quarter. Thompson Siegel & Walmsley LLC purchased a new stake in shares of Molson Coors Brewing Co Class B in the second quarter worth about $66,077,000. Massachusetts Financial Services Co. MA lifted its position in shares of Molson Coors Brewing Co Class B by 59.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 2,027,592 shares of the company’s stock worth $137,957,000 after buying an additional 758,900 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in shares of Molson Coors Brewing Co Class B by 29.1% in the second quarter. American Century Companies Inc. now owns 2,510,468 shares of the company’s stock worth $170,812,000 after buying an additional 565,994 shares in the last quarter. Institutional investors and hedge funds own 76.45% of the company’s stock.

A number of equities research analysts recently commented on TAP shares. Stifel Nicolaus reiterated a “hold” rating and issued a $65.00 target price (down from $71.00) on shares of Molson Coors Brewing Co Class B in a research report on Thursday, May 31st. Citigroup decreased their target price on Molson Coors Brewing Co Class B from $80.00 to $78.00 and set a “buy” rating on the stock in a research report on Monday, August 27th. Morgan Stanley boosted their target price on Molson Coors Brewing Co Class B from $69.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 2nd. Guggenheim started coverage on Molson Coors Brewing Co Class B in a research report on Thursday. They issued a “neutral” rating and a $66.00 target price on the stock. Finally, Zacks Investment Research upgraded Molson Coors Brewing Co Class B from a “sell” rating to a “hold” rating in a research report on Saturday, July 7th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $77.50.

In other Molson Coors Brewing Co Class B news, insider Krishnan Anand sold 2,595 shares of the company’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $66.26, for a total transaction of $171,944.70. Following the sale, the insider now directly owns 49,946 shares in the company, valued at $3,309,421.96. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 2.55% of the company’s stock.

Shares of TAP stock opened at $63.14 on Friday. Molson Coors Brewing Co Class B has a 1 year low of $58.75 and a 1 year high of $87.88. The company has a current ratio of 0.66, a quick ratio of 0.51 and a debt-to-equity ratio of 0.69. The company has a market cap of $13.61 billion, a price-to-earnings ratio of 14.13, a P/E/G ratio of 2.55 and a beta of 0.72.

Molson Coors Brewing Co Class B (NYSE:TAP) last issued its quarterly earnings data on Wednesday, August 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.83 by $0.05. Molson Coors Brewing Co Class B had a return on equity of 6.97% and a net margin of 11.68%. The business had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the prior year, the business posted $1.70 earnings per share. The company’s quarterly revenue was down .2% compared to the same quarter last year. equities research analysts anticipate that Molson Coors Brewing Co Class B will post 4.82 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 17th. Shareholders of record on Friday, August 31st will be given a dividend of $0.41 per share. The ex-dividend date is Thursday, August 30th. This represents a $1.64 dividend on an annualized basis and a yield of 2.60%. Molson Coors Brewing Co Class B’s dividend payout ratio (DPR) is presently 36.69%.

About Molson Coors Brewing Co Class B

Molson Coors Brewing Company manufactures and sells beer and other beverage products in the United States, Canada, Europe, and internationally. It sells various products under the Coors Light, Miller Lite, Coors Banquet, the Blue Moon Brewing Company brands, the Jacob Leinenkugel Brewing Company brands, Keystone, Icehouse, Mickey's, Miller 64, Miller Genuine Draft, Miller High Life, Milwaukee's Best, Hamm's, Olde English 800, Steel Reserve, Crispin, Smith & Forge, Redd's, the Henry's Hard Soda, and Steel Reserve Alloy Series brands.

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Institutional Ownership by Quarter for Molson Coors Brewing Co Class B (NYSE:TAP)

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