Boston Advisors LLC held its position in shares of Molson Coors Brewing Co. (NYSE:TAP) during the second quarter, Holdings Channel reports. The fund owned 4,078 shares of the company’s stock at the end of the second quarter. Boston Advisors LLC’s holdings in Molson Coors Brewing were worth $412,000 at the end of the most recent quarter.
Other institutional investors have also made changes to their positions in the company. Park Avenue Institutional Advisers LLC increased its position in Molson Coors Brewing by 12.0% in the first quarter. Park Avenue Institutional Advisers LLC now owns 1,144 shares of the company’s stock valued at $110,000 after buying an additional 123 shares during the last quarter. Parametrica Management Ltd purchased a new position in Molson Coors Brewing during the second quarter valued at approximately $203,000. Perkins Capital Management Inc. purchased a new position in Molson Coors Brewing during the second quarter valued at approximately $288,000. Capital One National Association increased its position in Molson Coors Brewing by 3.3% in the second quarter. Capital One National Association now owns 2,912 shares of the company’s stock valued at $294,000 after buying an additional 92 shares during the last quarter. Finally, Conning Inc. increased its position in Molson Coors Brewing by 5.0% in the second quarter. Conning Inc. now owns 2,941 shares of the company’s stock valued at $297,000 after buying an additional 140 shares during the last quarter. Hedge funds and other institutional investors own 77.65% of the company’s stock.
Molson Coors Brewing Co. (NYSE:TAP) traded down 0.05% on Thursday, hitting $107.73. 1,074,272 shares of the stock traded hands. Molson Coors Brewing Co. has a 52-week low of $78.17 and a 52-week high of $111.24. The company’s 50 day moving average price is $104.11 and its 200-day moving average price is $99.94. The stock has a market cap of $23.14 billion, a price-to-earnings ratio of 55.85 and a beta of 0.88.
Molson Coors Brewing (NYSE:TAP) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $1.11 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.11. The company earned $986.20 million during the quarter, compared to the consensus estimate of $970.25 million. Molson Coors Brewing had a net margin of 7.54% and a return on equity of 8.21%. The firm’s quarterly revenue was down 1.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.41 earnings per share. On average, analysts forecast that Molson Coors Brewing Co. will post $3.29 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 1.52%. The ex-dividend date was Monday, August 29th. Molson Coors Brewing’s dividend payout ratio (DPR) is currently 88.65%.
Several research firms recently commented on TAP. Stifel Nicolaus reiterated a “top pick” rating on shares of Molson Coors Brewing in a research note on Wednesday, July 6th. Zacks Investment Research downgraded Molson Coors Brewing from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Susquehanna upped their price objective on Molson Coors Brewing from $129.00 to $159.00 and gave the company a “positive” rating in a research note on Wednesday, September 21st. Bryan, Garnier & Co upgraded Molson Coors Brewing to a “buy” rating in a research note on Friday, July 8th. Finally, Citigroup Inc. upped their price objective on Molson Coors Brewing from $115.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, September 19th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. Molson Coors Brewing currently has a consensus rating of “Buy” and a consensus price target of $118.88.
In related news, Director Andrew Thomas Molson sold 1,173 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were sold at an average price of $99.49, for a total value of $116,701.77. Following the sale, the director now owns 6,834 shares in the company, valued at $679,914.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Krishnan Anand sold 1,869 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $102.00, for a total transaction of $190,638.00. Following the completion of the sale, the chief executive officer now owns 26,777 shares in the company, valued at approximately $2,731,254. The disclosure for this sale can be found here. Corporate insiders own 2.53% of the company’s stock.
About Molson Coors Brewing
Molson Coors Brewing Company (MCBC) is a holding company that operates as a brewer. The Company has a portfolio of brands, including Carling, Coors Light, Molson Canadian and Staropramen, as well as craft and specialty beers, such as Blue Moon, Creemore Springs, Cobra and Doom Bar. The Company operates through four segments: Molson Coors Canada (MCC or Canada segment); MillerCoors LLC (MillerCoors or U.S.
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