Whittier Trust Co. of Nevada Inc. continued to hold its stake in Molson Coors Brewing Co. (NYSE:TAP) during the second quarter, Holdings Channel reports. The firm owned 1,600 shares of the company’s stock at the end of the second quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Molson Coors Brewing were worth $162,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the company. Magnetar Financial LLC purchased a new stake in Molson Coors Brewing during the first quarter valued at about $41,026,000. Adage Capital Partners GP L.L.C. raised its position in shares of Molson Coors Brewing by 10.5% in the first quarter. Adage Capital Partners GP L.L.C. now owns 834,705 shares of the company’s stock worth $80,282,000 after buying an additional 79,300 shares in the last quarter. Renaissance Technologies LLC raised its position in shares of Molson Coors Brewing by 16.7% in the first quarter. Renaissance Technologies LLC now owns 619,900 shares of the company’s stock worth $59,622,000 after buying an additional 88,900 shares in the last quarter. Prudential PLC raised its position in shares of Molson Coors Brewing by 3.2% in the first quarter. Prudential PLC now owns 76,940 shares of the company’s stock worth $7,400,000 after buying an additional 2,378 shares in the last quarter. Finally, ING Groep NV bought a new position in shares of Molson Coors Brewing during the first quarter worth $407,000. 77.65% of the stock is currently owned by institutional investors and hedge funds.
Shares of Molson Coors Brewing Co. (NYSE:TAP) traded up 0.48% during mid-day trading on Thursday, hitting $110.78. 995,404 shares of the stock were exchanged. The stock has a market cap of $23.79 billion, a PE ratio of 57.43 and a beta of 0.88. The company has a 50-day moving average of $105.23 and a 200 day moving average of $100.36. Molson Coors Brewing Co. has a one year low of $80.78 and a one year high of $111.24.
Molson Coors Brewing (NYSE:TAP) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $1.11 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $1.11. Molson Coors Brewing had a net margin of 7.54% and a return on equity of 8.21%. The business had revenue of $986.20 million for the quarter, compared to analyst estimates of $970.25 million. During the same period in the previous year, the business posted $1.41 earnings per share. The business’s revenue was down 1.9% compared to the same quarter last year. On average, equities analysts predict that Molson Coors Brewing Co. will post $3.29 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were paid a dividend of $0.41 per share. The ex-dividend date of this dividend was Monday, August 29th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.49%. Molson Coors Brewing’s dividend payout ratio (DPR) is 88.65%.
TAP has been the topic of a number of research reports. Susquehanna reaffirmed a “buy” rating and issued a $130.00 price target on shares of Molson Coors Brewing in a research note on Sunday, July 17th. Citigroup Inc. raised shares of Molson Coors Brewing from a “neutral” rating to a “buy” rating and raised their price target for the company from $101.00 to $115.00 in a research note on Friday, July 29th. Bank of America Corp. initiated coverage on shares of Molson Coors Brewing in a research note on Monday. They issued a “buy” rating and a $140.00 price target on the stock. Zacks Investment Research raised shares of Molson Coors Brewing from a “hold” rating to a “strong-buy” rating and set a $125.00 price target on the stock in a research note on Tuesday, October 4th. Finally, Goldman Sachs Group Inc. initiated coverage on shares of Molson Coors Brewing in a research note on Monday. They issued a “buy” rating and a $130.00 price target on the stock. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $122.10.
In related news, Director Andrew Thomas Molson sold 1,173 shares of the business’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $99.49, for a total transaction of $116,701.77. Following the sale, the director now owns 6,834 shares of the company’s stock, valued at $679,914.66. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Krishnan Anand sold 13,000 shares of the business’s stock in a transaction dated Wednesday, September 7th. The stock was sold at an average price of $107.00, for a total transaction of $1,391,000.00. Following the sale, the chief executive officer now directly owns 29,676 shares in the company, valued at approximately $3,175,332. The disclosure for this sale can be found here. Corporate insiders own 2.53% of the company’s stock.
Molson Coors Brewing Company Profile
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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