Molson Coors Brewing Company (TAP) Stake Cut by Deltec Asset Management LLC

Deltec Asset Management LLC decreased its position in Molson Coors Brewing Company (NYSE:TAP) by 7.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 117,847 shares of the company’s stock after selling 9,943 shares during the period. Molson Coors Brewing makes up about 2.1% of Deltec Asset Management LLC’s holdings, making the stock its 9th largest position. Deltec Asset Management LLC owned approximately 0.05% of Molson Coors Brewing worth $10,174,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. FMR LLC increased its stake in shares of Molson Coors Brewing by 33.3% in the first quarter. FMR LLC now owns 17,667,627 shares of the company’s stock worth $1,690,969,000 after buying an additional 4,417,205 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Molson Coors Brewing by 3.8% in the first quarter. Vanguard Group Inc. now owns 17,305,767 shares of the company’s stock worth $1,656,335,000 after buying an additional 630,539 shares during the last quarter. BlackRock Inc. increased its stake in shares of Molson Coors Brewing by 3,905.7% in the first quarter. BlackRock Inc. now owns 10,676,010 shares of the company’s stock worth $1,021,799,000 after buying an additional 10,409,488 shares during the last quarter. Lazard Asset Management LLC increased its stake in shares of Molson Coors Brewing by 1.3% in the first quarter. Lazard Asset Management LLC now owns 7,922,358 shares of the company’s stock worth $758,247,000 after buying an additional 99,486 shares during the last quarter. Finally, State Street Corp increased its stake in shares of Molson Coors Brewing by 1.7% in the first quarter. State Street Corp now owns 7,685,254 shares of the company’s stock worth $735,565,000 after buying an additional 130,584 shares during the last quarter. Hedge funds and other institutional investors own 76.38% of the company’s stock.

Molson Coors Brewing Company (NYSE:TAP) opened at 89.04 on Thursday. The company has a market cap of $19.17 billion, a price-to-earnings ratio of 9.57 and a beta of 0.91. The firm’s 50-day moving average is $87.19 and its 200 day moving average is $94.04. 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 released its quarterly earnings data on Wednesday, May 3rd. The company reported $0.76 earnings per share for the quarter, missing analysts’ consensus estimates of $1.31 by $0.55. The company had revenue of $2.49 billion for the quarter, compared to analysts’ expectations of $2.46 billion. Molson Coors Brewing had a net margin of 23.53% and a return on equity of 6.73%. The business’s revenue for the quarter was up 278.7% compared to the same quarter last year. During the same period last year, the company posted $0.54 EPS. On average, equities analysts expect that Molson Coors Brewing Company will post $6.49 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date of this dividend is Tuesday, August 29th. Molson Coors Brewing ‘s dividend payout ratio (DPR) is presently 17.60%.

WARNING: This piece of content was originally published by [[site]] and is the property of of [[site]]. If you are viewing this piece of content on another publication, it was illegally stolen and republished in violation of US & international trademark & copyright legislation. The original version of this piece of content can be viewed at [[permalink]].

A number of equities research analysts have issued reports on TAP shares. BidaskClub downgraded shares of Molson Coors Brewing from a “sell” rating to a “strong sell” rating in a research note on Thursday, June 22nd. Stifel Nicolaus reiterated a “buy” rating and set a $111.00 price objective on shares of Molson Coors Brewing in a research note on Friday, July 14th. Societe Generale downgraded shares of Molson Coors Brewing from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $118.00 to $98.00 in a research note on Thursday, May 4th. Cowen and Company increased their price objective on shares of Molson Coors Brewing from $96.00 to $100.00 and gave the stock a “market perform” rating in a research note on Friday, June 9th. Finally, UBS AG restated a “neutral” rating and issued a $100.00 price target (down from $108.00) on shares of Molson Coors Brewing in a research note on Friday, May 5th. One analyst has rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $112.27.

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.