Harbour Capital Advisors LLC increased its stake in Molson Coors Brewing Company (NYSE:TAP) by 7,856.9% during the second quarter, according to its most recent filing with the SEC. The firm owned 228,283 shares of the company’s stock after buying an additional 225,414 shares during the period. Harbour Capital Advisors LLC owned approximately 0.11% of Molson Coors Brewing worth $2,644,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. FMR LLC boosted its position in Molson Coors Brewing by 33.3% in the first quarter. FMR LLC now owns 17,667,627 shares of the company’s stock valued at $1,690,969,000 after buying an additional 4,417,205 shares during the period. Vanguard Group Inc. raised 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 valued at $1,656,335,000 after buying an additional 630,539 shares in the last quarter. BlackRock Inc. raised 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 valued at $1,021,799,000 after buying an additional 10,409,488 shares in the last quarter. Lazard Asset Management LLC raised 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 valued at $758,247,000 after buying an additional 99,486 shares in the last quarter. Finally, State Street Corp raised 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 valued at $735,565,000 after buying an additional 130,584 shares in the last quarter. Institutional investors own 78.58% of the company’s stock.
Molson Coors Brewing Company (TAP) traded up 0.52% during mid-day trading on Monday, hitting $90.87. The stock had a trading volume of 783,523 shares. Molson Coors Brewing Company has a 12 month low of $85.34 and a 12 month high of $112.19. The stock’s 50-day moving average price is $88.25 and its 200-day moving average price is $93.40. The stock has a market cap of $19.57 billion, a price-to-earnings ratio of 9.08 and a beta of 0.91.
Molson Coors Brewing (NYSE:TAP) last released its earnings results on Wednesday, August 2nd. The company reported $1.66 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.04 by $0.38. The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.10 billion. Molson Coors Brewing had a net margin of 19.78% and a return on equity of 7.41%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.11 EPS. On average, analysts predict that Molson Coors Brewing Company will post $4.31 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Tuesday, August 29th. Molson Coors Brewing ‘s dividend payout ratio is currently 16.38%.
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Several analysts have issued reports on TAP shares. Cowen and Company lowered Molson Coors Brewing from an “outperform” rating to a “market perform” rating and cut their target price for the stock from $120.00 to $105.00 in a research note on Thursday, April 20th. Vetr raised Molson Coors Brewing from a “buy” rating to a “strong-buy” rating and set a $103.20 target price for the company in a research note on Wednesday, May 3rd. Societe Generale lowered Molson Coors Brewing from a “buy” rating to a “hold” rating and cut their target price for the stock from $118.00 to $98.00 in a research note on Thursday, May 4th. Susquehanna Bancshares Inc reaffirmed a “positive” rating and issued a $114.00 target price (down previously from $140.00) on shares of Molson Coors Brewing in a research note on Thursday, May 4th. Finally, UBS AG reaffirmed a “neutral” rating and issued a $100.00 target price (down previously from $108.00) on shares of Molson Coors Brewing in a research note on Friday, May 5th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $111.60.
In other news, CEO Gavin Hattersley sold 17,215 shares of the business’s stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $91.90, for a total transaction of $1,582,058.50. Following the transaction, the chief executive officer now owns 99,217 shares of the company’s stock, valued at approximately $9,118,042.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.53% of the company’s stock.
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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