Molson Coors Brewing Company (TAP) Stake Decreased by Axa

Axa reduced its stake in shares of Molson Coors Brewing Company (NYSE:TAP) by 1.9% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,117 shares of the company’s stock after selling 400 shares during the period. Axa owned 0.10% of Molson Coors Brewing worth $1,737,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Bessemer Group Inc. lifted its holdings in shares of Molson Coors Brewing by 12.8% during the 2nd quarter. Bessemer Group Inc. now owns 1,230 shares of the company’s stock worth $106,000 after acquiring an additional 140 shares during the period. Penserra Capital Management LLC lifted its holdings in shares of Molson Coors Brewing by 9.5% during the 1st quarter. Penserra Capital Management LLC now owns 1,196 shares of the company’s stock worth $114,000 after acquiring an additional 104 shares during the period. Korea Investment CORP lifted its holdings in shares of Molson Coors Brewing by 142.0% during the 2nd quarter. Korea Investment CORP now owns 1,750 shares of the company’s stock worth $151,000 after acquiring an additional 1,027 shares during the period. Lloyds Banking Group plc purchased a new position in shares of Molson Coors Brewing during the 1st quarter worth about $154,000. Finally, Janney Montgomery Scott LLC lifted its holdings in shares of Molson Coors Brewing by 16.1% during the 2nd quarter. Janney Montgomery Scott LLC now owns 2,525 shares of the company’s stock worth $218,000 after acquiring an additional 350 shares during the period. Institutional investors and hedge funds own 78.32% of the company’s stock.

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In other Molson Coors Brewing news, CEO Gavin Hattersley sold 17,215 shares of Molson Coors Brewing stock in a transaction that occurred on Thursday, August 3rd. The stock was sold at an average price of $91.90, for a total value of $1,582,058.50. Following the transaction, the chief executive officer now directly owns 99,217 shares of the company’s stock, valued at approximately $9,118,042.30. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 2.76% of the company’s stock.

TAP has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of Molson Coors Brewing from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 8th. BidaskClub lowered shares of Molson Coors Brewing from a “sell” rating to a “strong sell” rating in a report 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 report on Friday, July 14th. 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 report on Friday, June 9th. Finally, UBS AG reiterated a “neutral” rating and set a $98.00 price objective (up from $96.00) on shares of Molson Coors Brewing in a report on Wednesday, August 9th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $108.18.

Shares of Molson Coors Brewing Company (NYSE TAP) opened at 83.48 on Thursday. The firm has a market cap of $17.97 billion, a P/E ratio of 8.34 and a beta of 0.90. The firm has a 50-day moving average of $89.50 and a 200 day moving average of $91.77. Molson Coors Brewing Company has a 12 month low of $83.18 and a 12 month high of $112.19.

Molson Coors Brewing (NYSE:TAP) last issued its quarterly earnings results on Wednesday, August 2nd. The company reported $1.66 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.04 by ($0.38). The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.10 billion. Molson Coors Brewing had a return on equity of 7.41% and a net margin of 19.78%. The business’s quarterly revenue was down .6% on a year-over-year basis. During the same period in the prior year, the firm earned $1.11 earnings per share. On average, equities research analysts anticipate that Molson Coors Brewing Company will post $4.30 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were given a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend was Tuesday, August 29th. Molson Coors Brewing ‘s dividend payout ratio is currently 16.38%.

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

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