Candriam Luxembourg S.C.A. increased its stake in Molson Coors Brewing Co. (NYSE:TAP) by 32.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,917 shares of the company’s stock after buying an additional 1,682 shares during the period. Candriam Luxembourg S.C.A.’s holdings in Molson Coors Brewing were worth $700,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Magnetar Financial LLC acquired a new position in Molson Coors Brewing during the first quarter worth $41,026,000. Adage Capital Partners GP L.L.C. raised its position in 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 during the last quarter. Renaissance Technologies LLC raised its position in 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 during the last quarter. Prudential PLC raised its position in 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 during the last quarter. Finally, ING Groep NV acquired a new position in Molson Coors Brewing during the first quarter worth $407,000. 77.65% of the stock is currently owned by hedge funds and other institutional investors.
Molson Coors Brewing Co. (NYSE:TAP) traded down 0.07% during mid-day trading on Friday, hitting $107.65. The stock had a trading volume of 1,207,615 shares. Molson Coors Brewing Co. has a 12 month low of $78.17 and a 12 month high of $111.24. The firm’s 50-day moving average is $104.36 and its 200 day moving average is $100.05. The company has a market cap of $23.12 billion, a price-to-earnings ratio of 55.81 and a beta of 0.88.
Molson Coors Brewing (NYSE:TAP) last posted its earnings results on Tuesday, August 2nd. The company reported $1.11 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $1.11. Molson Coors Brewing had a return on equity of 8.21% and a net margin of 7.54%. The company had revenue of $986.20 million for the quarter, compared to analyst estimates of $970.25 million. During the same quarter last year, the company earned $1.41 earnings per share. The company’s revenue for the quarter was down 1.9% on a year-over-year basis. Equities analysts anticipate that Molson Coors Brewing Co. will post $3.29 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were issued a $0.41 dividend. The ex-dividend date was Monday, August 29th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.52%. Molson Coors Brewing’s dividend payout ratio is presently 88.65%.
TAP has been the topic of a number of recent analyst reports. Susquehanna boosted their target price on Molson Coors Brewing from $129.00 to $159.00 and gave the stock a “positive” rating in a report on Wednesday, September 21st. Zacks Investment Research raised Molson Coors Brewing from a “hold” rating to a “strong-buy” rating and set a $125.00 target price on the stock in a report on Tuesday, October 4th. Citigroup Inc. boosted their target price on Molson Coors Brewing from $115.00 to $120.00 and gave the stock a “buy” rating in a report on Monday, September 19th. Stifel Nicolaus reissued a “buy” rating and set a $134.00 target price (up from $119.00) on shares of Molson Coors Brewing in a report on Sunday, June 12th. Finally, Bryan, Garnier & Co raised Molson Coors Brewing to a “buy” rating in a report on Friday, July 8th. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $118.88.
In related news, CEO Krishnan Anand sold 13,000 shares of the stock in a transaction that occurred on Wednesday, September 28th. The stock was sold at an average price of $110.64, for a total transaction of $1,438,320.00. Following the completion of the sale, the chief executive officer now directly owns 35,705 shares of the company’s stock, valued at $3,950,401.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Andrew Thomas Molson sold 1,173 shares of the 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 directly owns 6,834 shares of the company’s stock, valued at $679,914.66. The disclosure for this sale can be found here. 2.53% of the stock is owned by insiders.
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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