Municipal Employees Retirement System of Michigan Boosts Position in Molson Coors Brewing Company (TAP)

Municipal Employees Retirement System of Michigan boosted its stake in shares of Molson Coors Brewing Company (NYSE:TAP) by 10.1% during the second quarter, Holdings Channel reports. The institutional investor owned 13,310 shares of the company’s stock after buying an additional 1,220 shares during the period. Municipal Employees Retirement System of Michigan’s holdings in Molson Coors Brewing were worth $1,149,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Round Table Services LLC boosted its position in shares of Molson Coors Brewing by 14.3% in the first quarter. Round Table Services LLC now owns 2,746 shares of the company’s stock valued at $263,000 after buying an additional 343 shares during the last quarter. Quantitative Systematic Strategies LLC bought a new position in shares of Molson Coors Brewing during the first quarter valued at about $260,000. Bank of The West boosted its position in shares of Molson Coors Brewing by 34.0% in the first quarter. Bank of The West now owns 23,754 shares of the company’s stock valued at $2,273,000 after buying an additional 6,026 shares during the last quarter. DnB Asset Management AS boosted its position in shares of Molson Coors Brewing by 5.0% in the first quarter. DnB Asset Management AS now owns 106,523 shares of the company’s stock valued at $10,195,000 after buying an additional 5,100 shares during the last quarter. Finally, Addison Capital Co bought a new position in shares of Molson Coors Brewing during the first quarter valued at about $432,000. 79.50% of the stock is owned by institutional investors.

Shares of Molson Coors Brewing Company (NYSE:TAP) opened at 90.50 on Thursday. The company’s 50-day moving average price is $87.87 and its 200 day moving average price is $93.55. The stock has a market cap of $1.83 billion, a PE ratio of 9.04 and a beta of 0.91. Molson Coors Brewing Company has a 1-year low of $85.34 and a 1-year high of $112.19.

Molson Coors Brewing (NYSE:TAP) last issued its quarterly earnings data on Wednesday, August 2nd. The company reported $1.66 earnings per share for the quarter, missing analysts’ consensus estimates of $2.04 by $0.38. Molson Coors Brewing had a net margin of 19.78% and a return on equity of 7.41%. The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter last year, the business earned $1.11 EPS. Molson Coors Brewing ‘s revenue for the quarter was down .6% compared to the same quarter last year. Equities analysts forecast that Molson Coors Brewing Company will post $4.32 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a $1.64 dividend on an annualized basis and a yield of 1.81%. Molson Coors Brewing ‘s dividend payout ratio (DPR) is presently 16.38%.

WARNING: This piece of content was reported by Ticker Report and is the property of of Ticker Report. If you are accessing this piece of content on another domain, it was copied illegally and reposted in violation of US and international copyright and trademark legislation. The original version of this piece of content can be viewed at https://www.tickerreport.com/banking-finance/2797033/municipal-employees-retirement-system-of-michigan-boosts-position-in-molson-coors-brewing-company-tap.html.

Several brokerages have recently issued reports on TAP. Cowen and Company reiterated a “hold” rating and issued a $96.00 price objective on shares of Molson Coors Brewing in a research note on Friday, July 14th. Susquehanna Bancshares Inc set a $114.00 price objective on Molson Coors Brewing and gave the company a “buy” rating in a research note on Saturday, June 3rd. UBS AG reiterated a “neutral” rating and issued a $96.00 price objective (down previously from $100.00) on shares of Molson Coors Brewing in a research note on Friday, June 9th. Societe Generale cut Molson Coors Brewing from a “buy” rating to a “hold” rating and decreased their price objective for the company from $118.00 to $98.00 in a research note on Thursday, May 4th. Finally, Vetr upgraded Molson Coors Brewing from a “buy” rating to a “strong-buy” rating and set a $103.20 price objective for the company in a research note on Wednesday, May 3rd. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $111.60.

In other Molson Coors Brewing news, CEO Gavin Hattersley sold 17,215 shares of the firm’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 completion of the sale, the chief executive officer now owns 99,217 shares in the company, valued at approximately $9,118,042.30. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 2.53% of the stock is owned by company insiders.

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.

Want to see what other hedge funds are holding TAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Molson Coors Brewing Company (NYSE:TAP).

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

Receive News & Ratings for Molson Coors Brewing Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Molson Coors Brewing Company and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

How to Trade on Forex – 8 Steps for Beginners
How to Trade on Forex – 8 Steps for Beginners
Super Nintendo World Theme Park Officially Starts Construction
Super Nintendo World Theme Park Officially Starts Construction
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Amazon and Apple Join Foxconn to Secure Chip Business of Toshiba
Camera Zooms In and Can Recognize Faces
Camera Zooms In and Can Recognize Faces
Netflix Could See 150 Million Worldwide Subscribers
Netflix Could See 150 Million Worldwide Subscribers
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back
LeEco Cutting Over 70% of Staff in U.S. Amidst Pull Back


Leave a Reply

© 2006-2017 Ticker Report. Google+.