Prudential Financial Inc. boosted its stake in shares of Molson Coors Brewing Co. (NYSE:TAP) by 13.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 254,706 shares of the company’s stock after buying an additional 30,128 shares during the period. Prudential Financial Inc. owned approximately 0.12% of Molson Coors Brewing worth $25,758,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of TAP. Eqis Capital Management Inc. boosted its stake in shares of Molson Coors Brewing by 0.3% in the second quarter. Eqis Capital Management Inc. now owns 4,451 shares of the company’s stock valued at $450,000 after buying an additional 12 shares during the last quarter. Hanseatic Management Services Inc. boosted its stake in shares of Molson Coors Brewing by 0.7% in the second quarter. Hanseatic Management Services Inc. now owns 6,204 shares of the company’s stock valued at $627,000 after buying an additional 44 shares during the last quarter. Capital One National Association boosted its stake in shares of Molson Coors Brewing by 3.3% in the second quarter. Capital One National Association now owns 2,912 shares of the company’s stock valued at $294,000 after buying an additional 92 shares during the last quarter. Janney Montgomery Scott LLC boosted its stake in shares of Molson Coors Brewing by 4.0% in the second quarter. Janney Montgomery Scott LLC now owns 2,567 shares of the company’s stock valued at $241,000 after buying an additional 99 shares during the last quarter. Finally, Naples Global Advisors LLC boosted its stake in shares of Molson Coors Brewing by 0.6% in the second quarter. Naples Global Advisors LLC now owns 17,056 shares of the company’s stock valued at $1,725,000 after buying an additional 100 shares during the last quarter. 77.65% of the stock is owned by hedge funds and other institutional investors.

Shares of Molson Coors Brewing Co. (NYSE:TAP) traded down 0.64% during trading on Friday, reaching $106.10. The company had a trading volume of 283,465 shares. The firm has a market capitalization of $22.79 billion, a price-to-earnings ratio of 55.00 and a beta of 0.94. Molson Coors Brewing Co. has a 52 week low of $78.17 and a 52 week high of $107.55. The firm has a 50-day moving average of $101.70 and a 200 day moving average of $98.81.

Molson Coors Brewing (NYSE:TAP) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $1.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.11. The firm earned $986.20 million during the quarter, compared to analysts’ expectations of $970.25 million. Molson Coors Brewing had a return on equity of 8.21% and a net margin of 7.54%. Molson Coors Brewing’s revenue was down 1.9% on a year-over-year basis. During the same period in the previous year, the firm posted $1.41 earnings per share. On average, equities research analysts forecast that Molson Coors Brewing Co. will post $3.27 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Investors of record on Wednesday, August 31st were issued a dividend of $0.41 per share. The ex-dividend date was Monday, August 29th. This represents a $1.64 annualized dividend and a yield of 1.54%. Molson Coors Brewing’s dividend payout ratio is presently 88.65%.

Several brokerages have issued reports on TAP. Susquehanna restated a “buy” rating and issued a $130.00 target price on shares of Molson Coors Brewing in a report on Sunday, July 17th. Zacks Investment Research upgraded Molson Coors Brewing from a “hold” rating to a “buy” rating and set a $114.00 target price for the company in a report on Tuesday, July 12th. Stifel Nicolaus restated a “top pick” rating on shares of Molson Coors Brewing in a report on Wednesday, July 6th. Citigroup Inc. upped their target price on Molson Coors Brewing from $115.00 to $120.00 and gave the company a “buy” rating in a report on Monday. Finally, Bryan, Garnier & Co upgraded Molson Coors Brewing to a “buy” rating in a report on Friday, July 8th. Two research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Molson Coors Brewing presently has an average rating of “Buy” and a consensus price target of $117.50.

In other news, CEO Krishnan Anand sold 1,869 shares of the business’s stock in a transaction on Friday, July 29th. The stock was sold at an average price of $102.00, for a total value of $190,638.00. Following the completion of the transaction, the chief executive officer now directly owns 26,777 shares of the company’s stock, valued at $2,731,254. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Andrew Thomas Molson sold 1,173 shares of the business’s stock in a transaction on Wednesday, August 3rd. The stock was sold at an average price of $99.49, for a total value of $116,701.77. Following the completion of the transaction, 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. Corporate insiders own 2.53% of the company’s stock.

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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