Molson Coors Brewing Co. (TAP) Shares Sold by LMR Partners LLP
LMR Partners LLP lowered its position in Molson Coors Brewing Co. (NYSE:TAP) by 12.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,120 shares of the company’s stock after selling 725 shares during the period. LMR Partners LLP’s holdings in Molson Coors Brewing were worth $518,000 as of its most recent filing with the SEC.
A number of other large investors have also bought and sold shares of the company. Park Avenue Institutional Advisers LLC raised its stake in Molson Coors Brewing by 12.0% in the first quarter. Park Avenue Institutional Advisers LLC now owns 1,144 shares of the company’s stock worth $110,000 after buying an additional 123 shares in the last quarter. Parametrica Management Ltd purchased a new stake in Molson Coors Brewing during the second quarter worth approximately $203,000. Montag & Caldwell LLC raised its stake in Molson Coors Brewing by 6.6% in the second quarter. Montag & Caldwell LLC now owns 2,436 shares of the company’s stock worth $246,000 after buying an additional 150 shares in the last quarter. Perkins Capital Management Inc. purchased a new stake in Molson Coors Brewing during the second quarter worth approximately $288,000. Finally, Capital One National Association raised its stake in Molson Coors Brewing by 3.3% in the second quarter. Capital One National Association now owns 2,912 shares of the company’s stock worth $294,000 after buying an additional 92 shares in the last quarter. 77.65% of the stock is currently owned by hedge funds and other institutional investors.
Molson Coors Brewing Co. (NYSE:TAP) traded up 0.45% on Wednesday, reaching $110.33. 841,795 shares of the company’s stock traded hands. The company has a market cap of $23.70 billion, a PE ratio of 57.20 and a beta of 0.88. The firm’s 50 day moving average price is $104.94 and its 200 day moving average price is $100.29. Molson Coors Brewing Co. has a 12 month low of $80.78 and a 12 month high of $111.24.
Molson Coors Brewing (NYSE:TAP) last issued its earnings results on Tuesday, August 2nd. The company reported $1.11 earnings per share for the quarter, hitting 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 business earned $986.20 million during the quarter, compared to analyst estimates of $970.25 million. During the same quarter in the previous year, the firm earned $1.41 EPS. Molson Coors Brewing’s revenue was down 1.9% on a year-over-year basis. On average, equities analysts expect that Molson Coors Brewing Co. will post $3.29 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, September 15th. Stockholders of record on Wednesday, August 31st were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 1.49%. The ex-dividend date was Monday, August 29th. Molson Coors Brewing’s payout ratio is currently 88.65%.
A number of equities research analysts have recently commented on the stock. Stifel Nicolaus reaffirmed a “top pick” rating on shares of Molson Coors Brewing in a research note on Wednesday, July 6th. Zacks Investment Research lowered shares of Molson Coors Brewing from a “buy” rating to a “hold” rating in a research note on Tuesday, July 26th. Susquehanna upped their price objective on shares of Molson Coors Brewing from $129.00 to $159.00 and gave the company a “positive” rating in a research note on Wednesday, September 21st. Bryan, Garnier & Co raised shares of Molson Coors Brewing to a “buy” rating in a research note on Friday, July 8th. Finally, Goldman Sachs Group Inc. assumed coverage on shares of Molson Coors Brewing in a research note on Monday. They issued a “buy” rating and a $130.00 price objective on the stock. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Molson Coors Brewing has a consensus rating of “Buy” and a consensus target price of $122.10.
In other news, CEO Krishnan Anand sold 1,869 shares of the company’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $102.00, for a total transaction of $190,638.00. Following the completion of the sale, the chief executive officer now owns 26,777 shares of the company’s stock, valued at approximately $2,731,254. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Andrew Thomas Molson sold 1,173 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $99.49, for a total transaction of $116,701.77. Following the sale, the director now directly owns 6,834 shares of the company’s stock, valued at approximately $679,914.66. The disclosure for this sale can be found here. 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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