Great West Life Assurance Co. Can decreased its position in shares of Molson Coors Brewing Company (NYSE:TAP) by 24.5% during the second quarter, Holdings Channel reports. The fund owned 125,729 shares of the company’s stock after selling 40,729 shares during the period. Great West Life Assurance Co. Can’s holdings in Molson Coors Brewing were worth $10,843,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. 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 worth $2,273,000 after buying an additional 6,026 shares during the last quarter. Quantum Capital Management acquired a new position in shares of Molson Coors Brewing during the first quarter worth approximately $647,000. FIL Ltd boosted its position in shares of Molson Coors Brewing by 1.9% in the first quarter. FIL Ltd now owns 6,481,958 shares of the company’s stock worth $620,388,000 after buying an additional 119,127 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Molson Coors Brewing by 3.8% in the first quarter. Vanguard Group Inc. now owns 17,305,767 shares of the company’s stock worth $1,656,335,000 after buying an additional 630,539 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. boosted its position in shares of Molson Coors Brewing by 2.6% in the first quarter. Diamond Hill Capital Management Inc. now owns 579,141 shares of the company’s stock worth $55,430,000 after buying an additional 14,802 shares during the last quarter. Institutional investors and hedge funds own 79.50% of the company’s stock.

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

Molson Coors Brewing (NYSE:TAP) last released its earnings results on Wednesday, August 2nd. The company reported $1.66 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.04 by $0.38. The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.10 billion. Molson Coors Brewing had a net margin of 19.78% and a return on equity of 7.41%. The business’s revenue for the quarter was down .6% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.11 EPS. On average, analysts anticipate that Molson Coors Brewing Company will post $4.32 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Tuesday, August 29th. Molson Coors Brewing ‘s dividend payout ratio is currently 16.38%.

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A number of research analysts have commented on TAP shares. Cowen and Company reiterated a “market perform” rating and set a $100.00 price target on shares of Molson Coors Brewing in a research report on Wednesday, May 31st. Susquehanna Bancshares Inc reiterated a “buy” rating on shares of Molson Coors Brewing in a research report on Wednesday, August 2nd. Stifel Nicolaus reiterated a “buy” rating and set a $111.00 price target on shares of Molson Coors Brewing in a research report on Friday, July 14th. BidaskClub cut shares of Molson Coors Brewing from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 22nd. Finally, Societe Generale cut shares of Molson Coors Brewing from a “buy” rating to a “hold” rating and reduced their price target for the company from $118.00 to $98.00 in a research report on Thursday, May 4th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $111.60.

In other news, CEO Gavin Hattersley sold 17,215 shares of the business’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 transaction, the chief executive officer now owns 99,217 shares of the company’s stock, valued at approximately $9,118,042.30. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 2.53% of the company’s stock.

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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