Macguire Cheswick & Tuttle Investment Counsel LLC decreased its stake in Molson Coors Brewing Company (NYSE:TAP) by 90.8% during the second quarter, Holdings Channel reports. The institutional investor owned 6,180 shares of the company’s stock after selling 60,820 shares during the period. Macguire Cheswick & Tuttle Investment Counsel LLC’s holdings in Molson Coors Brewing were worth $534,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rhumbline Advisers raised its position in Molson Coors Brewing by 0.4% in the second quarter. Rhumbline Advisers now owns 322,469 shares of the company’s stock valued at $27,842,000 after buying an additional 1,164 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in Molson Coors Brewing by 0.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 98,594 shares of the company’s stock valued at $8,583,000 after buying an additional 588 shares in the last quarter. First Trust Advisors LP raised its position in Molson Coors Brewing by 159.2% in the second quarter. First Trust Advisors LP now owns 278,789 shares of the company’s stock valued at $24,071,000 after buying an additional 171,249 shares in the last quarter. Arizona State Retirement System raised its position in Molson Coors Brewing by 0.4% in the second quarter. Arizona State Retirement System now owns 45,821 shares of the company’s stock valued at $3,956,000 after buying an additional 200 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its position in Molson Coors Brewing by 3.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 573,970 shares of the company’s stock valued at $49,557,000 after buying an additional 17,562 shares in the last quarter. Institutional investors and hedge funds own 79.50% of the company’s stock.

Molson Coors Brewing Company (NYSE:TAP) opened at 90.40 on Friday. The stock has a market capitalization of $19.46 billion, a price-to-earnings ratio of 9.03 and a beta of 0.91. The company has a 50-day moving average price of $88.12 and a 200-day moving average price of $93.49. Molson Coors Brewing Company has a 12-month low of $85.34 and a 12-month high of $112.19.

Molson Coors Brewing (NYSE:TAP) last announced its quarterly earnings results 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 return on equity of 7.41% and a net margin of 19.78%. The business had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same period last year, the company posted $1.11 earnings per share. The firm’s revenue for the quarter was down .6% on a year-over-year basis. On average, equities research analysts forecast that Molson Coors Brewing Company will post $4.31 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be given 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 16.38%.

COPYRIGHT VIOLATION WARNING: This news story was posted by Daily Political and is the sole property of of Daily Political. If you are viewing this news story on another publication, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright laws. The correct version of this news story can be read at https://www.dailypolitical.com/2017/08/12/molson-coors-brewing-company-nysetap-shares-sold-by-macguire-cheswick-tuttle-investment-counsel-llc.html.

Several research firms have recently commented on TAP. UBS AG restated a “neutral” rating and set a $98.00 price target (up from $96.00) on shares of Molson Coors Brewing in a research report on Wednesday. Zacks Investment Research lowered Molson Coors Brewing from a “hold” rating to a “strong sell” rating in a research report on Tuesday. Credit Suisse Group set a $96.00 price target on Molson Coors Brewing and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Susquehanna Bancshares Inc restated a “buy” rating on shares of Molson Coors Brewing in a research report on Wednesday, August 2nd. Finally, Cowen and Company restated a “hold” rating and set a $96.00 price target on shares of Molson Coors Brewing in a research report on Friday, July 14th. Two analysts have rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Molson Coors Brewing has a consensus rating of “Hold” and a consensus target price of $111.60.

In other Molson Coors Brewing news, CEO Gavin Hattersley sold 17,215 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $91.90, for a total value of $1,582,058.50. Following the completion of the transaction, the chief executive officer now directly 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 this link. Corporate 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.

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.