Gargoyle Investment Advisor L.L.C. maintained its stake in Molson Coors Brewing Company (NYSE:TAP) during the second quarter, Holdings Channel reports. The fund owned 23,500 shares of the company’s stock at the end of the second quarter. Gargoyle Investment Advisor L.L.C.’s holdings in Molson Coors Brewing were worth $2,029,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of TAP. Amica Retiree Medical Trust bought a new stake in Molson Coors Brewing during the first quarter worth approximately $105,000. Bessemer Group Inc. boosted its stake in Molson Coors Brewing by 12.8% in the second quarter. Bessemer Group Inc. now owns 1,230 shares of the company’s stock valued at $106,000 after buying an additional 140 shares during the period. Penserra Capital Management LLC boosted its stake in Molson Coors Brewing by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,196 shares of the company’s stock valued at $114,000 after buying an additional 104 shares during the period. Advisory Services Network LLC acquired a new stake in Molson Coors Brewing during the first quarter valued at approximately $130,000. Finally, Korea Investment CORP boosted its stake in Molson Coors Brewing by 142.0% in the second quarter. Korea Investment CORP now owns 1,750 shares of the company’s stock valued at $151,000 after buying an additional 1,027 shares during the period. Hedge funds and other institutional investors own 79.50% of the company’s stock.

Molson Coors Brewing Company (NYSE TAP) opened at 90.40 on Friday. Molson Coors Brewing Company has a 1-year low of $85.34 and a 1-year high of $112.19. The firm has a market capitalization of $19.46 billion, a price-to-earnings ratio of 9.03 and a beta of 0.91. The stock has a 50 day moving average price of $88.12 and a 200 day moving average price of $93.49.

Molson Coors Brewing (NYSE:TAP) last issued its earnings results on Wednesday, August 2nd. The company reported $1.66 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same period in the previous year, the company earned $1.11 earnings per share. The business’s revenue for the quarter was down .6% on a year-over-year basis. Analysts predict that Molson Coors Brewing Company will post $4.31 EPS for the current year.

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

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Several analysts have commented on the company. Susquehanna Bancshares Inc set a $114.00 price target on Molson Coors Brewing and gave the company a “buy” rating in a report on Saturday, June 3rd. Cowen and Company cut Molson Coors Brewing from an “outperform” rating to a “market perform” rating and lowered their price target for the company from $120.00 to $105.00 in a report on Thursday, April 20th. Credit Suisse Group set a $96.00 price target on Molson Coors Brewing and gave the company a “hold” rating in a report on Thursday, August 3rd. UBS AG restated a “neutral” rating and issued a $100.00 price target (down previously from $108.00) on shares of Molson Coors Brewing in a report on Friday, May 5th. Finally, Societe Generale cut Molson Coors Brewing from a “buy” rating to a “hold” rating and lowered their price target for the company from $118.00 to $98.00 in a report on Thursday, May 4th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. Molson Coors Brewing presently 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 company’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $91.90, for a total value of $1,582,058.50. Following 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 sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 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.

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

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