FIL Ltd Sells 433,910 Shares of Molson Coors Brewing Company (TAP)
FIL Ltd lessened its position in shares of Molson Coors Brewing Company (NYSE:TAP) by 6.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,048,048 shares of the company’s stock after selling 433,910 shares during the quarter. Molson Coors Brewing comprises about 1.5% of FIL Ltd’s investment portfolio, making the stock its 9th largest position. FIL Ltd owned approximately 29.94% of Molson Coors Brewing worth $522,189,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. lifted its stake in Molson Coors Brewing by 3,905.7% in the first quarter. BlackRock Inc. now owns 10,676,010 shares of the company’s stock valued at $1,021,799,000 after buying an additional 10,409,488 shares during the period. Independent Franchise Partners LLP acquired a new stake in shares of Molson Coors Brewing during the second quarter worth about $444,131,000. FMR LLC raised its position in shares of Molson Coors Brewing by 33.3% during the first quarter. FMR LLC now owns 17,667,627 shares of the company’s stock worth $1,690,969,000 after purchasing an additional 4,417,205 shares during the period. JPMorgan Chase & Co. raised its position in shares of Molson Coors Brewing by 33.2% during the second quarter. JPMorgan Chase & Co. now owns 16,058,334 shares of the company’s stock worth $1,386,476,000 after purchasing an additional 4,001,480 shares during the period. Finally, Lazard Asset Management LLC raised its position in shares of Molson Coors Brewing by 33.0% during the second quarter. Lazard Asset Management LLC now owns 10,538,919 shares of the company’s stock worth $909,928,000 after purchasing an additional 2,616,561 shares during the period. 78.32% of the stock is currently owned by institutional investors and hedge funds.
Molson Coors Brewing (NYSE:TAP) last announced its quarterly earnings data 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 net margin of 19.78% and a return on equity of 7.41%. The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same period last year, the company posted $1.11 earnings per share. Molson Coors Brewing ‘s revenue for the quarter was down .6% on a year-over-year basis.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend was Tuesday, August 29th. Molson Coors Brewing ‘s dividend payout ratio (DPR) is 16.38%.
TAP has been the topic of a number of research analyst reports. BidaskClub lowered Molson Coors Brewing from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 22nd. Susquehanna Bancshares Inc reaffirmed a “positive” rating and set a $117.00 price target (up previously from $114.00) on shares of Molson Coors Brewing in a research report on Wednesday, June 7th. UBS AG reaffirmed a “neutral” rating and set a $98.00 price target (up previously from $96.00) on shares of Molson Coors Brewing in a research report on Thursday, August 3rd. Stifel Nicolaus reaffirmed a “buy” rating and set a $111.00 price target on shares of Molson Coors Brewing in a research report on Friday, July 14th. Finally, Cowen and Company reaffirmed 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. Two research analysts have rated the stock with a sell rating, six have issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $108.18.
In other Molson Coors Brewing news, CEO Gavin Hattersley sold 17,215 shares of the stock in a transaction 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 sale, the chief executive officer now owns 99,217 shares in the company, valued at $9,118,042.30. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 2.76% of the stock is currently owned by corporate insiders.
About Molson Coors Brewing
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.
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.