AMP Capital Investors Ltd lowered its position in shares of Molson Coors Brewing Co Class B (NYSE:TAP) by 56.0% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 49,972 shares of the company’s stock after selling 63,651 shares during the quarter. AMP Capital Investors Ltd’s holdings in Molson Coors Brewing Co Class B were worth $3,399,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in TAP. Victory Capital Management Inc. increased its position in shares of Molson Coors Brewing Co Class B by 60.3% during the 1st quarter. Victory Capital Management Inc. now owns 46,676 shares of the company’s stock worth $3,516,000 after purchasing an additional 17,557 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in Molson Coors Brewing Co Class B by 248.3% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 50,690 shares of the company’s stock valued at $3,817,000 after acquiring an additional 36,138 shares in the last quarter. Neuberger Berman Group LLC increased its position in Molson Coors Brewing Co Class B by 3,304.2% in the 1st quarter. Neuberger Berman Group LLC now owns 150,055 shares of the company’s stock valued at $11,304,000 after acquiring an additional 145,647 shares in the last quarter. Teacher Retirement System of Texas increased its position in Molson Coors Brewing Co Class B by 92.7% in the 1st quarter. Teacher Retirement System of Texas now owns 99,464 shares of the company’s stock valued at $7,493,000 after acquiring an additional 47,840 shares in the last quarter. Finally, Korea Investment CORP increased its position in Molson Coors Brewing Co Class B by 4,873.9% in the 1st quarter. Korea Investment CORP now owns 87,044 shares of the company’s stock valued at $6,557,000 after acquiring an additional 85,294 shares in the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

In other news, insider Krishnan Anand sold 2,595 shares of Molson Coors Brewing Co Class B stock in a transaction that occurred on Tuesday, September 4th. The shares were sold at an average price of $66.26, for a total transaction of $171,944.70. Following the completion of the sale, the insider now owns 49,946 shares in the company, valued at approximately $3,309,421.96. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 2.55% of the stock is owned by insiders.

TAP opened at $63.87 on Wednesday. Molson Coors Brewing Co Class B has a 1-year low of $58.75 and a 1-year high of $86.42. The company has a quick ratio of 0.51, a current ratio of 0.66 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $13.62 billion, a price-to-earnings ratio of 14.27, a P/E/G ratio of 2.55 and a beta of 0.72.

Molson Coors Brewing Co Class B (NYSE:TAP) last issued its quarterly earnings results on Wednesday, August 1st. The company reported $1.88 EPS for the quarter, topping the consensus estimate of $1.83 by $0.05. Molson Coors Brewing Co Class B had a net margin of 11.68% and a return on equity of 6.97%. The company had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the previous year, the company earned $1.70 EPS. Molson Coors Brewing Co Class B’s revenue was down .2% on a year-over-year basis. equities research analysts forecast that Molson Coors Brewing Co Class B will post 4.82 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, September 17th. Stockholders of record on Friday, August 31st were given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.57%. The ex-dividend date of this dividend was Thursday, August 30th. Molson Coors Brewing Co Class B’s dividend payout ratio is 36.69%.

TAP has been the subject of several research reports. Citigroup lowered their price objective on shares of Molson Coors Brewing Co Class B from $80.00 to $78.00 and set a “buy” rating for the company in a research report on Monday, August 27th. Susquehanna Bancshares set a $80.00 price objective on shares of Molson Coors Brewing Co Class B and gave the company a “buy” rating in a research report on Wednesday, June 6th. Morgan Stanley raised their price objective on shares of Molson Coors Brewing Co Class B from $69.00 to $74.00 and gave the company an “equal weight” rating in a research report on Thursday, August 2nd. Zacks Investment Research upgraded shares of Molson Coors Brewing Co Class B from a “sell” rating to a “hold” rating in a research report on Saturday, July 7th. Finally, Stifel Nicolaus restated a “hold” rating and issued a $65.00 price objective (down previously from $71.00) on shares of Molson Coors Brewing Co Class B in a research report on Thursday, May 31st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. Molson Coors Brewing Co Class B presently has a consensus rating of “Hold” and an average target price of $77.50.

Molson Coors Brewing Co Class B Company Profile

Molson Coors Brewing Company manufactures and sells beer and other beverage products in the United States, Canada, Europe, and internationally. It sells various products under the Coors Light, Miller Lite, Coors Banquet, the Blue Moon Brewing Company brands, the Jacob Leinenkugel Brewing Company brands, Keystone, Icehouse, Mickey's, Miller 64, Miller Genuine Draft, Miller High Life, Milwaukee's Best, Hamm's, Olde English 800, Steel Reserve, Crispin, Smith & Forge, Redd's, the Henry's Hard Soda, and Steel Reserve Alloy Series brands.

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

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