Kavar Capital Partners LLC acquired a new position in Molson Coors Brewing Co (NYSE:TAP) in the third quarter, Holdings Channel reports. The institutional investor acquired 36,389 shares of the company’s stock, valued at approximately $2,238,000.

A number of other institutional investors have also added to or reduced their stakes in TAP. BlackRock Inc. boosted its holdings in shares of Molson Coors Brewing by 10.9% during the second quarter. BlackRock Inc. now owns 13,894,209 shares of the company’s stock valued at $945,363,000 after acquiring an additional 1,367,047 shares during the period. Wells Fargo & Company MN boosted its holdings in shares of Molson Coors Brewing by 8.4% during the second quarter. Wells Fargo & Company MN now owns 4,643,007 shares of the company’s stock valued at $315,909,000 after acquiring an additional 361,588 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in shares of Molson Coors Brewing by 33.9% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,715,532 shares of the company’s stock valued at $167,004,000 after acquiring an additional 687,940 shares during the period. American Century Companies Inc. boosted its holdings in shares of Molson Coors Brewing by 29.1% during the second quarter. American Century Companies Inc. now owns 2,510,468 shares of the company’s stock valued at $170,812,000 after acquiring an additional 565,994 shares during the period. Finally, Thompson Siegel & Walmsley LLC boosted its holdings in shares of Molson Coors Brewing by 46.2% during the third quarter. Thompson Siegel & Walmsley LLC now owns 1,419,493 shares of the company’s stock valued at $87,299,000 after acquiring an additional 448,337 shares during the period. 73.49% of the stock is owned by hedge funds and other institutional investors.

TAP stock opened at $66.39 on Tuesday. The stock has a market capitalization of $13.97 billion, a P/E ratio of 14.85, a P/E/G ratio of 2.87 and a beta of 0.56. Molson Coors Brewing Co has a fifty-two week low of $55.52 and a fifty-two week high of $85.86. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.64 and a quick ratio of 0.49.

Molson Coors Brewing (NYSE:TAP) last posted its quarterly earnings data on Wednesday, October 31st. The company reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.59 by $0.25. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.92 billion. Molson Coors Brewing had a net margin of 12.05% and a return on equity of 7.58%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.34 earnings per share. On average, analysts anticipate that Molson Coors Brewing Co will post 4.97 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 17th. Investors of record on Friday, November 30th will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.47%. The ex-dividend date of this dividend is Thursday, November 29th. Molson Coors Brewing’s payout ratio is currently 36.69%.

In related news, insider Krishnan Anand sold 2,595 shares of the company’s stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $61.42, for a total value of $159,384.90. Following the completion of the sale, the insider now owns 49,578 shares of the company’s stock, valued at $3,045,080.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 7,785 shares of company stock valued at $499,512 in the last ninety days. Corporate insiders own 2.55% of the company’s stock.

Several brokerages have recently issued reports on TAP. Citigroup reduced their price target on shares of Molson Coors Brewing from $80.00 to $78.00 and set a “buy” rating for the company in a report on Monday, August 27th. Zacks Investment Research downgraded shares of Molson Coors Brewing from a “buy” rating to a “hold” rating in a report on Thursday, October 4th. Berenberg Bank set a $67.00 price target on shares of Molson Coors Brewing and gave the company a “hold” rating in a report on Tuesday, September 11th. Jefferies Financial Group assumed coverage on shares of Molson Coors Brewing in a report on Friday, September 7th. They issued an “underperform” rating and a $55.00 price objective for the company. Finally, Standpoint Research assumed coverage on shares of Molson Coors Brewing in a report on Tuesday, October 23rd. They issued a “buy” rating and a $72.00 price objective for the company. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and seven have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $75.36.

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Molson Coors Brewing 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 (NYSE:TAP)

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