First Trust Advisors LP Buys 18,579 Shares of Molson Coors Brewing Co Class B (TAP)

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First Trust Advisors LP lifted its stake in shares of Molson Coors Brewing Co Class B (NYSE:TAP) by 7.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 273,879 shares of the company’s stock after acquiring an additional 18,579 shares during the quarter. First Trust Advisors LP owned 0.13% of Molson Coors Brewing Co Class B worth $18,635,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. BlackRock Inc. increased its position in shares of Molson Coors Brewing Co Class B by 9.5% during the first quarter. BlackRock Inc. now owns 12,527,162 shares of the company’s stock worth $943,672,000 after acquiring an additional 1,092,040 shares during the period. Independent Franchise Partners LLP increased its position in shares of Molson Coors Brewing Co Class B by 20.8% during the first quarter. Independent Franchise Partners LLP now owns 10,520,004 shares of the company’s stock worth $792,471,000 after acquiring an additional 1,812,457 shares during the period. Wells Fargo & Company MN increased its position in shares of Molson Coors Brewing Co Class B by 8.4% during the second quarter. Wells Fargo & Company MN now owns 4,643,007 shares of the company’s stock worth $315,909,000 after acquiring an additional 361,588 shares during the period. Diamond Hill Capital Management Inc. grew its stake in shares of Molson Coors Brewing Co Class B by 21.1% during the first quarter. Diamond Hill Capital Management Inc. now owns 4,362,297 shares of the company’s stock worth $328,612,000 after purchasing an additional 759,405 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in shares of Molson Coors Brewing Co Class B by 59.8% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,027,592 shares of the company’s stock worth $137,957,000 after purchasing an additional 758,900 shares in the last quarter. 77.46% of the stock is currently owned by institutional investors and hedge funds.

Shares of TAP stock opened at $68.56 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.66 and a quick ratio of 0.51. The firm has a market cap of $14.12 billion, a P/E ratio of 15.34, a PEG ratio of 2.09 and a beta of 0.73. Molson Coors Brewing Co Class B has a 12 month low of $58.75 and a 12 month high of $91.36.

Molson Coors Brewing Co Class B (NYSE:TAP) last released its quarterly earnings data on Wednesday, August 1st. The company reported $1.88 earnings per share (EPS) for the quarter, beating 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 the consensus estimate of $3.08 billion. During the same quarter in the prior year, the firm posted $1.70 earnings per share. Molson Coors Brewing Co Class B’s revenue for the quarter was down .2% on a year-over-year basis. sell-side analysts anticipate that Molson Coors Brewing Co Class B will post 4.85 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 17th. Shareholders of record on Friday, August 31st will be paid a $0.41 dividend. The ex-dividend date is Thursday, August 30th. This represents a $1.64 annualized dividend and a yield of 2.39%. Molson Coors Brewing Co Class B’s dividend payout ratio is presently 36.69%.

In other Molson Coors Brewing Co Class B news, insider Krishnan Anand sold 2,595 shares of the company’s stock in a transaction on Wednesday, August 1st. The shares were sold at an average price of $64.96, for a total value of $168,571.20. Following the completion of the transaction, the insider now owns 49,946 shares in the company, valued at $3,244,492.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 2.55% of the company’s stock.

A number of equities analysts recently commented on TAP shares. Morgan Stanley boosted their target price on shares of Molson Coors Brewing Co Class B from $69.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 2nd. Susquehanna Bancshares boosted their target price on shares of Molson Coors Brewing Co Class B from $80.00 to $84.00 and gave the stock a “positive” rating in a research note on Thursday, August 2nd. Citigroup lowered their target price on shares of Molson Coors Brewing Co Class B from $88.00 to $74.00 and set a “buy” rating for the company in a research note on Friday, May 4th. Zacks Investment Research downgraded shares of Molson Coors Brewing Co Class B from a “hold” rating to a “sell” rating in a research note on Tuesday, April 24th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $65.00 target price (down previously from $71.00) on shares of Molson Coors Brewing Co Class B in a research note on Thursday, May 31st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. Molson Coors Brewing Co Class B presently has an average rating of “Hold” and a consensus price target of $80.92.

About Molson Coors Brewing Co Class B

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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