Molson Coors Brewing Co Class B (TAP) Shares Bought by Baird Financial Group Inc.

Share on StockTwits

Baird Financial Group Inc. grew its holdings in Molson Coors Brewing Co Class B (NYSE:TAP) by 3.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 327,763 shares of the company’s stock after acquiring an additional 10,310 shares during the period. Baird Financial Group Inc. owned about 0.15% of Molson Coors Brewing Co Class B worth $22,301,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also made changes to their positions in the company. ARGA Investment Management LP lifted its position in shares of Molson Coors Brewing Co Class B by 19.7% in the second quarter. ARGA Investment Management LP now owns 23,575 shares of the company’s stock valued at $1,604,000 after acquiring an additional 3,875 shares in the last quarter. HC Financial Advisors Inc. bought a new stake in shares of Molson Coors Brewing Co Class B in the second quarter worth about $586,000. First Trust Advisors LP increased its holdings in shares of Molson Coors Brewing Co Class B by 7.3% in the second quarter. First Trust Advisors LP now owns 273,879 shares of the company’s stock worth $18,635,000 after purchasing an additional 18,579 shares during the last quarter. ARP Americas LP bought a new stake in shares of Molson Coors Brewing Co Class B in the second quarter worth about $422,000. Finally, Amalgamated Bank increased its holdings in shares of Molson Coors Brewing Co Class B by 3.8% in the second quarter. Amalgamated Bank now owns 22,499 shares of the company’s stock worth $1,531,000 after purchasing an additional 828 shares during the last quarter. Institutional investors and hedge funds own 76.43% of the company’s stock.

Shares of NYSE TAP opened at $66.41 on Friday. The company has a current ratio of 0.66, a quick ratio of 0.51 and a debt-to-equity ratio of 0.69. Molson Coors Brewing Co Class B has a 1-year low of $58.75 and a 1-year high of $90.25. The company has a market cap of $14.40 billion, a price-to-earnings ratio of 14.86, a P/E/G ratio of 2.14 and a beta of 0.72.

Molson Coors Brewing Co Class B (NYSE:TAP) last issued its quarterly earnings data on Wednesday, August 1st. The company reported $1.88 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.83 by $0.05. Molson Coors Brewing Co Class B had a return on equity of 6.97% and a net margin of 11.68%. The company had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the previous year, the firm posted $1.70 earnings per share. The firm’s revenue for the quarter was down .2% on a year-over-year basis. analysts predict that Molson Coors Brewing Co Class B will post 4.85 EPS for the current fiscal 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 dividend of $0.41 per share. The ex-dividend date is Thursday, August 30th. This represents a $1.64 annualized dividend and a yield of 2.47%. Molson Coors Brewing Co Class B’s payout ratio is currently 36.69%.

In other Molson Coors Brewing Co Class B news, insider Krishnan Anand sold 2,595 shares of the business’s stock in a transaction that occurred on Tuesday, September 4th. The stock was sold at an average price of $66.26, for a total transaction of $171,944.70. Following the sale, the insider now directly owns 49,946 shares of the company’s stock, valued at $3,309,421.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 2.55% of the company’s stock.

Several equities research analysts have recently issued reports on the company. Jefferies Financial Group assumed coverage on Molson Coors Brewing Co Class B in a report on Friday. They issued a “sell” rating and a $55.00 target price on the stock. Citigroup reduced their target price on Molson Coors Brewing Co Class B from $80.00 to $78.00 and set a “buy” rating on the stock in a report on Monday, August 27th. Susquehanna Bancshares lifted their target price on Molson Coors Brewing Co Class B from $80.00 to $84.00 and gave the stock a “positive” rating in a report on Thursday, August 2nd. Morgan Stanley lifted their target price on Molson Coors Brewing Co Class B from $69.00 to $74.00 and gave the stock an “equal weight” rating in a report on Thursday, August 2nd. Finally, Zacks Investment Research raised Molson Coors Brewing Co Class B from a “sell” rating to a “hold” rating in a report on Saturday, July 7th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $79.23.

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.

Recommended Story: How to Profit and Limit Losses With Stop Orders

Want to see what other hedge funds are holding TAP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Molson Coors Brewing Co Class B (NYSE:TAP).

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

Receive News & Ratings for Molson Coors Brewing Co Class B Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Molson Coors Brewing Co Class B and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply