Molson Coors Brewing Company (TAP) Shares Bought by Wells Fargo & Company MN

Wells Fargo & Company MN lifted its holdings in Molson Coors Brewing Company (NYSE:TAP) by 26.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,581,382 shares of the company’s stock after purchasing an additional 537,767 shares during the period. Wells Fargo & Company MN owned about 12.78% of Molson Coors Brewing worth $222,877,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. Bessemer Group Inc. boosted its holdings in shares of Molson Coors Brewing by 12.8% during the 2nd quarter. Bessemer Group Inc. now owns 1,230 shares of the company’s stock worth $106,000 after purchasing an additional 140 shares during the last quarter. Penserra Capital Management LLC boosted its holdings in shares of Molson Coors Brewing by 9.5% during the 1st quarter. Penserra Capital Management LLC now owns 1,196 shares of the company’s stock worth $114,000 after purchasing an additional 104 shares during the last quarter. Korea Investment CORP boosted its holdings in shares of Molson Coors Brewing by 142.0% during the 2nd quarter. Korea Investment CORP now owns 1,750 shares of the company’s stock worth $151,000 after purchasing an additional 1,027 shares during the last quarter. Lloyds Banking Group plc acquired a new position in shares of Molson Coors Brewing during the 1st quarter worth approximately $154,000. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of Molson Coors Brewing by 16.1% during the 2nd quarter. Janney Montgomery Scott LLC now owns 2,525 shares of the company’s stock worth $218,000 after purchasing an additional 350 shares during the last quarter. Institutional investors own 78.34% of the company’s stock.

TAP has been the topic of a number of recent analyst reports. Susquehanna Bancshares Inc set a $114.00 price objective on Molson Coors Brewing and gave the company a “buy” rating in a report on Saturday, June 3rd. Cowen and Company reiterated a “market perform” rating and issued a $100.00 price objective on shares of Molson Coors Brewing in a report on Wednesday, May 31st. Credit Suisse Group set a $96.00 price objective on Molson Coors Brewing and gave the company a “hold” rating in a report on Thursday, August 3rd. BidaskClub upgraded Molson Coors Brewing from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. Finally, UBS AG reiterated a “neutral” rating and issued a $98.00 price objective (up from $96.00) on shares of Molson Coors Brewing in a report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $109.09.

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In related news, CEO Gavin Hattersley sold 17,215 shares of Molson Coors Brewing stock in a transaction on Thursday, August 3rd. The shares were 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 of the company’s stock, valued at approximately $9,118,042.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 2.76% of the company’s stock.

Molson Coors Brewing Company (NYSE TAP) traded down 0.59% during mid-day trading on Friday, hitting $87.25. The stock had a trading volume of 1,724,263 shares. Molson Coors Brewing Company has a one year low of $85.34 and a one year high of $112.19. The company has a market cap of $18.79 billion, a price-to-earnings ratio of 8.72 and a beta of 0.90. The company has a 50 day moving average price of $89.68 and a 200-day moving average price of $92.08.

Molson Coors Brewing (NYSE:TAP) last posted its earnings results on Wednesday, August 2nd. The company reported $1.66 earnings per share for the quarter, missing the Thomson Reuters’ 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 business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the previous year, the firm posted $1.11 EPS. The business’s revenue was down .6% compared to the same quarter last year. Equities analysts expect that Molson Coors Brewing Company will post $4.30 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, September 15th. Investors of record on Thursday, August 31st were paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Tuesday, August 29th. Molson Coors Brewing ‘s dividend payout ratio (DPR) is 16.38%.

Molson Coors Brewing Profile

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.

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

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