Molson Coors Brewing Co Class B (TAP) Shares Bought by Aviva PLC

Aviva PLC grew its position in shares of Molson Coors Brewing Co Class B (NYSE:TAP) by 12.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,862 shares of the company’s stock after purchasing an additional 13,735 shares during the quarter. Aviva PLC owned approximately 0.06% of Molson Coors Brewing Co Class B worth $8,291,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. BlackRock Inc. lifted its holdings 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 purchasing an additional 1,092,040 shares during the period. Independent Franchise Partners LLP boosted its stake 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 valued at $792,471,000 after acquiring an additional 1,812,457 shares during the last quarter. Diamond Hill Capital Management Inc. boosted its stake in Molson Coors Brewing Co Class B by 21.1% in the 1st quarter. Diamond Hill Capital Management Inc. now owns 4,362,297 shares of the company’s stock worth $328,612,000 after buying an additional 759,405 shares during the last quarter. Wells Fargo & Company MN boosted its stake in Molson Coors Brewing Co Class B by 19.1% in the 1st quarter. Wells Fargo & Company MN now owns 4,281,419 shares of the company’s stock worth $322,519,000 after buying an additional 686,032 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of Molson Coors Brewing Co Class B by 59.8% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,027,592 shares of the company’s stock valued at $137,957,000 after purchasing an additional 758,900 shares in the last quarter. 76.43% of the stock is owned by hedge funds and other institutional investors.

In other news, insider Krishnan Anand sold 2,595 shares of the firm’s stock in a transaction on Wednesday, August 1st. The stock was sold at an average price of $64.96, for a total value of $168,571.20. Following the transaction, the insider now directly owns 49,946 shares in the company, valued at approximately $3,244,492.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 2.55% of the stock is owned by company insiders.

Several research firms have issued reports on TAP. Stifel Nicolaus restated a “hold” rating and set a $65.00 price objective (down from $71.00) on shares of Molson Coors Brewing Co Class B in a report on Thursday, May 31st. Susquehanna Bancshares set a $72.00 price target on Molson Coors Brewing Co Class B and gave the stock a “buy” rating in a research report on Friday, May 4th. Citigroup dropped their price objective on Molson Coors Brewing Co Class B from $80.00 to $78.00 and set a “buy” rating on the stock in a research note on Monday. Morgan Stanley boosted 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 research report on Thursday, August 2nd. Finally, BMO Capital Markets dropped their price target on Molson Coors Brewing Co Class B from $95.00 to $85.00 and set an “outperform” rating on the stock in a research report on Thursday, May 3rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $81.25.

Shares of TAP traded down $0.19 during mid-day trading on Friday, reaching $66.74. The company had a trading volume of 906,000 shares, compared to its average volume of 2,140,666. The stock has a market cap of $14.46 billion, a PE ratio of 14.93, a PEG ratio of 2.14 and a beta of 0.73. Molson Coors Brewing Co Class B has a twelve month low of $58.75 and a twelve month high of $90.62. 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 (NYSE:TAP) last released its quarterly earnings results on Wednesday, August 1st. The company reported $1.88 EPS for the quarter, topping the Zacks’ consensus estimate of $1.83 by $0.05. The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.08 billion. Molson Coors Brewing Co Class B had a return on equity of 6.97% and a net margin of 11.68%. Molson Coors Brewing Co Class B’s revenue for the quarter was down .2% on a year-over-year basis. During the same period in the prior year, the company earned $1.70 EPS. sell-side analysts forecast that Molson Coors Brewing Co Class B will post 4.85 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, September 17th. Stockholders of record on Friday, August 31st will be given a $0.41 dividend. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $1.64 annualized dividend and a dividend yield of 2.46%. Molson Coors Brewing Co Class B’s dividend payout ratio is currently 36.69%.

Molson Coors Brewing Co Class B 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.

Further Reading: Market Capitalization in the Stock Market

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

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