Gluskin Sheff & Assoc Inc. cut its position in shares of Molson Coors Brewing Co. (NYSE:TAP) by 32.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 232,570 shares of the company’s stock after selling 113,546 shares during the period. Molson Coors Brewing comprises approximately 2.0% of Gluskin Sheff & Assoc Inc.’s investment portfolio, making the stock its 19th largest position. Gluskin Sheff & Assoc Inc. owned about 0.11% of Molson Coors Brewing worth $23,520,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Champlain Investment Partners LLC increased its stake in Molson Coors Brewing by 9.5% in the first quarter. Champlain Investment Partners LLC now owns 399,270 shares of the company’s stock worth $38,402,000 after buying an additional 34,660 shares in the last quarter. NN Investment Partners Holdings N.V. acquired a new position in shares of Molson Coors Brewing during the first quarter worth $669,000. Baker Ellis Asset Management LLC increased its position in shares of Molson Coors Brewing by 1.2% in the first quarter. Baker Ellis Asset Management LLC now owns 28,926 shares of the company’s stock worth $2,782,000 after buying an additional 330 shares during the period. JPMorgan Chase & Co. increased its position in shares of Molson Coors Brewing by 35.5% in the first quarter. JPMorgan Chase & Co. now owns 14,489,567 shares of the company’s stock worth $1,393,607,000 after buying an additional 3,798,161 shares during the period. Finally, BlackRock Japan Co. Ltd increased its position in shares of Molson Coors Brewing by 22.1% in the first quarter. BlackRock Japan Co. Ltd now owns 235,036 shares of the company’s stock worth $22,606,000 after buying an additional 42,558 shares during the period. 77.65% of the stock is currently owned by institutional investors and hedge funds.

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

Shares of Molson Coors Brewing Co. (NYSE:TAP) traded down 0.05% during midday trading on Wednesday, hitting $107.77. The company had a trading volume of 1,391,766 shares. Molson Coors Brewing Co. has a 12-month low of $78.17 and a 12-month high of $111.24. The company has a market capitalization of $23.15 billion, a price-to-earnings ratio of 55.87 and a beta of 0.88. The company’s 50-day moving average price is $103.61 and its 200 day moving average price is $99.83.

Molson Coors Brewing (NYSE:TAP) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $1.11 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $1.11. Molson Coors Brewing had a net margin of 7.54% and a return on equity of 8.21%. The business had revenue of $986.20 million for the quarter, compared to analysts’ expectations of $970.25 million. During the same quarter last year, the firm earned $1.41 EPS. The firm’s revenue for the quarter was down 1.9% compared to the same quarter last year. Equities research analysts predict that Molson Coors Brewing Co. will post $3.50 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were paid a $0.41 dividend. The ex-dividend date was Monday, August 29th. This represents a $1.64 annualized dividend and a yield of 1.52%. Molson Coors Brewing’s dividend payout ratio (DPR) is 88.65%.

TAP has been the topic of a number of recent analyst reports. Susquehanna reissued a “buy” rating and set a $130.00 price target on shares of Molson Coors Brewing in a research report on Sunday, July 17th. Zacks Investment Research raised Molson Coors Brewing from a “hold” rating to a “buy” rating and set a $114.00 price target on the stock in a research report on Tuesday, July 12th. Bryan, Garnier & Co raised Molson Coors Brewing to a “buy” rating in a research report on Friday, July 8th. Citigroup Inc. boosted their price target on Molson Coors Brewing from $115.00 to $120.00 and gave the stock a “buy” rating in a research report on Monday, September 19th. Finally, Stifel Nicolaus boosted their price target on Molson Coors Brewing from $136.00 to $139.00 and gave the stock a “buy” rating in a research report on Wednesday, August 3rd. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Molson Coors Brewing presently has an average rating of “Buy” and a consensus target price of $118.88.

In other Molson Coors Brewing news, CEO Krishnan Anand sold 13,000 shares of the stock in a transaction dated Wednesday, September 7th. The shares were sold at an average price of $107.00, for a total value of $1,391,000.00. Following the completion of the sale, the chief executive officer now owns 29,676 shares in the company, valued at approximately $3,175,332. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Andrew Thomas Molson sold 1,173 shares of the stock in a transaction dated Wednesday, August 3rd. The shares were sold at an average price of $99.49, for a total transaction of $116,701.77. Following the completion of the sale, the director now owns 6,834 shares of the company’s stock, valued at approximately $679,914.66. The disclosure for this sale can be found here. 2.53% of the stock is currently owned by company insiders.

About Molson Coors Brewing

Molson Coors Brewing Company (MCBC) is a holding company that operates as a brewer. The Company has a portfolio of brands, including Carling, Coors Light, Molson Canadian and Staropramen, as well as craft and specialty beers, such as Blue Moon, Creemore Springs, Cobra and Doom Bar. The Company operates through four segments: Molson Coors Canada (MCC or Canada segment); MillerCoors LLC (MillerCoors or U.S.

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