Sumitomo Mitsui Trust Holdings Inc. raised its position in Molson Coors Brewing Co. (NYSE:TAP) by 0.8% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 521,695 shares of the company’s stock after buying an additional 4,309 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned about 0.24% of Molson Coors Brewing worth $52,759,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in TAP. Eqis Capital Management Inc. boosted its position in shares of Molson Coors Brewing by 0.3% in the second quarter. Eqis Capital Management Inc. now owns 4,451 shares of the company’s stock worth $450,000 after buying an additional 12 shares during the last quarter. Capital One National Association boosted its position in shares of Molson Coors Brewing by 3.3% in the second quarter. Capital One National Association now owns 2,912 shares of the company’s stock worth $294,000 after buying an additional 92 shares during the last quarter. Naples Global Advisors LLC boosted its position in shares of Molson Coors Brewing by 0.6% in the second quarter. Naples Global Advisors LLC now owns 17,056 shares of the company’s stock worth $1,725,000 after buying an additional 100 shares during the last quarter. Park Avenue Institutional Advisers LLC boosted its position in shares of Molson Coors Brewing by 12.0% in the first quarter. Park Avenue Institutional Advisers LLC now owns 1,144 shares of the company’s stock worth $110,000 after buying an additional 123 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. boosted its position in shares of Molson Coors Brewing by 2.4% in the second quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,483 shares of the company’s stock worth $554,000 after buying an additional 127 shares during the last quarter. Institutional investors own 77.65% of the company’s stock.

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

Molson Coors Brewing Co. (NYSE:TAP) traded down 0.77% during midday trading on Monday, reaching $110.39. 1,134,508 shares of the company were exchanged. Molson Coors Brewing Co. has a 52-week low of $80.78 and a 52-week high of $112.19. The firm’s 50-day moving average price is $105.81 and its 200 day moving average price is $100.55. The stock has a market capitalization of $23.71 billion, a price-to-earnings ratio of 57.23 and a beta of 0.88.

Molson Coors Brewing (NYSE:TAP) last posted its quarterly earnings data 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 company earned $986.20 million during the quarter, compared to analyst estimates of $970.25 million. During the same quarter last year, the firm posted $1.41 EPS. The business’s revenue for the quarter was down 1.9% on a year-over-year basis. Equities analysts predict that Molson Coors Brewing Co. will post $3.29 earnings per share for the current year.

A number of brokerages have issued reports on TAP. Zacks Investment Research upgraded shares of Molson Coors Brewing from a “hold” rating to a “buy” rating and set a $114.00 target price for the company in a research report on Tuesday, July 12th. Stifel Nicolaus reissued a “top pick” rating on shares of Molson Coors Brewing in a research report on Wednesday, July 6th. Susquehanna reissued a “buy” rating and issued a $130.00 price objective on shares of Molson Coors Brewing in a research report on Wednesday, July 27th. Citigroup Inc. raised shares of Molson Coors Brewing from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $101.00 to $115.00 in a research report on Friday, July 29th. Finally, Bryan, Garnier & Co raised shares of Molson Coors Brewing to a “buy” rating in a research report on Friday, July 8th. One research analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $122.10.

In other news, Director Andrew Thomas Molson sold 1,173 shares of the firm’s 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 transaction, the director now owns 6,834 shares in the company, valued at approximately $679,914.66. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Krishnan Anand sold 1,869 shares of the firm’s stock in a transaction dated Friday, July 29th. The shares were sold at an average price of $102.00, for a total transaction of $190,638.00. Following the transaction, the chief executive officer now owns 26,777 shares of the company’s stock, valued at approximately $2,731,254. The disclosure for this sale can be found here. Insiders own 2.53% of the company’s stock.

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.

5 Day Chart for NYSE:TAP

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