Aberdeen Asset Management PLC UK raised its holdings in shares of Molson Coors Brewing Company (NYSE:TAP) by 31.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 550,523 shares of the company’s stock after purchasing an additional 131,189 shares during the quarter. Aberdeen Asset Management PLC UK owned 2.73% of Molson Coors Brewing worth $47,532,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the business. BlackRock Inc. lifted its holdings in shares of Molson Coors Brewing by 3,905.7% in the 1st quarter. BlackRock Inc. now owns 10,676,010 shares of the company’s stock worth $1,021,799,000 after acquiring an additional 10,409,488 shares during the last quarter. Independent Franchise Partners LLP bought a new stake in shares of Molson Coors Brewing in the 2nd quarter worth about $444,131,000. FMR LLC lifted its holdings in shares of Molson Coors Brewing by 33.3% in the 1st quarter. FMR LLC now owns 17,667,627 shares of the company’s stock worth $1,690,969,000 after acquiring an additional 4,417,205 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Molson Coors Brewing by 33.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 16,058,334 shares of the company’s stock worth $1,386,476,000 after acquiring an additional 4,001,480 shares during the last quarter. Finally, Diamond Hill Capital Management Inc. lifted its holdings in shares of Molson Coors Brewing by 353.7% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 2,627,608 shares of the company’s stock worth $226,868,000 after acquiring an additional 2,048,467 shares during the last quarter. Institutional investors and hedge funds own 78.34% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This report was originally reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this report on another publication, it was illegally copied and republished in violation of U.S. & international copyright law. The original version of this report can be read at https://www.thecerbatgem.com/2017/09/09/aberdeen-asset-management-plc-uk-grows-holdings-in-molson-coors-brewing-company-tap.html.

Several equities research analysts have recently issued reports on the stock. Cowen and Company restated a “hold” rating and issued a $96.00 target price on shares of Molson Coors Brewing in a report on Friday, July 14th. Susquehanna Bancshares Inc set a $114.00 target price on shares of Molson Coors Brewing and gave the stock a “buy” rating in a report on Saturday, June 3rd. Credit Suisse Group set a $96.00 target price on shares of Molson Coors Brewing and gave the stock a “hold” rating in a report on Thursday, August 3rd. UBS AG restated a “neutral” rating and issued a $96.00 target price (down previously from $100.00) on shares of Molson Coors Brewing in a report on Friday, June 9th. Finally, BidaskClub upgraded shares of Molson Coors Brewing from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $111.68.

In other Molson Coors Brewing news, CEO Gavin Hattersley sold 17,215 shares of the company’s stock in a transaction dated Thursday, August 3rd. The shares were sold at an average price of $91.90, for a total value of $1,582,058.50. Following the transaction, the chief executive officer now owns 99,217 shares of the company’s stock, valued at $9,118,042.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 2.76% of the company’s stock.

Molson Coors Brewing Company (NYSE:TAP) traded up 0.35% on Friday, reaching $88.25. 1,786,669 shares of the company traded hands. The stock has a market capitalization of $19.00 billion, a price-to-earnings ratio of 8.82 and a beta of 0.90. Molson Coors Brewing Company has a 1-year low of $85.34 and a 1-year high of $112.19. The stock has a 50 day moving average of $89.69 and a 200-day moving average of $92.50.

Molson Coors Brewing (NYSE:TAP) last posted its earnings results on Wednesday, August 2nd. The company reported $1.66 EPS for the quarter, missing the Zacks’ 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 company had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same period in the previous year, the company earned $1.11 EPS. The company’s quarterly revenue was down .6% compared to the same quarter last year. On average, equities analysts anticipate that Molson Coors Brewing Company will post $4.30 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Shareholders of record on Thursday, August 31st will be given a $0.41 dividend. The ex-dividend date is Tuesday, August 29th. This represents a $1.64 dividend on an annualized basis and a yield of 1.86%. Molson Coors Brewing ‘s payout ratio is currently 16.38%.

Molson Coors Brewing Company 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.

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 Company (NYSE:TAP).

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

Receive News & Stock Ratings for Molson Coors Brewing Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Molson Coors Brewing Company and related stocks with our FREE daily email newsletter.