Northwestern Mutual Investment Management Company LLC lowered its stake in Molson Coors Brewing Company (NYSE:TAP) by 81.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,023 shares of the company’s stock after selling 30,249 shares during the quarter. Northwestern Mutual Investment Management Company LLC’s holdings in Molson Coors Brewing were worth $710,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Bessemer Group Inc. boosted its holdings in Molson Coors Brewing by 12.8% in the second 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 Molson Coors Brewing by 9.5% in the first 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 Molson Coors Brewing by 142.0% in the second 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 purchased a new stake in Molson Coors Brewing in the first quarter worth approximately $154,000. Finally, Janney Montgomery Scott LLC boosted its holdings in Molson Coors Brewing by 16.1% in the second 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.

Molson Coors Brewing Company (NYSE TAP) opened at 88.25 on Friday. The firm has a 50-day moving average of $89.69 and a 200 day moving average of $92.50. Molson Coors Brewing Company has a 52-week low of $85.34 and a 52-week high of $112.19. The company has a market capitalization of $19.00 billion, a P/E ratio of 8.82 and a beta of 0.90.

Molson Coors Brewing (NYSE:TAP) last released its quarterly earnings data on Wednesday, August 2nd. The company reported $1.66 EPS for the quarter, missing the consensus estimate of $2.04 by $0.38. The business had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.10 billion. Molson Coors Brewing had a net margin of 19.78% and a return on equity of 7.41%. The firm’s revenue was down .6% on a year-over-year basis. During the same period last year, the company earned $1.11 earnings per share. Equities analysts predict that Molson Coors Brewing Company will post $4.30 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 15th. Stockholders of record on Thursday, August 31st will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 1.86%. The ex-dividend date is Tuesday, August 29th. Molson Coors Brewing ‘s dividend payout ratio (DPR) is currently 16.38%.

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In other news, CEO Gavin Hattersley sold 17,215 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly 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 can be accessed through this hyperlink. 2.76% of the stock is owned by corporate insiders.

Several brokerages recently issued reports on TAP. Susquehanna Bancshares Inc set a $118.00 target price on shares of Molson Coors Brewing and gave the stock a “buy” rating in a report on Tuesday, August 29th. BidaskClub upgraded shares of Molson Coors Brewing from a “sell” rating to a “hold” rating in a report on Saturday, August 26th. UBS AG restated a “neutral” rating and issued a $98.00 target price (up previously from $96.00) on shares of Molson Coors Brewing in a report on Wednesday, August 9th. Zacks Investment Research cut shares of Molson Coors Brewing from a “hold” rating to a “strong sell” rating in a report on Tuesday, August 8th. Finally, 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. One analyst has rated the stock with a sell rating, six have issued a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $111.68.

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.

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

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