Voya Investment Management LLC reduced its holdings in Molson Coors Brewing Company (NYSE:TAP) by 2.2% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 97,258 shares of the company’s stock after selling 2,173 shares during the quarter. Voya Investment Management LLC’s holdings in Molson Coors Brewing were worth $8,397,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. Shell Asset Management Co. grew its position in shares of Molson Coors Brewing by 0.3% in the 2nd quarter. Shell Asset Management Co. now owns 13,852 shares of the company’s stock worth $1,196,000 after buying an additional 37 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Molson Coors Brewing by 0.3% in the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,719 shares of the company’s stock worth $1,184,000 after buying an additional 42 shares during the last quarter. Neuberger Berman Group LLC grew its position in shares of Molson Coors Brewing by 0.7% in the 1st quarter. Neuberger Berman Group LLC now owns 6,607 shares of the company’s stock worth $632,000 after buying an additional 44 shares during the last quarter. ING Groep NV grew its position in shares of Molson Coors Brewing by 0.6% in the 2nd quarter. ING Groep NV now owns 9,465 shares of the company’s stock worth $817,000 after buying an additional 52 shares during the last quarter. Finally, Boston Advisors LLC grew its position in shares of Molson Coors Brewing by 1.4% in the 2nd quarter. Boston Advisors LLC now owns 3,933 shares of the company’s stock worth $340,000 after buying an additional 55 shares during the last quarter. Hedge funds and other institutional investors own 78.32% of the company’s stock.

A number of equities research analysts have recently weighed in on the company. Cowen and Company reiterated a “hold” rating and issued a $96.00 price objective on shares of Molson Coors Brewing in a research report on Friday, July 14th. Susquehanna Bancshares Inc set a $118.00 price objective on Molson Coors Brewing and gave the stock a “buy” rating in a research report on Tuesday, August 29th. Credit Suisse Group set a $96.00 price objective on Molson Coors Brewing and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Zacks Investment Research upgraded Molson Coors Brewing from a “strong sell” rating to a “hold” rating in a research report on Tuesday, October 3rd. Finally, Berenberg Bank initiated coverage on Molson Coors Brewing in a research report on Wednesday, September 13th. They issued a “sell” rating and a $78.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and an average price target of $105.38.

Shares of Molson Coors Brewing Company (NYSE:TAP) opened at 83.18 on Monday. Molson Coors Brewing Company has a 52-week low of $80.92 and a 52-week high of $112.19. The company’s 50 day moving average price is $86.49 and its 200 day moving average price is $90.45. The company has a market capitalization of $17.91 billion, a price-to-earnings ratio of 8.31 and a beta of 0.89.

Molson Coors Brewing (NYSE:TAP) last announced its earnings results on Wednesday, August 2nd. The company reported $1.66 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.04 by ($0.38). The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period last year, the business posted $1.11 EPS. On average, analysts predict that Molson Coors Brewing Company will post $4.31 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, September 15th. Shareholders of record on Thursday, August 31st were given a dividend of $0.41 per share. The ex-dividend date was Tuesday, August 29th. This represents a $1.64 annualized dividend and a yield of 1.97%. Molson Coors Brewing ‘s dividend payout ratio (DPR) is presently 16.38%.

In other news, CEO Gavin Hattersley sold 17,215 shares of the stock in a transaction on Thursday, August 3rd. The stock was sold at an average price of $91.90, for a total transaction of $1,582,058.50. Following the completion of the sale, the chief executive officer now owns 99,217 shares in the company, valued at approximately $9,118,042.30. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 2.76% of the stock is currently owned by company insiders.

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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.

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

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