Pictet Asset Management Ltd. raised its stake in Molson Coors Brewing Co (NYSE:TAP) by 19.8% during the second quarter, HoldingsChannel.com reports. The fund owned 31,374 shares of the company’s stock after acquiring an additional 5,182 shares during the quarter. Pictet Asset Management Ltd.’s holdings in Molson Coors Brewing were worth $1,757,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Icon Wealth Partners LLC acquired a new position in shares of Molson Coors Brewing during the first quarter valued at $27,000. Synovus Financial Corp bought a new stake in shares of Molson Coors Brewing in the first quarter worth about $30,000. Coastal Investment Advisors Inc. increased its holdings in shares of Molson Coors Brewing by 62.5% in the second quarter. Coastal Investment Advisors Inc. now owns 762 shares of the company’s stock worth $44,000 after acquiring an additional 293 shares in the last quarter. First Mercantile Trust Co. bought a new stake in shares of Molson Coors Brewing in the second quarter worth about $49,000. Finally, Signaturefd LLC increased its holdings in shares of Molson Coors Brewing by 29.6% in the first quarter. Signaturefd LLC now owns 1,203 shares of the company’s stock worth $72,000 after acquiring an additional 275 shares in the last quarter. Hedge funds and other institutional investors own 76.26% of the company’s stock.

In related news, VP Brian Tabolt sold 1,825 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $56.94, for a total transaction of $103,915.50. Following the completion of the transaction, the vice president now directly owns 6,218 shares in the company, valued at $354,052.92. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 2.48% of the stock is currently owned by company insiders.

Shares of NYSE:TAP traded up $0.13 during mid-day trading on Thursday, reaching $55.17. 357,745 shares of the stock were exchanged, compared to its average volume of 1,401,747. The company has a quick ratio of 0.47, a current ratio of 0.64 and a debt-to-equity ratio of 0.60. The company has a market cap of $12.45 billion, a P/E ratio of 10.95, a P/E/G ratio of 2.42 and a beta of 0.76. Molson Coors Brewing Co has a one year low of $49.92 and a one year high of $67.62. The stock’s 50 day simple moving average is $52.73 and its 200-day simple moving average is $56.87.

Molson Coors Brewing (NYSE:TAP) last posted its quarterly earnings data on Wednesday, July 31st. The company reported $1.52 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.65 by ($0.13). The firm had revenue of $2.95 billion for the quarter, compared to the consensus estimate of $3.03 billion. Molson Coors Brewing had a return on equity of 7.33% and a net margin of 6.85%. The firm’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.88 earnings per share. Analysts anticipate that Molson Coors Brewing Co will post 4.36 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Friday, August 30th were issued a dividend of $0.57 per share. The ex-dividend date was Thursday, August 29th. This is an increase from Molson Coors Brewing’s previous quarterly dividend of $0.41. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.13%. Molson Coors Brewing’s dividend payout ratio (DPR) is presently 45.24%.

Several equities research analysts have issued reports on the company. Credit Suisse Group assumed coverage on Molson Coors Brewing in a report on Monday, June 10th. They issued an “underperform” rating and a $50.00 price target for the company. ValuEngine downgraded Molson Coors Brewing from a “sell” rating to a “strong sell” rating in a report on Wednesday, September 11th. Bank of America downgraded Molson Coors Brewing from a “buy” rating to an “underperform” rating in a report on Monday, July 15th. Bryan, Garnier & Co restated a “sell” rating and issued a $51.00 price target on shares of Molson Coors Brewing in a report on Thursday, August 1st. Finally, BMO Capital Markets increased their price target on Molson Coors Brewing to $65.00 in a report on Thursday, August 1st. Five analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company. Molson Coors Brewing has an average rating of “Hold” and an average price target of $63.33.

Molson Coors Brewing Company Profile

Molson Coors Brewing Company manufactures, markets, and sells beer and other malt beverage products in the United States, Canada, Europe, and internationally. The company sells various products under the Blue Moon, Coors Banquet, Coors Light, Miller Genuine Draft, Miller Lite, Hamm's, Icehouse, Keystone, Mickey's, Miller64, Miller High Life, Milwaukee's Best, Olde English, Steel Reserve, Grolsch, Hop Valley, Leinenkugel's, Peroni Nastro Azurro, Pilsner Urquell, Revolver, Saint Archer, Sol, Terrapin, Crispin, Smith & Forge, Arnold Palmer Spiked, Henry's Hard, Redd's, and Steel Reserve Alloy Series brands.

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

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