Trading Report: The Molson Coors Brewing Co. (TAP) Stake Decreased by Concert Wealth Management Inc.

The Molson Coors Brewing Co. (TAP) Stake Decreased by Concert Wealth Management Inc.

Concert Wealth Management Inc. lowered its position in Molson Coors Brewing Co. (NYSE:TAP) by 4.1% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 2,856 shares of the company’s stock after selling 122 shares during the period. Concert Wealth Management Inc.’s holdings in Molson Coors Brewing were worth $295,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Park Avenue Institutional Advisers LLC boosted its position in 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 in the last quarter. Parametrica Management Ltd bought a new position in Molson Coors Brewing during the second quarter worth about $203,000. Montag & Caldwell LLC boosted its position in Molson Coors Brewing by 6.6% in the second quarter. Montag & Caldwell LLC now owns 2,436 shares of the company’s stock worth $246,000 after buying an additional 150 shares in the last quarter. Perkins Capital Management Inc. bought a new position in Molson Coors Brewing during the second quarter worth about $288,000. Finally, Capital One National Association boosted its position in 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 in the last quarter. Institutional investors and hedge funds own 77.65% of the company’s stock.

Molson Coors Brewing Co. (NYSE:TAP) traded up 0.54% during midday trading on Friday, hitting $111.25. 1,687,375 shares of the stock traded hands. The stock’s 50-day moving average price is $105.52 and its 200 day moving average price is $100.43. Molson Coors Brewing Co. has a 52 week low of $80.78 and a 52 week high of $112.19. The company has a market capitalization of $23.89 billion, a price-to-earnings ratio of 57.67 and a beta of 0.88.

Molson Coors Brewing (NYSE:TAP) last announced its earnings results on Tuesday, August 2nd. The company reported $1.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.11. Molson Coors Brewing had a net margin of 7.54% and a return on equity of 8.21%. The business earned $986.20 million during the quarter, compared to analyst estimates of $970.25 million. During the same period in the previous year, the business posted $1.41 earnings per share. Molson Coors Brewing’s revenue for the quarter was down 1.9% on a year-over-year basis. On average, equities research analysts predict that Molson Coors Brewing Co. will post $3.29 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, September 15th. Shareholders of record on Wednesday, August 31st were given a dividend of $0.41 per share. The ex-dividend date of this dividend was Monday, August 29th. This represents a $1.64 annualized dividend and a yield of 1.47%. Molson Coors Brewing’s payout ratio is presently 88.65%.

A number of research firms recently issued reports on TAP. Susquehanna reiterated a “buy” rating and set a $130.00 price objective on shares of Molson Coors Brewing in a research report on Sunday, July 17th. Zacks Investment Research upgraded shares of Molson Coors Brewing from a “hold” rating to a “buy” rating and set a $114.00 price objective for the company in a research report on Tuesday, July 12th. Bank of America Corp. assumed coverage on shares of Molson Coors Brewing in a research report on Monday. They issued a “buy” rating and a $140.00 price target for the company. Stifel Nicolaus restated a “top pick” rating on shares of Molson Coors Brewing in a research report on Wednesday, July 6th. Finally, Citigroup Inc. upgraded shares of Molson Coors Brewing from a “neutral” rating to a “buy” rating and upped their price target for the company from $101.00 to $115.00 in a research report on Friday, July 29th. One analyst has rated the stock with a hold rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $122.10.

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

Molson Coors Brewing Company Profile

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.

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