Trade Report: Today, Mutual of America Capital Management LLC Cuts Stake in Molson Coors Brewing Co. (TAP)

Today, Mutual of America Capital Management LLC Cuts Stake in Molson Coors Brewing Co. (TAP)

Mutual of America Capital Management LLC cut its stake in shares of Molson Coors Brewing Co. (NYSE:TAP) by 2.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,606 shares of the company’s stock after selling 585 shares during the period. Mutual of America Capital Management LLC’s holdings in Molson Coors Brewing were worth $2,263,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Molson Coors Brewing by 3.2% in the second quarter. Vanguard Group Inc. now owns 15,800,460 shares of the company’s stock valued at $1,597,901,000 after buying an additional 494,251 shares during the period. BlackRock Institutional Trust Company N.A. raised its position in shares of Molson Coors Brewing by 0.8% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 4,529,768 shares of the company’s stock valued at $458,095,000 after buying an additional 33,754 shares during the period. BlackRock Fund Advisors raised its position in shares of Molson Coors Brewing by 6.4% in the second quarter. BlackRock Fund Advisors now owns 2,805,987 shares of the company’s stock valued at $283,769,000 after buying an additional 168,806 shares during the period. TIAA CREF Investment Management LLC raised its position in shares of Molson Coors Brewing by 1.8% in the second quarter. TIAA CREF Investment Management LLC now owns 2,738,518 shares of the company’s stock valued at $276,946,000 after buying an additional 47,720 shares during the period. Finally, Waddell & Reed Financial Inc. raised its position in shares of Molson Coors Brewing by 2.1% in the second quarter. Waddell & Reed Financial Inc. now owns 2,052,436 shares of the company’s stock valued at $207,563,000 after buying an additional 42,269 shares during the period. 77.21% of the stock is owned by institutional investors.

Shares of Molson Coors Brewing Co. (NYSE:TAP) traded up 0.50% during midday trading on Monday, hitting $99.83. The company had a trading volume of 1,527,031 shares. The stock has a 50 day moving average price of $104.16 and a 200 day moving average price of $102.14. The firm has a market capitalization of $21.45 billion, a P/E ratio of 36.04 and a beta of 0.98. Molson Coors Brewing Co. has a 1-year low of $80.78 and a 1-year high of $112.19.

Molson Coors Brewing (NYSE:TAP) last announced its quarterly earnings data on Tuesday, November 1st. The company reported $1.03 earnings per share for the quarter, missing analysts’ consensus estimates of $1.05 by $0.02. Molson Coors Brewing had a return on equity of 7.21% and a net margin of 11.48%. The firm earned $947.60 million during the quarter, compared to analysts’ expectations of $985.75 million. During the same quarter in the previous year, the firm earned $1.40 earnings per share. Molson Coors Brewing’s revenue was down 6.9% on a year-over-year basis. On average, equities analysts anticipate that Molson Coors Brewing Co. will post $5.74 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 15th. Investors of record on Wednesday, November 30th will be issued a $0.41 dividend. The ex-dividend date of this dividend is Monday, November 28th. This represents a $1.64 dividend on an annualized basis and a yield of 1.65%. Molson Coors Brewing’s payout ratio is currently 60.74%.

Several brokerages have weighed in on TAP. Susquehanna increased their price objective on Molson Coors Brewing from $129.00 to $159.00 and gave the company a “positive” rating in a report on Wednesday, September 21st. Stifel Nicolaus increased their price objective on Molson Coors Brewing from $136.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday, August 3rd. Goldman Sachs Group Inc. began coverage on Molson Coors Brewing in a report on Monday, October 10th. They set a “buy” rating and a $130.00 price objective for the company. Citigroup Inc. increased their price objective on Molson Coors Brewing from $115.00 to $120.00 and gave the company a “buy” rating in a report on Monday, September 19th. Finally, Zacks Investment Research upgraded Molson Coors Brewing from a “hold” rating to a “strong-buy” rating and set a $125.00 target price on the stock in a research report on Tuesday, October 4th. Two investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $129.71.

In other Molson Coors Brewing news, CEO Krishnan Anand sold 13,000 shares of Molson Coors Brewing stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $110.64, for a total value of $1,438,320.00. Following the completion of the sale, the chief executive officer now owns 35,705 shares of the company’s stock, valued at approximately $3,950,401.20. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Mark Hunter sold 5,851 shares of Molson Coors Brewing stock in a transaction that occurred on Tuesday, November 22nd. The stock was sold at an average price of $100.00, for a total transaction of $585,100.00. Following the completion of the sale, the chief executive officer now directly owns 80,785 shares of the company’s stock, valued at approximately $8,078,500. The disclosure for this sale can be found here. 2.53% of the stock is currently owned by corporate insiders.

About Molson Coors Brewing

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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