Molson Coors Brewing Company (TAP) Shares Bought by Stoneridge Investment Partners LLC

Stoneridge Investment Partners LLC boosted its stake in Molson Coors Brewing Company (NYSE:TAP) by 91.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 96,814 shares of the company’s stock after buying an additional 46,137 shares during the period. Molson Coors Brewing accounts for approximately 1.2% of Stoneridge Investment Partners LLC’s investment portfolio, making the stock its 18th largest position. Stoneridge Investment Partners LLC’s holdings in Molson Coors Brewing were worth $8,359,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in TAP. Amica Retiree Medical Trust purchased a new position in shares of Molson Coors Brewing during the first quarter valued at approximately $105,000. Bessemer Group Inc. raised its position in shares of Molson Coors Brewing by 12.8% in the second quarter. Bessemer Group Inc. now owns 1,230 shares of the company’s stock valued at $106,000 after buying an additional 140 shares in the last quarter. Penserra Capital Management LLC raised its position in shares of Molson Coors Brewing by 9.5% in the first quarter. Penserra Capital Management LLC now owns 1,196 shares of the company’s stock valued at $114,000 after buying an additional 104 shares in the last quarter. Advisory Services Network LLC purchased a new position in shares of Molson Coors Brewing during the first quarter valued at approximately $130,000. Finally, Korea Investment CORP raised its position in shares of Molson Coors Brewing by 142.0% in the second quarter. Korea Investment CORP now owns 1,750 shares of the company’s stock valued at $151,000 after buying an additional 1,027 shares in the last quarter. Institutional investors and hedge funds own 78.58% of the company’s stock.

Shares of Molson Coors Brewing Company (NYSE:TAP) traded down 0.24% on Friday, hitting $89.74. The company had a trading volume of 1,091,526 shares. The stock’s 50-day moving average is $88.69 and its 200 day moving average is $93.29. 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 $19.32 billion, a price-to-earnings ratio of 8.97 and a beta of 0.91.

Molson Coors Brewing (NYSE:TAP) last posted its earnings results on Wednesday, August 2nd. The company reported $1.66 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 analyst estimates of $3.10 billion. Molson Coors Brewing had a return on equity of 7.41% and a net margin of 19.78%. The firm’s revenue was down .6% on a year-over-year basis. During the same period last year, the business earned $1.11 earnings per share. Equities analysts expect that Molson Coors Brewing Company will post $4.31 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 1.83%. The ex-dividend date is Tuesday, August 29th. Molson Coors Brewing ‘s dividend payout ratio (DPR) is 16.38%.

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TAP has been the subject of several recent analyst reports. BidaskClub lowered Molson Coors Brewing from a “sell” rating to a “strong sell” rating in a research report on Thursday, June 22nd. Zacks Investment Research lowered Molson Coors Brewing from a “hold” rating to a “strong sell” rating in a research report on Tuesday, August 8th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $111.00 price target on shares of Molson Coors Brewing in a research report on Friday, July 14th. Societe Generale lowered Molson Coors Brewing from a “buy” rating to a “hold” rating and lowered their price target for the stock from $118.00 to $98.00 in a research report on Thursday, May 4th. Finally, Cowen and Company lifted their price target on Molson Coors Brewing from $96.00 to $100.00 and gave the stock a “market perform” rating in a research report on Friday, June 9th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $111.60.

In related news, CEO Gavin Hattersley sold 17,215 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 99,217 shares of the company’s stock, valued at $9,118,042.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 2.53% of the stock is owned by company insiders.

About Molson Coors Brewing

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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