HighTower Advisors LLC Sells 1,323 Shares of Molson Coors Brewing Company (TAP)

HighTower Advisors LLC cut its position in Molson Coors Brewing Company (NYSE:TAP) by 18.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,748 shares of the company’s stock after selling 1,323 shares during the period. HighTower Advisors LLC’s holdings in Molson Coors Brewing were worth $552,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. USA Mutuals Advisors Inc. increased its position in Molson Coors Brewing by 33.3% in the first quarter. USA Mutuals Advisors Inc. now owns 80,000 shares of the company’s stock valued at $7,657,000 after buying an additional 20,000 shares during the period. Paloma Partners Management Co increased its position in Molson Coors Brewing by 9.5% in the first quarter. Paloma Partners Management Co now owns 63,480 shares of the company’s stock valued at $6,076,000 after buying an additional 5,522 shares during the period. AQR Capital Management LLC increased its position in Molson Coors Brewing by 5.6% in the first quarter. AQR Capital Management LLC now owns 938,250 shares of the company’s stock valued at $89,800,000 after buying an additional 50,140 shares during the period. Highbridge Capital Management LLC increased its position in Molson Coors Brewing by 461.5% in the first quarter. Highbridge Capital Management LLC now owns 20,601 shares of the company’s stock valued at $1,972,000 after buying an additional 16,932 shares during the period. Finally, Nomura Holdings Inc. increased its position in Molson Coors Brewing by 106.7% in the first quarter. Nomura Holdings Inc. now owns 4,395 shares of the company’s stock valued at $421,000 after buying an additional 70,030 shares during the period. Hedge funds and other institutional investors own 79.50% of the company’s stock.

Molson Coors Brewing Company (TAP) traded up 0.90% during midday trading on Tuesday, reaching $90.66. The company’s stock had a trading volume of 1,778,206 shares. The stock has a market cap of $1.83 billion, a price-to-earnings ratio of 9.06 and a beta of 0.91. Molson Coors Brewing Company has a one year low of $85.34 and a one year high of $112.19. The stock’s 50 day moving average price is $87.31 and its 200-day moving average price is $93.80.

Molson Coors Brewing (NYSE:TAP) last posted 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 firm had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.10 billion. Molson Coors Brewing had a return on equity of 7.41% and a net margin of 19.78%. The company’s revenue was down .6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.11 earnings per share. On average, analysts forecast that Molson Coors Brewing Company will post $4.32 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, September 15th. Investors of record on Thursday, August 31st will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Tuesday, August 29th. Molson Coors Brewing ‘s dividend payout ratio is presently 16.38%.

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Several equities analysts recently weighed in on TAP shares. Cowen and Company downgraded Molson Coors Brewing from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $120.00 to $105.00 in a research report on Thursday, April 20th. Vetr upgraded Molson Coors Brewing from a “buy” rating to a “strong-buy” rating and set a $103.20 target price on the stock in a research report on Wednesday, May 3rd. Societe Generale downgraded Molson Coors Brewing from a “buy” rating to a “hold” rating and lowered their target price for the company from $118.00 to $98.00 in a research report on Thursday, May 4th. Susquehanna Bancshares Inc reiterated a “positive” rating and set a $114.00 target price (down from $140.00) on shares of Molson Coors Brewing in a research report on Thursday, May 4th. Finally, UBS AG reiterated a “neutral” rating and set a $100.00 target price (down from $108.00) on shares of Molson Coors Brewing in a research report on Friday, May 5th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the company. Molson Coors Brewing has a consensus rating of “Hold” and an average price target 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 shares were sold at an average price of $91.90, for a total value of $1,582,058.50. Following the transaction, the chief executive officer now directly owns 99,217 shares of the company’s stock, valued at approximately $9,118,042.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 2.53% of the company’s stock.

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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