Blume Capital Management Inc. Boosts Holdings in Molson Coors Brewing Co (NYSE:TAP)

Blume Capital Management Inc. lifted its holdings in shares of Molson Coors Brewing Co (NYSE:TAP) by 5.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 22,120 shares of the company’s stock after purchasing an additional 1,045 shares during the quarter. Blume Capital Management Inc.’s holdings in Molson Coors Brewing were worth $1,239,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. KAMES CAPITAL plc increased its holdings in shares of Molson Coors Brewing by 25.0% during the first quarter. KAMES CAPITAL plc now owns 41,317 shares of the company’s stock worth $2,465,000 after purchasing an additional 8,256 shares during the period. Nissay Asset Management Corp Japan ADV increased its holdings in shares of Molson Coors Brewing by 3.6% during the first quarter. Nissay Asset Management Corp Japan ADV now owns 18,766 shares of the company’s stock worth $1,119,000 after purchasing an additional 660 shares during the period. Hi Line Capital Management LLC boosted its position in shares of Molson Coors Brewing by 1.3% during the 1st quarter. Hi Line Capital Management LLC now owns 89,365 shares of the company’s stock worth $5,331,000 after acquiring an additional 1,132 shares in the last quarter. Equity Investment Corp boosted its position in shares of Molson Coors Brewing by 13.4% during the 1st quarter. Equity Investment Corp now owns 1,420,903 shares of the company’s stock worth $84,757,000 after acquiring an additional 167,883 shares in the last quarter. Finally, First Republic Investment Management Inc. boosted its position in shares of Molson Coors Brewing by 54.5% during the 1st quarter. First Republic Investment Management Inc. now owns 31,069 shares of the company’s stock worth $1,853,000 after acquiring an additional 10,965 shares in the last quarter. 77.59% of the stock is currently owned by institutional investors.

Shares of NYSE TAP opened at $50.86 on Friday. Molson Coors Brewing Co has a twelve month low of $49.92 and a twelve month high of $69.13. 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 capitalization of $11.18 billion, a PE ratio of 10.09, a P/E/G ratio of 2.65 and a beta of 0.79. The firm has a fifty day simple moving average of $54.49 and a 200 day simple moving average of $58.42.

Molson Coors Brewing (NYSE:TAP) last posted its quarterly earnings results on Wednesday, July 31st. The company reported $1.52 earnings per share for the quarter, missing the consensus estimate of $1.65 by ($0.13). The company had revenue of $2.95 billion during the quarter, compared to the consensus estimate of $3.03 billion. Molson Coors Brewing had a net margin of 6.85% and a return on equity of 7.33%. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same period last year, the firm posted $1.88 earnings per share. As a group, equities analysts expect that Molson Coors Brewing Co will post 4.36 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Friday, August 30th will be paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 4.48%. This is a boost from Molson Coors Brewing’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend is Thursday, August 29th. Molson Coors Brewing’s payout ratio is presently 32.54%.

Several analysts recently issued reports on TAP shares. Bryan, Garnier & Co reiterated a “sell” rating and set a $51.00 price target on shares of Molson Coors Brewing in a research report on Thursday, August 1st. Guggenheim lowered their target price on shares of Molson Coors Brewing from $63.00 to $52.00 and set a “neutral” rating for the company in a research note on Thursday, August 1st. Bank of America downgraded shares of Molson Coors Brewing from a “buy” rating to an “underperform” rating in a research note on Monday, July 15th. Credit Suisse Group started coverage on shares of Molson Coors Brewing in a research note on Monday, June 10th. They set an “underperform” rating and a $50.00 target price for the company. Finally, ValuEngine raised shares of Molson Coors Brewing from a “strong sell” rating to a “sell” rating in a research note on Friday. Five equities research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. Molson Coors Brewing currently has a consensus rating of “Hold” and a consensus target price of $62.91.

Molson Coors Brewing 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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