Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Molson Coors Brewing Co Class B (NYSE:TAP) by 45.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 88,714 shares of the company’s stock after acquiring an additional 27,798 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Molson Coors Brewing Co Class B were worth $6,036,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Rockefeller Capital Management L.P. purchased a new position in Molson Coors Brewing Co Class B during the first quarter valued at approximately $102,000. Ostrum Asset Management bought a new stake in Molson Coors Brewing Co Class B during the first quarter valued at approximately $103,000. Summit Trail Advisors LLC lifted its position in Molson Coors Brewing Co Class B by 5,499.7% during the first quarter. Summit Trail Advisors LLC now owns 102,530 shares of the company’s stock valued at $103,000 after purchasing an additional 100,699 shares during the last quarter. Independent Order of Foresters bought a new stake in Molson Coors Brewing Co Class B during the second quarter valued at approximately $141,000. Finally, Wetherby Asset Management Inc. bought a new stake in Molson Coors Brewing Co Class B during the first quarter valued at approximately $224,000. 77.46% of the stock is owned by institutional investors.

Several equities research analysts have issued reports on TAP shares. Morgan Stanley lifted their target price on shares of Molson Coors Brewing Co Class B from $69.00 to $74.00 and gave the company an “equal weight” rating in a research report on Thursday, August 2nd. Susquehanna Bancshares lifted their target price on shares of Molson Coors Brewing Co Class B from $80.00 to $84.00 and gave the company a “positive” rating in a research report on Thursday, August 2nd. Citigroup dropped their target price on shares of Molson Coors Brewing Co Class B from $88.00 to $74.00 and set a “buy” rating for the company in a research report on Friday, May 4th. Stifel Nicolaus reiterated a “buy” rating and set a $100.00 target price on shares of Molson Coors Brewing Co Class B in a research report on Thursday, April 19th. Finally, Zacks Investment Research lowered shares of Molson Coors Brewing Co Class B from a “hold” rating to a “sell” rating in a research report on Tuesday, April 24th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. Molson Coors Brewing Co Class B has a consensus rating of “Hold” and an average target price of $80.92.

Shares of Molson Coors Brewing Co Class B stock opened at $67.89 on Friday. Molson Coors Brewing Co Class B has a 1 year low of $58.75 and a 1 year high of $91.52. The company has a market cap of $14.12 billion, a price-to-earnings ratio of 15.19, a P/E/G ratio of 2.09 and a beta of 0.73. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.66 and a quick ratio of 0.51.

Molson Coors Brewing Co Class B (NYSE:TAP) last announced its quarterly earnings data on Wednesday, August 1st. The company reported $1.88 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.83 by $0.05. The firm had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.08 billion. Molson Coors Brewing Co Class B had a net margin of 11.68% and a return on equity of 6.97%. The business’s quarterly revenue was down .2% on a year-over-year basis. During the same period in the previous year, the business posted $1.70 EPS. equities research analysts predict that Molson Coors Brewing Co Class B will post 4.85 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 17th. Stockholders of record on Friday, August 31st will be issued a $0.41 dividend. The ex-dividend date of this dividend is Thursday, August 30th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.42%. Molson Coors Brewing Co Class B’s payout ratio is 36.69%.

In other news, insider Krishnan Anand sold 2,595 shares of the business’s stock in a transaction that occurred on Wednesday, August 1st. The shares were sold at an average price of $64.96, for a total value of $168,571.20. Following the completion of the sale, the insider now directly owns 49,946 shares in the company, valued at approximately $3,244,492.16. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 2.55% of the company’s stock.

About Molson Coors Brewing Co Class B

Molson Coors Brewing Company manufactures and sells beer and other beverage products in the United States, Canada, Europe, and internationally. It sells various products under the Coors Light, Miller Lite, Coors Banquet, the Blue Moon Brewing Company brands, the Jacob Leinenkugel Brewing Company brands, Keystone, Icehouse, Mickey's, Miller 64, Miller Genuine Draft, Miller High Life, Milwaukee's Best, Hamm's, Olde English 800, Steel Reserve, Crispin, Smith & Forge, Redd's, the Henry's Hard Soda, and Steel Reserve Alloy Series brands.

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Institutional Ownership by Quarter for Molson Coors Brewing Co Class B (NYSE:TAP)

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