Palouse Capital Management Inc. Raises Stake in Molson Coors Brewing Co (NYSE:TAP)

Palouse Capital Management Inc. boosted its holdings in Molson Coors Brewing Co (NYSE:TAP) by 27.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 122,209 shares of the company’s stock after acquiring an additional 26,141 shares during the quarter. Molson Coors Brewing comprises about 2.5% of Palouse Capital Management Inc.’s investment portfolio, making the stock its 8th biggest holding. Palouse Capital Management Inc.’s holdings in Molson Coors Brewing were worth $6,844,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Capital Investment Advisors LLC grew its stake in shares of Molson Coors Brewing by 10.0% in the 2nd quarter. Capital Investment Advisors LLC now owns 26,685 shares of the company’s stock valued at $1,494,000 after buying an additional 2,436 shares in the last quarter. Nissay Asset Management Corp Japan ADV grew its stake in shares of Molson Coors Brewing by 3.6% in the 1st quarter. Nissay Asset Management Corp Japan ADV now owns 18,766 shares of the company’s stock valued at $1,119,000 after buying an additional 660 shares in the last quarter. Hi Line Capital Management LLC grew its stake in shares of Molson Coors Brewing by 1.3% in the 1st quarter. Hi Line Capital Management LLC now owns 89,365 shares of the company’s stock valued at $5,331,000 after buying an additional 1,132 shares in the last quarter. Equity Investment Corp grew its stake in shares of Molson Coors Brewing by 13.4% in the 1st quarter. Equity Investment Corp now owns 1,420,903 shares of the company’s stock valued at $84,757,000 after buying an additional 167,883 shares in the last quarter. Finally, First Republic Investment Management Inc. grew its stake in shares of Molson Coors Brewing by 54.5% in the 1st quarter. First Republic Investment Management Inc. now owns 31,069 shares of the company’s stock valued at $1,853,000 after buying an additional 10,965 shares in the last quarter. Hedge funds and other institutional investors own 74.99% of the company’s stock.

Molson Coors Brewing stock traded down $1.08 during trading hours on Friday, reaching $50.61. 40,922 shares of the company were exchanged, compared to its average volume of 2,050,381. The firm has a market cap of $11.13 billion, a price-to-earnings ratio of 10.04, a PEG ratio of 2.68 and a beta of 0.79. The company has a current ratio of 0.64, a quick ratio of 0.47 and a debt-to-equity ratio of 0.60. The stock has a 50-day moving average of $53.93 and a 200 day moving average of $58.08. Molson Coors Brewing Co has a 12 month low of $49.92 and a 12 month high of $69.13.

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

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Friday, August 30th will be issued a dividend of $0.57 per share. The ex-dividend date is Thursday, August 29th. This is a positive change from Molson Coors Brewing’s previous quarterly dividend of $0.41. This represents a $2.28 dividend on an annualized basis and a dividend yield of 4.51%. Molson Coors Brewing’s payout ratio is 32.54%.

Several brokerages recently commented on TAP. Credit Suisse Group began coverage on Molson Coors Brewing in a research note on Monday, June 10th. They issued an “underperform” rating and a $50.00 price target for the company. Guggenheim lowered their price target on 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 cut Molson Coors Brewing from a “buy” rating to an “underperform” rating in a research note on Monday, July 15th. BMO Capital Markets upped their target price on Molson Coors Brewing to $65.00 in a research report on Thursday, August 1st. Finally, Zacks Investment Research raised Molson Coors Brewing from a “sell” rating to a “hold” rating in a research report on Thursday, May 2nd. Five investment analysts have rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company. Molson Coors Brewing presently has an average rating of “Hold” and an average price target of $62.91.

About Molson Coors Brewing

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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