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Molson Coors Brewing Co. (TAP) CFO Stewart Glendinning Bought 3,000 Shares

August 08, 2011 | About:
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hyperman299

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CFO of Molson Coors Brewing Co. Cl B (TAP) Stewart Glendinning bought 3,000 shares of the company on 08/05/2011 at an average price of $41.82. The total transaction amount is $125,460.

Molson Coors Brewing Company is world's fifth-largest global brewer. Molson Coors Brewing Co. Cl B has a market cap of $7.01 billion; its shares were traded at around $41.99 with a P/E ratio of 11.81 and P/S ratio of 1.49. The dividend yield of Molson Coors Brewing Co. Cl B stocks is 3.01%.

Brian Rogers bought 1,800,000 shares in the quarter that ended on 06/30/2011, which is 0.3719% of the $21.55 billion portfolio of T. Rowe Price Equity Income Fund. Richard Aster Jr bought 12,000 shares in the quarter that ended on 06/30/2011, which is 0.0158% of the $3.4 billion portfolio of Meridian Fund. Richard Pzena bought 3,548,266 shares in the quarter that ended on 03/31/2011, which is 1.41% of the $11.79 billion portfolio of Pzena Investment Management LLC. David Dreman owns 62,369 shares as of 03/31/2011, which accounts for 0.05% of the $5.32 billion portfolio of Dreman Value Management. Robert Olstein owns 90,000 shares as of 03/31/2011, which accounts for 0.71% of the $596 million portfolio of Olstein Financial Alert Fund.

Mr. Glendinning has served as CFO of TAP since July 2008. Previously, he held the position of chief financial officer since 2005 at Coors Brewers Limited, a wholly owned subsidiary of the company. He was also a managing director of The Hackett Group from 1997 to 2005, and a director of MillerCoors.

Vice Chairman of the Board Peter H. Coors bought 1,000 shares of TAP stock on 08/03/2011 at the average price of 44.46. Peter H. Coors owns at least 2,521,000 shares after this. The price of the stock has decreased by 5.56% since.

CFO Stewart Glendinning has traded in Molson Coors Brewing Company twice recently. On 3/11/2011, he bought 3,000 shares of the company at the average price of $44.06. Then, on 8/5/2011, he purchased an additional 3,000 shares.

Molson Coors Brewing Company recently reported 5.7 percent higher net sales, a 5.7 percent decrease in net income from continuing operations, and a 1.2 percent decrease in underlying after-tax income for the second quarter 2011, driven by lower sales volumes, higher commodity inflation and investments in the company's international business, largely offset by positive pricing, continued cost reductions and favorable foreign currency movements.

The company's president and chief executive officer Peter Swinburn said, "In the second quarter, underlying after-tax income decreased about 1%. Positive beer pricing, cost reductions in our core businesses and favorable foreign exchange were offset by the impact of continuing weak economic conditions, commodity inflation and investments in our international business in the quarter."

Molson Coors Brewing Company has a predictability rating of 1 star.

Rating: 2.9/5 (10 votes)

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