Molson Coors Beverage (NYSE:TAP.A) Trading Down 6.2%

Molson Coors Beverage (NYSE:TAP.A)’s share price was down 6.2% during mid-day trading on Thursday . The stock traded as low as $63.50 and last traded at $63.50. Approximately 6 shares were traded during mid-day trading, a decline of 99% from the average daily volume of 420 shares. The stock had previously closed at $67.70.

Analysts Set New Price Targets

Separately, TheStreet raised shares of Molson Coors Beverage from a “c+” rating to a “b-” rating in a research report on Thursday, February 15th.

Molson Coors Beverage Trading Down 6.2 %

The stock’s 50 day simple moving average is $65.66 and its 200 day simple moving average is $64.52.

Molson Coors Beverage (NYSE:TAP.A) last posted its quarterly earnings results on Tuesday, February 13th. The company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.07. The business had revenue of $3.33 billion during the quarter.

Molson Coors Beverage Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, March 1st were issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a dividend yield of 2.77%. The ex-dividend date was Thursday, February 29th. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.41. Molson Coors Beverage’s dividend payout ratio (DPR) is 72.13%.

Molson Coors Beverage Company Profile

Molson Coors Beverage Company manufactures, markets, and sells beer and other malt beverage products under various brands in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers flavored malt beverages including hard seltzers, craft, and ready to drink beverages. It provides its products under Aspall Cider, Blue Moon, Coors Original, Hop Valley brands, Leinenkugel's, Miller Genuine Draft, Molson Ultra, Sharp's, Staropramen, and Vizzy Hard Seltzer above premier brands; Bergenbier, Borsodi, Carling, Coors Banquet, Coors Light, Jelen, Kamenitza, Miller Lite, Molson Canadian Lager, Molson Dry, Molson Export, and Niksicko, Ozujsko under the premium brands; and Branik, Icehouse, Keystone, Miller High Life, Milwaukee's Best, and Steel Reserve under the economy brands.