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

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

Analyst Upgrades and Downgrades

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

Molson Coors Beverage Stock Down 6.2 %

The firm’s 50 day moving average is $65.66 and its two-hundred day moving average is $64.52.

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

Molson Coors Beverage Increases Dividend

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

About Molson Coors Beverage

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.