Molson Coors Beverage (NYSE:TAP.A) Shares Down 5.7% – Time to Sell?

Molson Coors Beverage (NYSE:TAP.A)’s share price traded down 5.7% on Wednesday . The company traded as low as $52.00 and last traded at $50.99. 144 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 791 shares. The stock had previously closed at $54.06.

Molson Coors Beverage Price Performance

The stock has a 50 day moving average price of $56.39 and a 200-day moving average price of $58.17.

Molson Coors Beverage (NYSE:TAP.A) last posted its quarterly earnings results on Thursday, May 8th. The company reported $0.50 earnings per share for the quarter. The business had revenue of $2.30 billion during the quarter.

Molson Coors Beverage Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 20th. Shareholders of record on Friday, June 6th were issued a $0.47 dividend. This represents a $1.88 annualized dividend and a yield of 3.69%. The ex-dividend date of this dividend was Friday, June 6th. Molson Coors Beverage’s payout ratio is currently 77.05%.

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.