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

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

Analysts Set New Price Targets

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

Molson Coors Beverage Trading Down 8.5 %

The business has a fifty day simple moving average of $65.67 and a 200 day simple moving average of $64.50.

Molson Coors Beverage (NYSE:TAP.A) last announced its earnings results on Tuesday, February 13th. The company reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.07. The company 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. Investors of record on Friday, March 1st were issued a $0.44 dividend. The ex-dividend date of this dividend was Thursday, February 29th. This represents a $1.76 dividend on an annualized basis and a yield of 2.84%. This is a boost from Molson Coors Beverage’s previous quarterly dividend of $0.41. Molson Coors Beverage’s dividend payout ratio (DPR) is presently 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.