Below are the dividend stocks that were subject to analyst moves before the bell. Analysts weigh in with insight and commentary as to what you can expect going forward.
1. Sandisk Downgraded by Morgan Stanley
Data storage software supplier Sandisk Corporation (SNDK) saw its stock downgraded Monday with Morgan Stanley confirming an Equal Weight rating and a new price target of $75.00. Finishing Friday’s session at $66.10 (down 0.8%), Sandisk’s adjusted dividend yield is 1.82% with an annual payout of $1.20 (paid quarterly). The stock is 39.23% from its 52-week high.
2. Heritage Oaks Bancorp Downgraded by Keefe Bruyette & Woods
Bank holding company Heritage Oaks Bancorp (HEOP) was downgraded pre-market on Monday with Keefe Bruyette & Woods lowering their rating to Market Perform. Finishing Friday’s session at $8.74 (up 2.17%), Heritage Oaks’ adjusted dividend yield is 2.75% with an annual payout of $0.24 (paid quarterly). The stock is 2.02% from its 52-week high.
3. Twenty-First Century Fox Downgraded by Topeka Capital
Diversified entertainment provider Twenty-First Century Fox (FOXA ) saw its stock downgraded pre-market on Monday with Topeka Capital highlighting a shift in their valuation and adding the stock to their Hold list. This re-rating comes at the same time that current CEO Rupert Murdoch announced succession plans, which would see his son, James, take the reins. Finishing Friday’s session at $32.69 (down 0.6%), FOXA’s adjusted dividend yield is 0.92% with an annual payout of $0.30 (paid quarterly). The stock is 16.76% from its 52-week high.
4. Diageo Upgraded by RBC Capital
Beverage supplier Diageo (DEO ) saw its stock upgraded by RBC Capital on Monday with an Outperform rating added. Citing rumours of a potential takeover by private equity firm 3G Capital, the analyst who covered the stock was also confident that a shift in margins and cost savings could translate into further upside potential. Diageo is the world’s largest producer of spirits. Finishing Friday’s session at $117.91 (flat), Diageo’s adjusted dividend yield is 2.85% with an annual payout of $3.36 (paid quarterly). The stock is 9.89% from its 52-week high.
5. BHP Billiton Upgraded by HSBC
Australian mining company BHP Billiton (BHP ) saw its stock upgraded pre-market on Monday with HSBC changing its rating to Hold from Reduce. Finishing Friday’s session at $43.30 (down 0.5%), BHP Billiton’s adjusted dividend yield is 5.59% with an annual payout of $2.42 (paid quarterly). The stock is 41.42% from its 52-week high.
