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. Ford Upgraded by Goldman Sachs
Car manufacturer Ford (F ) saw its stock upgraded on Tuesday with Goldman Sachs confirming a Buy rating and a new price target of $19.00. Citing further upside growth potential and the launch of the F-150, the investment bank preferred Ford over its rival General Motors. Finishing Tuesday’s session at $15.29 (up 1.1%), Ford’s adjusted dividend yield is 3.92% with an annual payout of $0.60 (paid quarterly). The stock is 15.62% from its 52-week high.
2. Royal Caribbean Cruises Upgraded by Goldman Sachs
Resort company Royal Caribbean Cruises (RCL ) was upgraded on Wednesday with Goldman Sachs lifting their rating to Buy. No price target was provided. Finishing Tuesday’s session at $80.50 (down 1.1%), RCL’s adjusted dividend yield is 1.49% with an annual payout of $1.20 (paid quarterly). The stock is 5.91% from its 52-week high.
3. McCormick & Co. Upgraded by Bernstein
Processed and packaged goods provider McCormick & Co. (MKC ) saw its stock upgraded pre-market on Wednesday with Bernstein changing its rating to Outperform and adding a new target price of $93. McCormack confirmed that they would be purchasing One World Foods for $100 million cash. Finishing Tuesday’s session at $80.26 (up 0.1%), McCormick’s adjusted dividend yield is 1.99% with an annual payout of $1.60 (paid quarterly). The stock is 0.47% from its 52-week high.
4. Autoliv Downgraded by Goldman Sachs
Auto parts supplier Autoliv (ALV ) saw its stock downgraded pre-market Wednesday with Goldman Sachs adding the stock to their Sell list. The new price target of $119 is $6 below the previous valuation. This rerating comes in stark contrast to Zacks’ Buy on the stock. Finishing Tuesday’s session at $122.98 (up 1.2%), Autoliv’s adjusted dividend yield is 1.82% with an annual payout of $2.24 (paid quarterly). The stock is 6.97% from its 52-week high.
5. Goldman Sachs Downgraded by Deutsche Bank
Investment bank Goldman Sachs (GS ) saw its stock downgraded to Hold by Deutsche Bank on Wednesday. Confirming a new target price of $206, the analyst was concerned about capital markets revenues and the sector in general. Finishing Tuesday’s session at $218.40 (up 0.9%), Goldman Sachs’ adjusted dividend yield is 1.19% with an annual payout of $2.60 (paid quarterly). The stock is 0.17% from its 52-week high.
6. Independent Bank Downgraded by Baird
Regional bank Independent Bank (INDB ) was downgraded on Wednesday with Baird lowering their target price to $40 and their rating to Underperform. In May, short interest in the stock was reported to have risen 30% to 3.7% of the total common shares. Finishing Tuesday’s session at $48.94 (up 0.5%), Independent Bank’s adjusted dividend yield is 2.13% with an annual payout of $1.04 (paid quarterly). The stock is 0.69% from its 52-week high.
