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. Wells Fargo Upgraded by Guggenheim
San Francisco-based bank Wells Fargo (WFC ) saw its stock upgraded to Buy from Neutral on Wednesday, with Guggenheim increasing their price target to $64. Recently, the bank was named the most valuable in the world based on market capitalization. Finishing Tuesday’s session at $57.40 (down 0.3%), Wells Fargo’s adjusted dividend yield is 2.61%, with an annual payout of $1.50 (paid quarterly). The stock is 2.31% from its 52-week high.
2. Williams Sonoma Upgraded by JP Morgan
Williams Sonoma (WSM ), the kitchenware and consumer retail supplier, was upgraded by JP Morgan on Wednesday, with the bank putting the stock on their Overweight list. Their new price target is $103. Finishing Tuesday’s session at $81.77 (up 1.5%), Williams Sonoma’s adjusted dividend yield is 1.71%, with an annual payout of $1.40 (paid quarterly). The stock is 4.22% from its 52-week high.
3. Potash Downgraded by Raymond James
Commercial mineral producer Potash Corp. (POT) saw its stock downgraded on Wednesday, with Raymond James shifting their rating to Market Perform. No target price was supplied. Set to release their second quarter earnings on the 30th, analysts are anticipating gross margins of between $1.5 and $1.8 billion on volume of 9.2 million tons. Finishing Tuesday’s session at $27.32 (up 0.1%), Potash’s adjusted dividend yield is 5.56%, with an annual payout of $1.52 (paid quarterly). The stock is 27.34% from its 52-week high.
4. HCC Insurance Holdings Downgraded by RBC Capital
HCC Insurance Holdings (HCC ) was downgraded by RBC Capital on Wednesday, with the broker confirming a Sector Perform rating. No target price was supplied. The insurer announced first half results yesterday, with net earnings coming in at $193.3 million (EPS of $2.01) and a 14% increase in gross premiums for the period. Finishing Tuesday’s session at $77.25, HCC Insurance Holdings’ adjusted dividend yield is 1.53%, with an annual payout of $1.18. The stock is 0.95% from its 52-week high.
5. Archer Daniels Midland Downgraded by Citigroup
Diversified food supplier Archer Daniels Midland (ADM ) saw its stock downgraded to Neutral by Citigroup on Tuesday, with a new price target of $51. Finishing Tuesday’s session at $48.35 (up 2.3%), ADM’s adjusted dividend yield is 2.32%, with an annual payout of $1.12. The stock is 10.31% from its 52-week high.
