Zacks Investment Research lowered shares of PERNOD RICARD S/ADR (OTCMKTS:PDRDY) from a hold rating to a sell rating in a research report released on Wednesday.
According to Zacks, “Pernod Ricard SA, based in France, operates as a manufacturer and seller of a wide range of wines and spirits. The company operates as holding company, with the structure divided between brand owner subsidiaries, such as The Absolut Company, Havana Club International and Chivas Brothers, which produce and develop marketing strategies for the brands, and regional distribution subsidiaries, such as Pernod Ricard Europe, Pernod Ricard Americas and Pernod Ricard Asia, which implement marketing strategies and distribute local brands. The Company is active in eight principal beverage sectors: whiskies, aniseed spirits, liqueurs, cognacs and brandies, white spirits and rums, bitters, champagnes and wines. Pernod Ricard SA’s flagship brands include Ricard, Havana Club, Ballantine’s, Malibu, Martell, The Glenlivet, Chivas Regal, Jameson and Absolut Vodka, among others. “
Separately, Royal Bank of Canada upgraded PERNOD RICARD S/ADR from an underperform rating to a sector perform rating in a research report on Monday, October 22nd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of Hold and an average target price of $37.00.
Shares of PDRDY stock opened at $33.34 on Wednesday. PERNOD RICARD S/ADR has a twelve month low of $29.38 and a twelve month high of $34.95.
The company also recently announced a Semi-Annual dividend, which will be paid on Monday, December 17th. Shareholders of record on Tuesday, November 27th will be given a $0.217 dividend. The ex-dividend date is Monday, November 26th. This is an increase from PERNOD RICARD S/ADR’s previous Semi-Annual dividend of $0.16. PERNOD RICARD S/ADR’s dividend payout ratio (DPR) is currently 31.62%.
About PERNOD RICARD S/ADR
Pernod Ricard SA produces and sells beers, wines, and spirits in the Americas, Europe, Asia, and internationally. Its principal brands include Absolut, Ballantine's, Beefeater, Chivas Regal, Kahlúa, Malibu, Martell, and Brancott Estate. The company was founded in 1805 and is headquartered in Paris, France.
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