Zacks Investment Research upgraded shares of PERNOD RICARD S/ADR (OTCMKTS:PDRDY) from a sell rating to a hold rating in a research note issued to investors 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 raised PERNOD RICARD S/ADR from an underperform rating to a sector perform rating in a research note on Monday, October 22nd. Four research analysts have rated the stock with a hold rating and one has given a buy rating to the stock. The stock has a consensus rating of Hold and a consensus target price of $37.00.
Shares of OTCMKTS:PDRDY opened at $31.21 on Wednesday. PERNOD RICARD S/ADR has a 52-week low of $29.38 and a 52-week high of $34.95.
The firm also recently declared a Semi-Annual dividend, which will be paid on Monday, December 17th. Stockholders of record on Tuesday, November 27th will be paid a $0.217 dividend. The ex-dividend date is Monday, November 26th. This is a positive change from PERNOD RICARD S/ADR’s previous Semi-Annual dividend of $0.16. PERNOD RICARD S/ADR’s dividend payout ratio is 24.26%.
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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