Diageo plc (NYSE:DEO) Receives Consensus Rating of “Hold” from Analysts

Shares of Diageo plc (NYSE:DEO) have received a consensus recommendation of “Hold” from the nine research firms that are currently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a sell recommendation, three have given a hold recommendation and four have issued a buy recommendation on the company. The average 12-month price target among brokers that have covered the stock in the last year is $119.00.

Several brokerages have issued reports on DEO. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Diageo in a report on Wednesday, October 8th. Bank of America dropped their price objective on Diageo from $117.00 to $109.00 and set a “buy” rating on the stock in a report on Friday, September 26th. Finally, The Goldman Sachs Group upgraded shares of Diageo from a “sell” rating to a “neutral” rating in a research note on Thursday, August 7th.

Diageo Stock Performance

Shares of DEO stock opened at $97.99 on Tuesday. The stock’s 50-day moving average is $103.12 and its two-hundred day moving average is $105.68. The firm has a market cap of $54.54 billion, a price-to-earnings ratio of 14.31, a PEG ratio of 3.55 and a beta of 0.58. Diageo has a 1 year low of $93.42 and a 1 year high of $138.52. The company has a debt-to-equity ratio of 1.64, a quick ratio of 0.64 and a current ratio of 1.63.

Diageo Increases Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, December 4th. Stockholders of record on Friday, October 17th will be paid a dividend of $2.5192 per share. This represents a dividend yield of 516.0%. This is a positive change from Diageo’s previous semi-annual dividend of $1.62. The ex-dividend date is Friday, October 17th. Diageo’s payout ratio is currently 72.41%.

Institutional Investors Weigh In On Diageo

Several hedge funds have recently made changes to their positions in the business. The Manufacturers Life Insurance Company boosted its stake in shares of Diageo by 72,871.7% during the second quarter. The Manufacturers Life Insurance Company now owns 1,568,162 shares of the company’s stock worth $158,133,000 after buying an additional 1,566,013 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of Diageo by 3.1% during the first quarter. Envestnet Asset Management Inc. now owns 1,441,300 shares of the company’s stock worth $151,034,000 after buying an additional 42,740 shares during the period. Confluence Investment Management LLC boosted its stake in shares of Diageo by 0.9% during the third quarter. Confluence Investment Management LLC now owns 1,363,504 shares of the company’s stock worth $130,119,000 after buying an additional 12,678 shares during the period. Orbis Allan Gray Ltd boosted its stake in shares of Diageo by 236.6% during the second quarter. Orbis Allan Gray Ltd now owns 1,157,991 shares of the company’s stock worth $116,772,000 after buying an additional 813,973 shares during the period. Finally, Raymond James Financial Inc. lifted its position in Diageo by 7.2% in the second quarter. Raymond James Financial Inc. now owns 1,146,369 shares of the company’s stock valued at $115,600,000 after purchasing an additional 76,802 shares during the period. Institutional investors and hedge funds own 8.97% of the company’s stock.

Diageo Company Profile

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. The company offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavored malt beverages. It also provides Chinese, Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as flavored malt beverages, ready to drink, and non-alcoholic products.