Diageo (NYSE:DEO) Price Target Cut to $109.00 by Analysts at Bank of America

Diageo (NYSE:DEO) had its target price decreased by Bank of America from $117.00 to $109.00 in a research report report published on Friday,Benzinga reports. Bank of America currently has a buy rating on the stock.

Separately, The Goldman Sachs Group upgraded shares of Diageo from a “sell” rating to a “neutral” rating in a research note on Thursday, August 7th. Four research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $119.00.

Diageo Trading Up 0.5%

NYSE DEO opened at $94.10 on Friday. Diageo has a 52 week low of $93.42 and a 52 week high of $142.73. The firm has a 50 day moving average of $105.80 and a two-hundred day moving average of $106.86. The company has a quick ratio of 0.64, a current ratio of 1.63 and a debt-to-equity ratio of 1.64. The stock has a market capitalization of $52.35 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 3.33 and a beta of 0.59.

Diageo Increases Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Thursday, December 4th. Shareholders of record on Friday, October 17th will be paid a $2.5192 dividend. This is a boost from Diageo’s previous semi-annual dividend of $1.62. This represents a yield of 370.0%. The ex-dividend date is Friday, October 17th. Diageo’s payout ratio is currently 46.42%.

Institutional Trading of Diageo

Several institutional investors and hedge funds have recently made changes to their positions in DEO. Brighton Jones LLC acquired a new position in Diageo during the fourth quarter worth approximately $202,000. Centaurus Financial Inc. raised its position in Diageo by 32.7% in the 4th quarter. Centaurus Financial Inc. now owns 5,594 shares of the company’s stock valued at $711,000 after purchasing an additional 1,378 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Diageo by 0.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 118,925 shares of the company’s stock worth $15,119,000 after purchasing an additional 559 shares during the period. Marcum Wealth LLC purchased a new position in Diageo during the 1st quarter worth $249,000. Finally, Versant Capital Management Inc increased its stake in Diageo by 1,354.4% in the first quarter. Versant Capital Management Inc now owns 2,618 shares of the company’s stock valued at $274,000 after purchasing an additional 2,438 shares during the period. 8.97% of the stock is owned by hedge funds and other institutional investors.

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.