Diageo plc (NYSE:DEO) Sees Significant Increase in Short Interest

Diageo plc (NYSE:DEO) was the recipient of a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 1,270,000 shares, a growth of 38.4% from the August 15th total of 917,500 shares. Based on an average daily trading volume, of 841,300 shares, the short-interest ratio is presently 1.5 days. Approximately 0.2% of the company’s stock are short sold.

Institutional Investors Weigh In On Diageo

A number of institutional investors and hedge funds have recently bought and sold shares of DEO. Scarborough Advisors LLC purchased a new position in shares of Diageo during the fourth quarter worth about $25,000. Triad Wealth Partners LLC purchased a new position in Diageo during the 2nd quarter worth approximately $25,000. 1620 Investment Advisors Inc. acquired a new position in Diageo during the second quarter worth approximately $25,000. Concord Wealth Partners purchased a new stake in Diageo in the first quarter valued at approximately $29,000. Finally, Beacon Capital Management LLC boosted its holdings in shares of Diageo by 777.3% in the first quarter. Beacon Capital Management LLC now owns 193 shares of the company’s stock valued at $29,000 after acquiring an additional 171 shares during the period. 8.97% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on DEO. Citigroup upgraded shares of Diageo from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 3rd. The Goldman Sachs Group lowered shares of Diageo from a “neutral” rating to a “sell” rating in a report on Friday, July 12th. Royal Bank of Canada upgraded shares of Diageo from an “underperform” rating to a “sector perform” rating in a research note on Monday, August 12th. Finally, Bank of America upgraded Diageo from a “neutral” rating to a “buy” rating in a research note on Thursday. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold”.

Diageo Stock Up 0.0 %

DEO stock traded up $0.01 during midday trading on Monday, reaching $132.12. 188,602 shares of the company were exchanged, compared to its average volume of 780,455. The company has a quick ratio of 0.55, a current ratio of 1.53 and a debt-to-equity ratio of 1.62. Diageo has a 1-year low of $119.48 and a 1-year high of $161.64. The stock’s 50-day simple moving average is $128.86 and its 200 day simple moving average is $135.86.

Diageo Announces Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, October 17th. Investors of record on Friday, August 30th will be given a $1.62 dividend. This represents a dividend yield of 3.2%. The ex-dividend date of this dividend is Friday, August 30th.

About Diageo

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.