Diageo plc (NYSE:DEO) Receives Consensus Rating of “Reduce” from Brokerages

Diageo plc (NYSE:DEO) has been assigned a consensus recommendation of “Reduce” from the eight brokerages that are currently covering the firm, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company.

DEO has been the topic of a number of research analyst reports. Royal Bank of Canada raised Diageo from an “underperform” rating to a “sector perform” rating in a report on Monday, August 12th. Citigroup upgraded shares of Diageo from a “neutral” rating to a “buy” rating in a research report on Wednesday, July 3rd. The Goldman Sachs Group cut shares of Diageo from a “neutral” rating to a “sell” rating in a research note on Friday, July 12th. Finally, Bank of America upgraded Diageo from a “neutral” rating to a “buy” rating in a research report on Thursday, September 12th.

Institutional Trading of Diageo

Several hedge funds have recently made changes to their positions in DEO. Russell Investments Group Ltd. increased its stake in Diageo by 20.2% during the fourth quarter. Russell Investments Group Ltd. now owns 796 shares of the company’s stock worth $116,000 after acquiring an additional 134 shares during the last quarter. 9258 Wealth Management LLC increased its position in shares of Diageo by 7.2% during the 4th quarter. 9258 Wealth Management LLC now owns 3,632 shares of the company’s stock valued at $529,000 after purchasing an additional 245 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in Diageo by 1.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 856,908 shares of the company’s stock valued at $124,817,000 after buying an additional 14,789 shares during the period. Meridian Wealth Management LLC bought a new stake in Diageo in the fourth quarter worth $256,000. Finally, Coldstream Capital Management Inc. purchased a new position in Diageo during the fourth quarter worth $528,000. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Diageo Stock Performance

DEO opened at $133.03 on Monday. The company has a 50 day simple moving average of $129.28 and a two-hundred day simple moving average of $135.29. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.53 and a quick ratio of 0.55. The firm has a market cap of $73.95 billion, a P/E ratio of 19.28, a PEG ratio of 3.84 and a beta of 0.69. Diageo has a 1-year low of $119.48 and a 1-year high of $161.64.

Diageo Dividend Announcement

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, October 17th. Shareholders of record on Friday, August 30th will be given a dividend of $1.62 per share. The ex-dividend date is Friday, August 30th. This represents a yield of 3.2%. Diageo’s dividend payout ratio (DPR) is currently 72.61%.

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.