Brokerages Set Diageo plc (NYSE:DEO) Price Target at $129.00

Shares of Diageo plc (NYSE:DEO) have earned an average recommendation of “Hold” from the eight brokerages that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $129.00.

Several equities research analysts have commented on the company. Jefferies Financial Group upgraded Diageo from a “hold” rating to a “buy” rating in a research note on Thursday, December 5th. Deutsche Bank Aktiengesellschaft upgraded Diageo from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. UBS Group raised Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. Finally, TD Cowen raised their price target on Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th.

Hedge Funds Weigh In On Diageo

A number of institutional investors have recently made changes to their positions in the business. Canoe Financial LP grew its stake in shares of Diageo by 88,407.3% in the 4th quarter. Canoe Financial LP now owns 8,113,468 shares of the company’s stock valued at $1,031,465,000 after purchasing an additional 8,104,301 shares during the period. FMR LLC grew its stake in shares of Diageo by 10.9% during the fourth quarter. FMR LLC now owns 5,813,938 shares of the company’s stock worth $739,126,000 after purchasing an additional 571,873 shares during the period. Kovitz Investment Group Partners LLC grew its position in shares of Diageo by 234.4% during the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,600,702 shares of the company’s stock worth $330,627,000 after buying an additional 1,822,994 shares during the period. Royal Bank of Canada grew its position in shares of Diageo by 0.3% during the 4th quarter. Royal Bank of Canada now owns 1,540,800 shares of the company’s stock worth $195,883,000 after buying an additional 3,876 shares during the period. Finally, Bank of Montreal Can grew its position in shares of Diageo by 1,181.5% in the 4th quarter. Bank of Montreal Can now owns 1,406,004 shares of the company’s stock valued at $178,745,000 after purchasing an additional 1,296,285 shares during the period. 8.97% of the stock is currently owned by institutional investors.

Diageo Stock Performance

NYSE DEO opened at $107.55 on Monday. Diageo has a fifty-two week low of $105.72 and a fifty-two week high of $149.44. The stock has a market cap of $59.83 billion, a price-to-earnings ratio of 15.70, a price-to-earnings-growth ratio of 2.39 and a beta of 0.65. The business has a fifty day moving average of $114.26 and a 200-day moving average of $123.45. The company has a quick ratio of 0.67, a current ratio of 1.60 and a debt-to-equity ratio of 1.62.

Diageo Announces Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, April 24th. Shareholders of record on Friday, February 28th will be given a $1.62 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a dividend yield of 3.8%. Diageo’s dividend payout ratio is currently 46.42%.

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.