Diageo (LON:DGE) Shares Down 8.7%

Diageo plc (LON:DGE)’s share price fell 8.7% during trading on Tuesday . The company traded as low as GBX 2,323 ($29.88) and last traded at GBX 2,325.39 ($29.91). 118,351,664 shares changed hands during mid-day trading, an increase of 2,655% from the average session volume of 4,295,377 shares. The stock had previously closed at GBX 2,547.50 ($32.77).

Analysts Set New Price Targets

A number of analysts have recently issued reports on DGE shares. Barclays increased their target price on Diageo from GBX 3,550 ($45.67) to GBX 3,640 ($46.82) and gave the company an “overweight” rating in a report on Wednesday, May 1st. Royal Bank of Canada decreased their price objective on Diageo from GBX 2,500 ($32.16) to GBX 2,100 ($27.01) and set an “underperform” rating for the company in a research report on Wednesday. Deutsche Bank Aktiengesellschaft reiterated a “sell” rating on shares of Diageo in a report on Tuesday, April 30th. Citigroup restated a “buy” rating and set a GBX 3,000 ($38.59) price target on shares of Diageo in a report on Monday. Finally, Jefferies Financial Group reiterated a “hold” rating and issued a GBX 2,800 ($36.02) target price on shares of Diageo in a research report on Wednesday, June 12th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of GBX 2,948 ($37.92).

Diageo Trading Down 0.7 %

The company has a debt-to-equity ratio of 190.59, a quick ratio of 0.62 and a current ratio of 1.58. The business’s 50 day moving average price is GBX 2,558.95 and its 200-day moving average price is GBX 2,751.02. The company has a market cap of £53.35 billion, a price-to-earnings ratio of 1,679.86, a PEG ratio of 1.58 and a beta of 0.33.

Diageo Increases Dividend

The firm also recently declared a dividend, which will be paid on Thursday, October 17th. Shareholders of record on Thursday, August 29th will be paid a dividend of $0.63 per share. This is a boost from Diageo’s previous dividend of $0.41. The ex-dividend date is Thursday, August 29th. This represents a yield of 1.92%. Diageo’s dividend payout ratio (DPR) is currently 5,625.00%.

Insider Transactions at Diageo

In other news, insider Javier Ferrán bought 314 shares of the stock in a transaction dated Monday, June 10th. The shares were acquired at an average price of GBX 2,640 ($33.96) per share, with a total value of £8,289.60 ($10,663.24). In the last ninety days, insiders purchased 612 shares of company stock valued at $1,671,964. Corporate insiders own 0.13% of the company’s stock.

Diageo Company Profile

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