Royal Bank of Canada upgraded shares of Diageo (NYSE:DEO – Free Report) from an underperform rating to a sector perform rating in a report issued on Monday morning, MarketBeat.com reports.
A number of other equities research analysts also recently weighed in 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 downgraded shares of Diageo from a neutral rating to a sell rating in a research note on Friday, July 12th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of Hold and an average target price of $2,950.00.
Diageo Stock Up 1.7 %
Diageo Announces Dividend
The company also recently announced a semi-annual dividend, which will be paid on Thursday, October 17th. Stockholders of record on Friday, August 30th will be paid a $1.62 dividend. The ex-dividend date of this dividend is Friday, August 30th. This represents a dividend yield of 3.2%. Diageo’s dividend payout ratio is presently 71.37%.
Institutional Investors Weigh In On Diageo
Several institutional investors and hedge funds have recently made changes to their positions in the company. Scarborough Advisors LLC acquired a new position in Diageo during the 4th quarter worth about $25,000. Triad Wealth Partners LLC bought a new stake in Diageo during the 2nd quarter worth about $25,000. 1620 Investment Advisors Inc. bought a new stake in Diageo during the 2nd quarter worth about $25,000. Concord Wealth Partners bought a new stake in Diageo during the 1st quarter worth about $29,000. Finally, Beacon Capital Management LLC raised its holdings in Diageo by 777.3% during the 1st quarter. Beacon Capital Management LLC now owns 193 shares of the company’s stock worth $29,000 after purchasing an additional 171 shares during the last quarter. Institutional investors and hedge funds own 8.97% of the company’s stock.
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.
Featured Articles
- Five stocks we like better than Diageo
- How to Calculate Options Profits
- Michael Burry’s Alibaba Bet and the Broader Market Implications
- What is an Earnings Surprise?
- Jeff Brown’s Exegesis AI Stock Picks
- Procter & Gamble (NYSE:PG) Pulls Back After Shaky Guidance
- Warren Buffett’s Bet: Why Berkshire Hathaway Bought Ulta Stock
Receive News & Ratings for Diageo Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Diageo and related companies with MarketBeat.com's FREE daily email newsletter.