Diageo plc (NYSE:DEO) Short Interest Up 38.4% in August

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

Diageo Price Performance

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

Diageo Dividend Announcement

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, October 17th. Stockholders 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 dividend yield of 3.2%.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in DEO. Clearbridge Investments LLC lifted its holdings in Diageo by 7.0% during the 1st quarter. Clearbridge Investments LLC now owns 2,351,654 shares of the company’s stock worth $349,785,000 after buying an additional 154,497 shares in the last quarter. Markel Group Inc. increased its position in shares of Diageo by 0.5% during the second quarter. Markel Group Inc. now owns 1,366,708 shares of the company’s stock worth $172,315,000 after acquiring an additional 6,300 shares during the period. Envestnet Asset Management Inc. raised its stake in shares of Diageo by 7.1% in the second quarter. Envestnet Asset Management Inc. now owns 1,127,576 shares of the company’s stock valued at $142,165,000 after acquiring an additional 74,745 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Diageo by 2.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,106,473 shares of the company’s stock valued at $139,504,000 after purchasing an additional 23,435 shares during the period. Finally, Confluence Investment Management LLC grew its stake in Diageo by 10.5% during the 2nd quarter. Confluence Investment Management LLC now owns 931,740 shares of the company’s stock worth $117,474,000 after purchasing an additional 88,159 shares in the last quarter. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Diageo Company Profile

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.