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

Diageo plc (NYSE:DEO) has been assigned an average rating of “Reduce” from the eight research firms that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company.

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

Hedge Funds Weigh In On Diageo

A number of institutional investors and hedge funds have recently modified their holdings of the company. Heritage Wealth Management Inc. bought a new stake in Diageo during the second quarter valued at approximately $350,000. Sanctuary Advisors LLC purchased a new stake in shares of Diageo in the 2nd quarter worth $10,730,000. Cetera Investment Advisers raised its holdings in Diageo by 5.3% in the 2nd quarter. Cetera Investment Advisers now owns 74,352 shares of the company’s stock worth $9,374,000 after purchasing an additional 3,722 shares during the period. 3Chopt Investment Partners LLC bought a new position in Diageo in the 2nd quarter worth $320,000. Finally, McGinn Penninger Investment Management Inc. lifted its position in Diageo by 0.4% during the second quarter. McGinn Penninger Investment Management Inc. now owns 31,627 shares of the company’s stock valued at $3,988,000 after purchasing an additional 135 shares in the last quarter. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Diageo Trading Down 2.1 %

Diageo stock opened at $133.03 on Monday. Diageo has a 12 month low of $119.48 and a 12 month high of $161.64. The company has a market capitalization of $73.95 billion, a price-to-earnings ratio of 19.28, a price-to-earnings-growth ratio of 3.84 and a beta of 0.69. The business’s fifty day simple moving average is $129.28 and its two-hundred day simple moving average is $135.29. The company has a current ratio of 1.53, a quick ratio of 0.55 and a debt-to-equity ratio of 1.62.

Diageo Announces Dividend

The business also recently announced a semi-annual dividend, which will be paid on Thursday, October 17th. Shareholders of record on Friday, August 30th will be paid a dividend of $1.62 per share. The ex-dividend date of this dividend is Friday, August 30th. This represents a yield of 3.2%. Diageo’s dividend payout ratio is presently 72.61%.

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.