Brokerages Set Diageo plc (NYSE:DEO) PT at $116.50

Shares of Diageo plc (NYSE:DEO) have been assigned a consensus rating of “Hold” from the thirteen research firms that are currently covering the firm, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $116.50.

Several equities research analysts have issued reports on the company. HSBC downgraded Diageo from a “buy” rating to a “hold” rating in a report on Monday, March 2nd. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Diageo in a research report on Friday, November 28th. Argus upgraded shares of Diageo to a “hold” rating in a research note on Tuesday, March 10th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Diageo in a report on Wednesday, January 21st. Finally, Royal Bank Of Canada raised shares of Diageo from a “sector perform” rating to an “outperform” rating in a report on Tuesday, January 6th.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can increased its position in Diageo by 428.7% during the 4th quarter. Bank of Montreal Can now owns 2,173,047 shares of the company’s stock worth $187,469,000 after purchasing an additional 1,762,027 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Diageo by 72,871.7% during the second quarter. The Manufacturers Life Insurance Company now owns 1,568,162 shares of the company’s stock worth $158,133,000 after buying an additional 1,566,013 shares during the last quarter. Equity Investment Corp acquired a new position in shares of Diageo in the 3rd quarter valued at about $92,970,000. Orbis Allan Gray Ltd lifted its stake in Diageo by 236.6% in the second quarter. Orbis Allan Gray Ltd now owns 1,157,991 shares of the company’s stock valued at $116,772,000 after buying an additional 813,973 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its position in shares of Diageo by 353.7% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 717,740 shares of the company’s stock valued at $72,377,000 after acquiring an additional 559,547 shares during the period. 8.97% of the stock is currently owned by institutional investors and hedge funds.

Diageo Trading Down 2.2%

NYSE:DEO opened at $72.47 on Friday. Diageo has a 52-week low of $72.45 and a 52-week high of $116.69. The company has a quick ratio of 0.71, a current ratio of 1.60 and a debt-to-equity ratio of 1.53. The stock’s 50-day simple moving average is $88.66 and its 200 day simple moving average is $91.40.

Diageo Dividend Announcement

The business also recently declared a dividend, which will be paid on Thursday, June 4th. Investors of record on Friday, April 17th will be paid a $0.80 dividend. This represents a yield of 207.0%. The ex-dividend date of this dividend is Friday, April 17th.

About Diageo

Diageo plc is a global producer, marketer and distributor of alcoholic beverages, headquartered in London, England. The company was created through the 1997 merger of Guinness plc and Grand Metropolitan plc and is publicly traded on multiple exchanges, including the New York Stock Exchange (NYSE: DEO) and the London Stock Exchange. Diageo operates a worldwide business, selling products in a broad range of markets across the Americas, Europe, Africa, Asia and Latin America.

Diageo’s core activities cover the production, marketing and sale of a diverse portfolio of spirits, beer and liqueurs.