Diageo (NYSE:DEO) Sees Unusually-High Trading Volume – Here’s Why

Shares of Diageo plc (NYSE:DEO) saw unusually-high trading volume on Monday. Approximately 909,068 shares traded hands during trading, a decline of 38% from the previous session’s volume of 1,462,393 shares. The stock last traded at $88.3030 and had previously closed at $86.73.

Analyst Ratings Changes

Several analysts have issued reports on DEO shares. TD Cowen reissued a “buy” rating on shares of Diageo in a research note on Monday, August 10th. UBS Group reaffirmed a “neutral” rating on shares of Diageo in a research note on Thursday, August 27th. Zacks Research raised shares of Diageo from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 5th. Loop Capital set a $99.00 target price on Diageo in a research report on Thursday, June 18th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Diageo in a research note on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, five have given a Buy rating, four have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $105.33.

Diageo Trading Up 1.9%

The company has a quick ratio of 0.62, a current ratio of 1.60 and a debt-to-equity ratio of 1.53. The firm’s fifty day moving average price is $89.54 and its 200 day moving average price is $84.24.

Diageo Announces Dividend

The company also recently declared a dividend, which will be paid on Thursday, December 3rd. Investors of record on Friday, October 16th will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Friday, October 16th. This represents a yield of 252.0%.

Hedge Funds Weigh In On Diageo

A number of hedge funds have recently bought and sold shares of the business. Altshuler Shaham Ltd bought a new stake in shares of Diageo in the 1st quarter valued at about $37,225,000. Dimensional Fund Advisors LP raised its stake in Diageo by 53.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,372,808 shares of the company’s stock valued at $102,124,000 after acquiring an additional 477,999 shares during the period. BROOKFIELD Corp ON bought a new position in Diageo during the first quarter worth $22,274,000. Bank of America Corp DE increased its holdings in shares of Diageo by 3.7% in the first quarter. Bank of America Corp DE now owns 2,913,707 shares of the company’s stock valued at $216,925,000 after purchasing an additional 103,531 shares during the last quarter. Finally, Gabelli Funds LLC lifted its stake in shares of Diageo by 15.7% during the 1st quarter. Gabelli Funds LLC now owns 659,821 shares of the company’s stock worth $49,124,000 after buying an additional 89,771 shares during the last quarter. Hedge funds and other institutional investors own 8.97% of the company’s stock.

About Diageo

Diageo plc is a global beverage alcohol company headquartered in London, England. The company produces, markets and distributes a broad portfolio of spirits, beer and ready-to-drink beverages through a collection of internationally recognized brands.

Its portfolio includes Johnnie Walker, Crown Royal, Buchanan’s and Talisker whiskies; Smirnoff, Cîroc and Ketel One vodkas; Tanqueray and Gordon’s gins; Baileys liqueur; Don Julio and Casamigos tequila; Captain Morgan rum; and Guinness beer.