Diageo plc’s (LON:DGE) “Overweight” Rating Reiterated at Morgan Stanley
Morgan Stanley reissued their overweight rating on shares of Diageo plc (LON:DGE) in a research report sent to investors on Wednesday morning, MarketBeat reports. The firm currently has a GBX 2,700 ($35.16) price target on the stock.
Several other equities analysts have also issued reports on the stock. Citigroup Inc. set a GBX 2,500 ($32.56) price target on shares of Diageo plc and gave the company a neutral rating in a report on Thursday, August 3rd. Goldman Sachs Group, Inc. (The) set a GBX 2,400 ($31.25) price target on shares of Diageo plc and gave the company a neutral rating in a report on Wednesday, August 2nd. J P Morgan Chase & Co boosted their price target on shares of Diageo plc from GBX 2,500 ($32.56) to GBX 2,800 ($36.46) and gave the company an overweight rating in a report on Monday, July 31st. Berenberg Bank reissued a buy rating and issued a GBX 2,550 ($33.21) price target on shares of Diageo plc in a report on Friday, July 28th. Finally, Credit Suisse Group boosted their price target on shares of Diageo plc from GBX 2,550 ($33.21) to GBX 2,700 ($35.16) and gave the company an outperform rating in a report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and fifteen have assigned a buy rating to the company. The company has an average rating of Buy and a consensus price target of GBX 2,521.05 ($32.83).
Shares of Diageo plc (LON DGE) opened at 2474.00 on Wednesday. The stock’s market cap is GBX 62.18 billion. The stock has a 50 day moving average price of GBX 2,346.28 and a 200-day moving average price of GBX 2,299.09. Diageo plc has a 12-month low of GBX 1,946.00 and a 12-month high of GBX 2,545.50.
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The business also recently declared a dividend, which will be paid on Thursday, October 5th. Shareholders of record on Thursday, August 10th will be issued a GBX 38.50 ($0.50) dividend. This represents a yield of 1.6%. This is a boost from Diageo plc’s previous dividend of $23.70. The ex-dividend date of this dividend is Thursday, August 10th.
In related news, insider Alan Stewart purchased 4,076 shares of Diageo plc stock in a transaction on Friday, July 28th. The stock was acquired at an average cost of GBX 2,465 ($32.10) per share, for a total transaction of £100,473.40 ($130,841.78). Also, insider Kathryn Mikells sold 20,664 shares of the firm’s stock in a transaction on Monday, May 15th. The stock was sold at an average price of GBX 2,291 ($29.83), for a total transaction of £473,412.24 ($616,502.46). Insiders acquired 4,100 shares of company stock valued at $10,103,875 over the last 90 days.
Diageo plc Company Profile
Diageo PLC is an alcoholic beverage company. The Company operates in various categories, including spirits and beer. Its geographic segments include North America; Europe, Russia and Turkey; Africa; Latin America and Caribbean, and Asia Pacific. Its principal products includes Scotch whisky, Gin, Vodka, Rum, Beer, Irish Cream Liqueur, Wine, Raki, Tequila, Canadian Whisky, American Whiskey, Progressive Adult Beverages, Cachaca, Brandy and Ready to Drink.
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