Diageo plc (NYSE:DEO) Given Average Recommendation of “Hold” by Analysts

Diageo plc (NYSE:DEO) has been assigned an average recommendation of “Hold” from the thirteen brokerages that are covering the firm, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have assigned a buy rating to the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $116.50.

Several research analysts have recently commented on the company. HSBC lowered Diageo from a “buy” rating to a “hold” rating in a research report on Monday, March 2nd. Weiss Ratings reiterated a “sell (d)” rating on shares of Diageo in a research note on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating on shares of Diageo in a report on Friday, November 28th. Royal Bank Of Canada raised shares of Diageo from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, January 6th. Finally, UBS Group restated a “neutral” rating on shares of Diageo in a report on Wednesday, December 3rd.

Hedge Funds Weigh In On Diageo

A number of large investors have recently made changes to their positions in DEO. Bank of Montreal Can grew its stake 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 buying an additional 1,762,027 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in Diageo by 72,871.7% in the second quarter. The Manufacturers Life Insurance Company now owns 1,568,162 shares of the company’s stock valued at $158,133,000 after buying an additional 1,566,013 shares during the last quarter. Equity Investment Corp purchased a new stake in Diageo in the third quarter valued at about $92,970,000. Orbis Allan Gray Ltd boosted its holdings in Diageo by 236.6% in the second quarter. Orbis Allan Gray Ltd now owns 1,157,991 shares of the company’s stock worth $116,772,000 after acquiring an additional 813,973 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Diageo by 353.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 717,740 shares of the company’s stock worth $72,377,000 after acquiring an additional 559,547 shares in the last quarter. 8.97% of the stock is owned by institutional investors and hedge funds.

Diageo Stock Performance

Diageo stock opened at $74.68 on Friday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.71 and a current ratio of 1.60. The business has a fifty day moving average of $89.63 and a two-hundred day moving average of $92.44. Diageo has a twelve month low of $74.46 and a twelve month high of $116.69.

Diageo Announces Dividend

The company also recently announced a dividend, which will be paid on Thursday, June 4th. Shareholders of record on Friday, April 17th will be paid a $0.80 dividend. This represents a yield of 207.0%. The ex-dividend date 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.