Diageo (LON:DGE) Share Price Passes Above 200-Day Moving Average – Here’s What Happened

Shares of Diageo plc (LON:DGE) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of GBX 1,565.12 and traded as high as GBX 1,730. Diageo shares last traded at GBX 1,719, with a volume of 4,806,401 shares trading hands.

Wall Street Analyst Weigh In

DGE has been the topic of a number of recent research reports. Royal Bank Of Canada restated an “outperform” rating and issued a GBX 2,000 target price on shares of Diageo in a report on Wednesday, May 27th. UBS Group reissued a “neutral” rating and issued a GBX 1,600 price objective on shares of Diageo in a research report on Tuesday, May 5th. Jefferies Financial Group upped their price objective on shares of Diageo from GBX 2,000 to GBX 2,200 and gave the company a “buy” rating in a research note on Monday, August 10th. Berenberg Bank restated a “buy” rating and set a GBX 2,223 target price on shares of Diageo in a research report on Friday, August 7th. Finally, Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a GBX 1,700 target price on shares of Diageo in a research report on Friday, August 7th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of GBX 2,029.

Diageo Trading Down 0.3%

The business has a 50 day simple moving average of GBX 1,601.08 and a 200-day simple moving average of GBX 1,565.12. The company has a current ratio of 1.60, a quick ratio of 0.62 and a debt-to-equity ratio of 197.88. The stock has a market capitalization of £38.22 billion, a price-to-earnings ratio of 15.89, a price-to-earnings-growth ratio of 1.75 and a beta of 0.31.

Insider Buying and Selling at Diageo

In related news, insider John Alexander Manzoni bought 441 shares of the firm’s stock in a transaction that occurred on Wednesday, June 10th. The shares were acquired at an average cost of GBX 1,488 per share, with a total value of £6,562.08. In the last 90 days, insiders have bought 1,267 shares of company stock worth $1,999,464. Corporate insiders own 0.17% of the company’s stock.

About Diageo

Diageo is a global leader in premium drinks, across spirits and beer, a business built on the principles and foundations laid by the giants of the industry.

With over 200 brands sold in 180 countries, our portfolio has remarkable breadth. From centuries-old names to exciting new entrants, and global giants to local legends, we’re building the very best brands out there, and with over 30,000 talented people based in over 135 countries, we’re a truly global company. With such diversity, we’re able to truly represent our broad consumer base and think differently about the future.

To maintain our position as leaders in the alcoholic beverage market, we always invest in the future and are mindful of the impact we have.