Diageo plc (NYSE:DEO) Receives Consensus Rating of “Reduce” from Brokerages

Diageo plc (NYSE:DEO) has been assigned an average recommendation of “Reduce” from the eight brokerages that are currently covering the company, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the company.

A number of equities research analysts have weighed in on the stock. Citigroup raised shares of Diageo from a “neutral” rating to a “buy” rating in a report on Wednesday, July 3rd. Royal Bank of Canada raised shares of Diageo from an “underperform” rating to a “sector perform” rating in a report on Monday, August 12th. The Goldman Sachs Group downgraded shares of Diageo from a “neutral” rating to a “sell” rating in a report on Friday, July 12th. Finally, Bank of America raised shares of Diageo from a “neutral” rating to a “buy” rating in a research note on Thursday.

Institutional Trading of Diageo

A number of hedge funds have recently bought and sold shares of DEO. Russell Investments Group Ltd. increased its holdings in shares of Diageo by 20.2% in the 4th quarter. Russell Investments Group Ltd. now owns 796 shares of the company’s stock valued at $116,000 after purchasing an additional 134 shares during the period. 9258 Wealth Management LLC increased its holdings in Diageo by 7.2% in the fourth quarter. 9258 Wealth Management LLC now owns 3,632 shares of the company’s stock worth $529,000 after buying an additional 245 shares during the last quarter. Dimensional Fund Advisors LP increased its holdings in Diageo by 1.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 856,908 shares of the company’s stock worth $124,817,000 after buying an additional 14,789 shares during the last quarter. Meridian Wealth Management LLC acquired a new position in Diageo in the fourth quarter worth approximately $256,000. Finally, Coldstream Capital Management Inc. acquired a new position in Diageo in the fourth quarter worth approximately $528,000. 8.97% of the stock is owned by hedge funds and other institutional investors.

Diageo Price Performance

Shares of NYSE DEO opened at $132.11 on Monday. Diageo has a twelve month low of $119.48 and a twelve month high of $161.64. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.53 and a quick ratio of 0.55. The firm has a 50-day moving average of $128.86 and a two-hundred day moving average of $135.86.

Diageo Announces Dividend

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, October 17th. Shareholders of record on Friday, August 30th will be paid a dividend of $1.62 per share. This represents a yield of 3.2%. The ex-dividend date of this dividend is Friday, August 30th.

Diageo Company Profile

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. The company offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavored malt beverages. It also provides Chinese, Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as flavored malt beverages, ready to drink, and non-alcoholic products.