Diageo plc (NYSE:DEO) Given Average Recommendation of “Reduce” by Brokerages

Diageo plc (NYSE:DEO) has received a consensus rating of “Reduce” from the eight research firms that are covering the company, MarketBeat reports. Three equities research analysts have rated the stock with a sell recommendation, three have assigned a hold recommendation and two have given a buy recommendation to the company.

Several equities analysts have commented on DEO shares. Royal Bank of Canada raised shares of Diageo from an “underperform” rating to a “sector perform” rating in a research note on Monday, August 12th. Bank of America raised shares of Diageo from a “neutral” rating to a “buy” rating in a research note on Thursday, September 12th. Citigroup raised shares of Diageo from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 3rd. Finally, The Goldman Sachs Group cut shares of Diageo from a “neutral” rating to a “sell” rating in a research note on Friday, July 12th.

Diageo Trading Down 0.4 %

DEO stock opened at $132.92 on Monday. The company has a quick ratio of 0.55, a current ratio of 1.53 and a debt-to-equity ratio of 1.62. Diageo has a fifty-two week low of $119.48 and a fifty-two week high of $161.64. The firm’s 50-day simple moving average is $129.17 and its 200 day simple moving average is $135.59.

Diageo Dividend Announcement

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

Hedge Funds Weigh In On Diageo

Several large investors have recently made changes to their positions in the business. Fragasso Group Inc. increased its position in shares of Diageo by 2.5% in the first quarter. Fragasso Group Inc. now owns 2,947 shares of the company’s stock worth $438,000 after acquiring an additional 73 shares in the last quarter. Avestar Capital LLC increased its position in shares of Diageo by 4.4% in the fourth quarter. Avestar Capital LLC now owns 1,754 shares of the company’s stock worth $255,000 after acquiring an additional 74 shares in the last quarter. J.W. Cole Advisors Inc. increased its position in shares of Diageo by 3.8% in the first quarter. J.W. Cole Advisors Inc. now owns 2,158 shares of the company’s stock worth $321,000 after acquiring an additional 78 shares in the last quarter. Financial Counselors Inc. increased its position in shares of Diageo by 3.3% in the second quarter. Financial Counselors Inc. now owns 2,587 shares of the company’s stock worth $326,000 after acquiring an additional 83 shares in the last quarter. Finally, PFG Investments LLC increased its position in shares of Diageo by 3.4% in the second quarter. PFG Investments LLC now owns 2,516 shares of the company’s stock worth $317,000 after acquiring an additional 83 shares in the last quarter. Institutional investors own 8.97% of the company’s stock.

About Diageo

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.