Diageo (LON:DGE) Stock Price Passes Above 200 Day Moving Average – Here’s Why

Diageo plc (LON:DGE) passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 2,607.57 ($34.05) and traded as high as GBX 2,657 ($34.70). Diageo shares last traded at GBX 2,645.50 ($34.55), with a volume of 6,082,160 shares trading hands.

Wall Street Analyst Weigh In

DGE has been the subject of a number of recent research reports. Citigroup reissued a “buy” rating and set a GBX 3,000 ($39.17) price objective on shares of Diageo in a report on Monday, July 29th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a GBX 3,200 ($41.79) price target on shares of Diageo in a report on Thursday, August 22nd. Finally, Royal Bank of Canada upgraded Diageo to a “sector perform” rating and raised their price objective for the company from GBX 2,100 ($27.42) to GBX 2,400 ($31.34) in a research note on Monday, August 12th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of GBX 3,008 ($39.28).

Diageo Stock Down 0.1 %

The stock has a fifty day moving average of GBX 2,510.97 and a 200 day moving average of GBX 2,607.57. The company has a debt-to-equity ratio of 186.26, a current ratio of 1.53 and a quick ratio of 0.62. The firm has a market capitalization of £58.69 billion, a P/E ratio of 2,004.17, a price-to-earnings-growth ratio of 1.75 and a beta of 0.36.

Diageo Increases Dividend

The firm also recently announced a dividend, which was paid on Thursday, October 17th. Stockholders of record on Thursday, August 29th were paid a dividend of $0.63 per share. This represents a dividend yield of 1.92%. This is a boost from Diageo’s previous dividend of $0.41. The ex-dividend date was Thursday, August 29th. Diageo’s payout ratio is presently 5,984.85%.

Insider Activity at Diageo

In related news, insider Javier Ferrán purchased 324 shares of the firm’s stock in a transaction dated Thursday, October 10th. The stock was bought at an average price of GBX 2,531 ($33.05) per share, for a total transaction of £8,200.44 ($10,708.33). Over the last 90 days, insiders purchased 669 shares of company stock worth $1,663,218. 0.11% of the stock is owned by company insiders.

Diageo Company Profile

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