Diageo (NYSE:DEO) Coverage Initiated at Berenberg Bank

Berenberg Bank assumed coverage on shares of Diageo (NYSE:DEO - Free Report) in a research note published on Wednesday, MarketBeat reports. The firm issued a buy rating on the stock.

A number of other research firms have also recently commented on DEO. Jefferies Financial Group upgraded Diageo from a "hold" rating to a "buy" rating in a report on Thursday, December 5th. TD Cowen increased their price target on Diageo from $124.00 to $129.00 and gave the stock a "hold" rating in a report on Wednesday, January 8th. UBS Group raised Diageo from a "sell" rating to a "buy" rating in a research report on Wednesday, December 11th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Diageo from a "sell" rating to a "hold" rating in a research report on Monday, March 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $129.00.

Diageo Price Performance

Shares of Diageo stock traded down $2.80 during trading hours on Wednesday, reaching $101.17. 1,075,554 shares of the company's stock were exchanged, compared to its average volume of 912,400. The business has a fifty day moving average of $110.12 and a two-hundred day moving average of $120.89. The company has a quick ratio of 0.67, a current ratio of 1.60 and a debt-to-equity ratio of 1.62. The company has a market capitalization of $56.28 billion, a P/E ratio of 14.77, a price-to-earnings-growth ratio of 2.39 and a beta of 0.63. Diageo has a 1 year low of $98.84 and a 1 year high of $144.28.

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Diageo Dividend Announcement

The firm also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 24th. Investors of record on Friday, February 28th will be issued a $1.62 dividend. This represents a dividend yield of 3.8%. The ex-dividend date of this dividend is Friday, February 28th. Diageo's dividend payout ratio (DPR) is currently 46.42%.

Hedge Funds Weigh In On Diageo

Several institutional investors have recently modified their holdings of the business. Alliance Wealth Advisors LLC UT increased its holdings in Diageo by 2.6% during the 4th quarter. Alliance Wealth Advisors LLC UT now owns 3,383 shares of the company's stock worth $430,000 after purchasing an additional 86 shares during the period. Savant Capital LLC increased its stake in shares of Diageo by 5.0% during the fourth quarter. Savant Capital LLC now owns 1,864 shares of the company's stock worth $237,000 after buying an additional 88 shares during the period. GeoWealth Management LLC raised its holdings in Diageo by 1.3% in the fourth quarter. GeoWealth Management LLC now owns 6,944 shares of the company's stock valued at $883,000 after acquiring an additional 92 shares in the last quarter. Aptus Capital Advisors LLC raised its holdings in Diageo by 5.4% in the fourth quarter. Aptus Capital Advisors LLC now owns 1,867 shares of the company's stock valued at $237,000 after acquiring an additional 95 shares in the last quarter. Finally, Diversified Trust Co lifted its stake in Diageo by 5.6% in the fourth quarter. Diversified Trust Co now owns 1,855 shares of the company's stock worth $236,000 after acquiring an additional 98 shares during the last quarter. Institutional investors and hedge funds 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.