Diageo (NYSE:DEO) Shares Gap Up - What's Next?

Diageo plc (NYSE:DEO - Get Free Report)'s stock price gapped up before the market opened on Thursday . The stock had previously closed at $106.48, but opened at $109.04. Diageo shares last traded at $106.81, with a volume of 443,477 shares trading hands.

Analyst Upgrades and Downgrades

DEO has been the topic of several recent analyst reports. 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. Berenberg Bank began coverage on Diageo in a research note on Wednesday, April 2nd. They issued a "buy" rating on the stock. Deutsche Bank Aktiengesellschaft raised shares of Diageo from a "sell" rating to a "hold" rating in a research note on Monday, March 3rd. Finally, UBS Group raised shares of Diageo from a "sell" rating to a "buy" rating in a research note on Wednesday, December 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $129.00.

Diageo Price Performance

The firm has a fifty day moving average of $109.65 and a two-hundred day moving average of $120.65. The stock has a market capitalization of $57.17 billion, a P/E ratio of 15.00, a P/E/G ratio of 2.39 and a beta of 0.63. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.60 and a quick ratio of 0.67.

Diageo Announces Dividend

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

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Hedge Funds Weigh In On Diageo

Several institutional investors have recently bought and sold shares of DEO. CoreFirst Bank & Trust bought a new stake in Diageo during the 4th quarter valued at $25,000. Orion Capital Management LLC purchased a new position in Diageo in the fourth quarter valued at about $25,000. Eastern Bank raised its holdings in Diageo by 107.8% in the fourth quarter. Eastern Bank now owns 241 shares of the company's stock worth $31,000 after purchasing an additional 125 shares in the last quarter. BNP Paribas purchased a new stake in shares of Diageo during the fourth quarter valued at about $32,000. Finally, Measured Risk Portfolios Inc. bought a new stake in shares of Diageo in the 4th quarter valued at about $32,000. 8.97% of the stock is owned by hedge funds and other institutional investors.

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.