Diageo plc (NYSE:DEO) Short Interest Down 42.3% in March

Diageo plc (NYSE:DEO - Get Free Report) was the target of a large drop in short interest in March. As of March 31st, there was short interest totalling 368,300 shares, a drop of 42.3% from the March 15th total of 638,200 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily volume of 1,200,000 shares, the days-to-cover ratio is currently 0.3 days.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Deutsche Bank Aktiengesellschaft upgraded Diageo from a "sell" rating to a "hold" rating in a report on Monday, March 3rd. Berenberg Bank assumed coverage on shares of Diageo in a research report on Wednesday, April 2nd. They issued a "buy" rating on the stock. Finally, TD Cowen boosted their price target on shares of Diageo from $124.00 to $129.00 and gave the company a "hold" rating in a research note on Wednesday, January 8th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $129.00.

Diageo Stock Performance

Shares of NYSE:DEO traded up $1.19 on Friday, hitting $109.39. The company's stock had a trading volume of 1,291,703 shares, compared to its average volume of 925,834. Diageo has a 12 month low of $100.72 and a 12 month high of $144.27. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.67 and a current ratio of 1.60. The company has a market capitalization of $60.85 billion, a price-to-earnings ratio of 15.97, a price-to-earnings-growth ratio of 2.39 and a beta of 0.63. The stock's 50-day moving average is $107.87 and its two-hundred day moving average is $118.71.

Diageo Dividend Announcement

The company 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 dividend of $1.62 per share. 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%.

Institutional Trading of Diageo

Hedge funds have recently made changes to their positions in the stock. Morse Asset Management Inc acquired a new stake in shares of Diageo in the third quarter worth about $95,000. Anchor Investment Management LLC boosted its position in Diageo by 71.7% during the third quarter. Anchor Investment Management LLC now owns 1,533 shares of the company's stock worth $215,000 after purchasing an additional 640 shares during the period. World Investment Advisors LLC acquired a new position in Diageo during the third quarter valued at approximately $5,510,000. Wilmington Savings Fund Society FSB raised its holdings in Diageo by 550.1% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 10,532 shares of the company's stock worth $1,478,000 after acquiring an additional 8,912 shares during the period. Finally, Optimist Retirement Group LLC grew its position in shares of Diageo by 23.7% in the third quarter. Optimist Retirement Group LLC now owns 16,681 shares of the company's stock valued at $2,341,000 after purchasing an additional 3,193 shares during the last quarter. 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.