Diageo (LON:DGE) Stock Price Crosses Above 200 Day Moving Average - Here's Why

Diageo plc (LON:DGE - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred 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 traded.

Wall Street Analysts Forecast Growth

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

Diageo Trading Up 0.2 %

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 stock's 50 day moving average is GBX 2,516.64 and its 200-day moving average is GBX 2,605.64. The company has a market capitalization of £58.86 billion, a P/E ratio of 2,008.71, a P/E/G ratio of 1.75 and a beta of 0.36.

Diageo Increases Dividend

The firm also recently declared a dividend, which was paid on Thursday, October 17th. Investors of record on Thursday, August 29th were paid a $0.63 dividend. This represents a dividend yield of 1.92%. This is a positive change from Diageo's previous dividend of $0.41. The ex-dividend date was Thursday, August 29th. Diageo's dividend payout ratio (DPR) is presently 5,984.85%.

Insiders Place Their Bets

In related news, insider Javier Ferrán acquired 324 shares of Diageo stock in a transaction that occurred on Thursday, October 10th. The stock was bought at an average price of GBX 2,531 ($33.05) per share, with a total value of £8,200.44 ($10,708.33). Over the last quarter, insiders have acquired 669 shares of company stock worth $1,663,218. 0.11% of the stock is currently owned by company insiders.

About Diageo

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.