Diageo plc (NYSE:DEO) Given Average Recommendation of “Reduce” by Brokerages

Diageo plc (NYSE:DEO) has received a consensus recommendation of “Reduce” from the eight analysts that are currently covering the company, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating on the company.

Several research analysts have recently weighed in on DEO shares. The Goldman Sachs Group downgraded shares of Diageo from a “neutral” rating to a “sell” rating in a research note on Friday, July 12th. Royal Bank of Canada upgraded shares of Diageo from an “underperform” rating to a “sector perform” rating in a research note on Monday, August 12th. Citigroup upgraded shares of Diageo from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 3rd. Finally, Bank of America upgraded shares of Diageo from a “neutral” rating to a “buy” rating in a research note on Thursday, September 12th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Clearbridge Investments LLC increased its holdings in shares of Diageo by 7.0% in the 1st quarter. Clearbridge Investments LLC now owns 2,351,654 shares of the company’s stock worth $349,785,000 after acquiring an additional 154,497 shares during the period. Markel Group Inc. increased its holdings in shares of Diageo by 0.5% in the 2nd quarter. Markel Group Inc. now owns 1,366,708 shares of the company’s stock worth $172,315,000 after acquiring an additional 6,300 shares during the period. Envestnet Asset Management Inc. increased its holdings in shares of Diageo by 7.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,127,576 shares of the company’s stock worth $142,165,000 after acquiring an additional 74,745 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in shares of Diageo by 2.2% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 1,106,473 shares of the company’s stock worth $139,504,000 after acquiring an additional 23,435 shares during the period. Finally, Confluence Investment Management LLC increased its holdings in shares of Diageo by 10.5% in the 2nd quarter. Confluence Investment Management LLC now owns 931,740 shares of the company’s stock worth $117,474,000 after acquiring an additional 88,159 shares during the period. 8.97% of the stock is currently owned by institutional investors.

Diageo Stock Performance

Diageo stock opened at $132.92 on Monday. Diageo has a 52-week low of $119.48 and a 52-week high of $161.64. The firm has a fifty day moving average of $129.17 and a 200-day moving average of $135.59. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.53 and a quick ratio of 0.55.

Diageo Dividend Announcement

The firm also recently declared a semi-annual dividend, which will be paid on Thursday, October 17th. Stockholders of record on Friday, August 30th will be given a $1.62 dividend. The ex-dividend date is Friday, August 30th. This represents a dividend yield of 3.2%.

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.