Diageo plc (NYSE:DEO) Stock Has Average Target Price of $99.75

Shares of Diageo plc (NYSE:DEO) have been given a consensus recommendation of “Hold” by the eighteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Two analysts have rated the stock with a sell rating, eight have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $99.75.

A number of research firms have issued reports on DEO. Zacks Research upgraded Diageo from a “hold” rating to a “strong-buy” rating in a report on Monday, October 5th. Jefferies Financial Group restated a “buy” rating on shares of Diageo in a report on Tuesday, October 13th. Berenberg Bank reaffirmed a “buy” rating on shares of Diageo in a research report on Sunday, August 9th. Morgan Stanley boosted their price objective on shares of Diageo from $76.00 to $83.00 and gave the stock an “underweight” rating in a research note on Monday. Finally, The Goldman Sachs Group restated a “neutral” rating on shares of Diageo in a report on Monday, August 10th.

Hedge Funds Weigh In On Diageo

A number of hedge funds have recently bought and sold shares of DEO. Financial Network Wealth Advisors LLC increased its holdings in Diageo by 28.1% in the third quarter. Financial Network Wealth Advisors LLC now owns 598 shares of the company’s stock valued at $51,000 after buying an additional 131 shares in the last quarter. Sterling Capital Management LLC boosted its position in shares of Diageo by 1.3% in the 3rd quarter. Sterling Capital Management LLC now owns 11,307 shares of the company’s stock worth $968,000 after buying an additional 145 shares in the last quarter. Envestnet Portfolio Solutions Inc. boosted its position in shares of Diageo by 2.8% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 5,513 shares of the company’s stock worth $443,000 after buying an additional 152 shares in the last quarter. Lafayette Investments Inc. grew its stake in Diageo by 0.4% in the 1st quarter. Lafayette Investments Inc. now owns 36,681 shares of the company’s stock valued at $2,731,000 after acquiring an additional 154 shares during the last quarter. Finally, Cohen Investment Advisors LLC grew its stake in Diageo by 4.1% in the 1st quarter. Cohen Investment Advisors LLC now owns 4,276 shares of the company’s stock valued at $318,000 after acquiring an additional 169 shares during the last quarter. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Diageo Price Performance

DEO opened at $93.42 on Friday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.60 and a quick ratio of 0.62. The stock’s 50 day moving average price is $89.64 and its 200-day moving average price is $85.89. Diageo has a 52-week low of $72.45 and a 52-week high of $102.74.

Diageo Announces Dividend

The company also recently declared a dividend, which will be paid on Thursday, December 3rd. Stockholders of record on Friday, October 16th will be issued a dividend of $1.20 per share. The ex-dividend date is Friday, October 16th. This represents a dividend yield of 252.0%.

About Diageo

Diageo plc is a global beverage-alcohol company headquartered in London, England. It develops, produces, markets and distributes spirits, beer and ready-to-drink beverages through a portfolio of well-known international and regional brands.

Its brands include Johnnie Walker, Crown Royal and Bulleit whiskies; Smirnoff, Cîroc and Ketel One vodkas; Captain Morgan rum; Don Julio and Casamigos tequila; Tanqueray gin; Baileys liqueur; and Guinness stout. The company sells products through retail, hospitality and e-commerce channels, serving consumers in markets across North America, Europe, Asia-Pacific, Latin America, Africa and other regions.

Diageo was formed in 1997 through the merger of Grand Metropolitan and Guinness.