Diageo plc (NYSE:DEO) Short Interest Update

Diageo plc (NYSE:DEO) was the recipient of a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 638,200 shares, a decline of 15.9% from the February 28th total of 759,300 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 1,080,000 shares, the days-to-cover ratio is currently 0.6 days.

Diageo Stock Performance

Shares of NYSE:DEO traded up $1.56 during trading on Thursday, hitting $108.04. 2,142,401 shares of the stock traded hands, compared to its average volume of 895,880. The company has a quick ratio of 0.67, a current ratio of 1.60 and a debt-to-equity ratio of 1.62. The company has a fifty day moving average price of $110.75 and a two-hundred day moving average price of $121.35. Diageo has a 52-week low of $103.70 and a 52-week high of $148.38. The company has a market cap of $60.10 billion, a price-to-earnings ratio of 15.78, a P/E/G ratio of 2.39 and a beta of 0.65.

Diageo Dividend Announcement

The company also recently disclosed a semi-annual dividend, which will be paid on Thursday, April 24th. Shareholders of record on Friday, February 28th will be given a $1.62 dividend. The ex-dividend date of this dividend is Friday, February 28th. This represents a dividend yield of 3.8%. Diageo’s dividend payout ratio (DPR) is currently 46.42%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on DEO shares. UBS Group upgraded shares of Diageo from a “sell” rating to a “buy” rating in a research note on Wednesday, December 11th. Berenberg Bank started coverage on Diageo in a research note on Wednesday. They set a “buy” rating on the stock. Deutsche Bank Aktiengesellschaft upgraded Diageo from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. Jefferies Financial Group upgraded shares of Diageo from a “hold” rating to a “buy” rating in a report on Thursday, December 5th. Finally, TD Cowen lifted their price objective 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 equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $129.00.

Institutional Investors Weigh In On Diageo

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