Diageo (NYSE:DEO) Raised to “Sector Perform” at Royal Bank of Canada

Royal Bank of Canada upgraded shares of Diageo (NYSE:DEO) from an underperform rating to a sector perform rating in a research report sent to investors on Monday morning, MarketBeat reports.

Other analysts have also issued reports about the company. Citigroup raised Diageo from a neutral rating to a buy rating in a research report on Wednesday, July 3rd. The Goldman Sachs Group cut shares of Diageo from a neutral rating to a sell rating in a report on Friday, July 12th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Hold and an average price target of $2,950.00.

Diageo Stock Up 0.2 %

Shares of Diageo stock opened at $128.16 on Monday. The company has a fifty day moving average price of $128.73 and a 200 day moving average price of $138.68. The company has a current ratio of 1.58, a quick ratio of 0.65 and a debt-to-equity ratio of 1.73. Diageo has a twelve month low of $119.48 and a twelve month high of $172.32. The stock has a market cap of $71.24 billion, a price-to-earnings ratio of 18.26, a price-to-earnings-growth ratio of 3.55 and a beta of 0.67.

Diageo Dividend Announcement

The business also recently declared a semi-annual dividend, which will be paid on Thursday, October 17th. Stockholders of record on Friday, August 30th will be paid a $1.62 dividend. This represents a dividend yield of 3.2%. The ex-dividend date is Friday, August 30th. Diageo’s dividend payout ratio is currently 71.37%.

Institutional Trading of Diageo

Several institutional investors have recently modified their holdings of the company. Clearbridge Investments LLC lifted its holdings in shares of Diageo by 7.0% during the first quarter. Clearbridge Investments LLC now owns 2,351,654 shares of the company’s stock valued at $349,785,000 after purchasing an additional 154,497 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Diageo by 6.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,161,648 shares of the company’s stock valued at $301,886,000 after buying an additional 137,397 shares during the last quarter. Markel Group Inc. boosted its holdings in Diageo by 0.5% in the second quarter. Markel Group Inc. now owns 1,366,708 shares of the company’s stock worth $172,315,000 after purchasing an additional 6,300 shares in the last quarter. Envestnet Asset Management Inc. increased its holdings in shares of Diageo by 7.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,127,576 shares of the company’s stock valued at $142,165,000 after acquiring an additional 74,745 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in shares of Diageo by 2.2% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,106,473 shares of the company’s stock valued at $139,504,000 after purchasing an additional 23,435 shares during the period. Institutional investors and hedge funds own 8.97% of the company’s stock.

About Diageo

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.