Diageo (NYSE:DEO) Earns Market Perform Rating from Analysts at TD Cowen

TD Cowen started coverage on shares of Diageo (NYSE:DEO) in a research report released on Friday morning, Briefing.com reports. The brokerage issued a market perform rating on the stock.

A number of other brokerages also recently weighed in on DEO. Morgan Stanley downgraded shares of Diageo from an equal weight rating to an underweight rating in a research report on Thursday, July 20th. The Goldman Sachs Group cut shares of Diageo from a buy rating to a neutral rating in a research report on Wednesday, June 14th. Barclays reduced their target price on shares of Diageo from GBX 4,720 ($58.47) to GBX 4,440 ($55.00) in a report on Wednesday, August 2nd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Diageo from GBX 2,920 ($36.17) to GBX 2,950 ($36.54) in a report on Friday, September 8th. Finally, Credit Suisse Group reduced their price objective on shares of Diageo from GBX 3,850 ($47.69) to GBX 3,800 ($47.07) in a report on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $3,898.33.

Diageo Stock Down 0.7 %

Shares of DEO opened at $157.84 on Friday. The company’s fifty day moving average price is $169.74 and its 200-day moving average price is $174.62. Diageo has a 1-year low of $157.30 and a 1-year high of $191.93. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.63 and a quick ratio of 0.62.

Diageo Increases Dividend

The firm also recently disclosed a semi-annual dividend, which will be paid on Tuesday, October 17th. Shareholders of record on Friday, August 25th will be given a dividend of $2.5089 per share. This is an increase from Diageo’s previous semi-annual dividend of $1.43. This represents a yield of 2.4%. The ex-dividend date of this dividend is Thursday, August 24th.

Institutional Trading of Diageo

Several hedge funds and other institutional investors have recently made changes to their positions in DEO. Moneta Group Investment Advisors LLC lifted its stake in shares of Diageo by 98,968.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,023,969 shares of the company’s stock valued at $360,651,000 after purchasing an additional 2,021,926 shares during the period. Clearbridge Investments LLC raised its position in shares of Diageo by 56.9% in the first quarter. Clearbridge Investments LLC now owns 2,384,684 shares of the company’s stock valued at $432,057,000 after buying an additional 864,824 shares during the last quarter. Imprint Wealth LLC raised its position in shares of Diageo by 16,757.2% in the second quarter. Imprint Wealth LLC now owns 500,490 shares of the company’s stock valued at $50,049,000 after buying an additional 497,521 shares during the last quarter. Westfield Capital Management Co. LP acquired a new position in shares of Diageo in the first quarter valued at approximately $89,331,000. Finally, Kovitz Investment Group Partners LLC acquired a new position in shares of Diageo in the second quarter valued at approximately $77,625,000. Hedge funds and other institutional investors own 8.97% of the company’s stock.

Diageo Company Profile

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.