Diageo plc (NYSE:DEO) Sees Large Growth in Short Interest

Diageo plc (NYSE:DEO) was the target of a significant increase in short interest during the month of September. As of September 30th, there was short interest totalling 930,000 shares, an increase of 16.4% from the September 15th total of 799,100 shares. Based on an average daily volume of 846,700 shares, the days-to-cover ratio is currently 1.1 days. Currently, 0.2% of the shares of the stock are sold short.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Clearbridge Investments LLC raised its holdings in 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 purchasing an additional 154,497 shares in the last quarter. Markel Group Inc. lifted 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 buying an additional 6,300 shares during the period. Envestnet Asset Management Inc. boosted its position in 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 in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Diageo by 2.2% during 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 raised its position 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 in the last quarter. Institutional investors own 8.97% of the company’s stock.

Diageo Stock Up 0.9 %

Shares of NYSE DEO traded up $1.24 during mid-day trading on Wednesday, hitting $135.77. The stock had a trading volume of 580,391 shares, compared to its average volume of 765,128. The business has a 50 day moving average price of $132.70 and a two-hundred day moving average price of $133.96. The company has a quick ratio of 0.55, a current ratio of 1.53 and a debt-to-equity ratio of 1.62. Diageo has a 1 year low of $119.48 and a 1 year high of $161.64.

Diageo Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on DEO. The Goldman Sachs Group lowered shares of Diageo from a “neutral” rating to a “sell” rating in a research report on Friday, July 12th. Citigroup raised Diageo from a “neutral” rating to a “buy” rating in a report on Wednesday, July 3rd. Royal Bank of Canada raised Diageo from an “underperform” rating to a “sector perform” rating in a research note on Monday, August 12th. Finally, Bank of America upgraded shares of Diageo from a “neutral” rating to a “buy” rating in a report on Thursday, September 12th. Three equities research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold”.

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.