Diageo (NYSE:DEO) Earns Buy Rating from Analysts at Berenberg Bank

Berenberg Bank initiated coverage on shares of Diageo (NYSE:DEO) in a research report released on Wednesday morning, MarketBeat Ratings reports. The brokerage issued a buy rating on the stock.

Other research analysts also recently issued reports about the company. Jefferies Financial Group upgraded Diageo from a “hold” rating to a “buy” rating in a research note on Thursday, December 5th. TD Cowen increased their price objective on shares of Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a research note on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft upgraded shares of Diageo from a “sell” rating to a “hold” rating in a research note on Monday, March 3rd. Finally, UBS Group raised Diageo from a “sell” rating to a “buy” rating in a report on Wednesday, December 11th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $129.00.

Diageo Price Performance

NYSE DEO opened at $106.64 on Wednesday. The business’s fifty day moving average is $110.75 and its 200 day moving average is $121.35. Diageo has a fifty-two week low of $103.70 and a fifty-two week high of $148.38. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.67 and a current ratio of 1.60. The company has a market capitalization of $59.32 billion, a PE ratio of 15.57, a price-to-earnings-growth ratio of 2.39 and a beta of 0.65.

Diageo Dividend Announcement

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Marcum Wealth LLC purchased a new position in Diageo during the 1st quarter valued at approximately $249,000. Confluence Investment Management LLC grew its holdings in shares of Diageo by 0.7% in the first quarter. Confluence Investment Management LLC now owns 1,184,987 shares of the company’s stock valued at $124,175,000 after purchasing an additional 8,521 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in Diageo by 0.5% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 118,925 shares of the company’s stock worth $15,119,000 after purchasing an additional 559 shares during the last quarter. NorthCrest Asset Manangement LLC raised its stake in Diageo by 0.9% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 61,053 shares of the company’s stock valued at $7,762,000 after purchasing an additional 544 shares in the last quarter. Finally, Centaurus Financial Inc. lifted its position in Diageo by 32.7% during the fourth quarter. Centaurus Financial Inc. now owns 5,594 shares of the company’s stock valued at $711,000 after purchasing an additional 1,378 shares during the last quarter. Institutional investors 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.