Diageo (NYSE:DEO) Shares Gap Up – Here’s What Happened

Diageo plc (NYSE:DEO) shares gapped up before the market opened on Wednesday . The stock had previously closed at $108.31, but opened at $113.81. Diageo shares last traded at $114.04, with a volume of 222,158 shares trading hands.

Analyst Ratings Changes

Several brokerages have recently issued reports on DEO. Jefferies Financial Group upgraded Diageo from a “hold” rating to a “buy” rating in a research report on Thursday, December 5th. Deutsche Bank Aktiengesellschaft upgraded Diageo from a “sell” rating to a “hold” rating in a research report on Monday. UBS Group upgraded shares of Diageo from a “sell” rating to a “buy” rating in a research note on Wednesday, December 11th. Finally, TD Cowen upped their price objective on shares of Diageo from $124.00 to $129.00 and gave the stock a “hold” rating in a report on Wednesday, January 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $129.00.

Diageo Price Performance

The business has a 50-day simple moving average of $116.69 and a two-hundred day simple moving average of $124.66. 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 stock has a market capitalization of $62.86 billion, a price-to-earnings ratio of 16.51, a P/E/G ratio of 2.39 and a beta of 0.66.

Diageo Announces Dividend

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

Institutional Investors Weigh In On Diageo

Several hedge funds and other institutional investors have recently bought and sold shares of DEO. Brooklyn Investment Group acquired a new position in shares of Diageo in the 3rd quarter worth approximately $25,000. CoreFirst Bank & Trust bought a new stake in Diageo during the fourth quarter worth approximately $25,000. Orion Capital Management LLC acquired a new position in Diageo in the fourth quarter worth approximately $25,000. Eastern Bank increased its holdings in shares of Diageo by 107.8% in the fourth quarter. Eastern Bank now owns 241 shares of the company’s stock valued at $31,000 after buying an additional 125 shares in the last quarter. Finally, BNP Paribas acquired a new stake in shares of Diageo during the 4th quarter valued at $32,000. 8.97% of the stock is currently owned by 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.