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

Shares of Diageo plc (NYSE:DEO) gapped down prior to trading on Tuesday . The stock had previously closed at $110.60, but opened at $108.17. Diageo shares last traded at $107.84, with a volume of 112,934 shares traded.

Wall Street Analyst Weigh In

DEO has been the topic of a number of research reports. Deutsche Bank Aktiengesellschaft upgraded Diageo from a “sell” rating to a “hold” rating in a research report on Monday, March 3rd. TD Cowen increased their price objective on shares of Diageo from $124.00 to $129.00 and gave the company a “hold” rating in a research note on Wednesday, January 8th. Finally, Berenberg Bank began coverage on shares of Diageo in a report on Wednesday, April 2nd. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, Diageo presently has an average rating of “Hold” and a consensus price target of $129.00.

Diageo Stock Down 2.3 %

The firm has a 50 day moving average price of $107.95 and a 200-day moving average price of $119.29. The company has a debt-to-equity ratio of 1.62, a current ratio of 1.60 and a quick ratio of 0.67. The firm has a market cap of $60.14 billion, a price-to-earnings ratio of 15.78, a price-to-earnings-growth ratio of 2.39 and a beta of 0.63.

Diageo Dividend Announcement

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

Hedge Funds Weigh In On Diageo

Several large investors have recently bought and sold shares of the business. Canoe Financial LP lifted its stake in Diageo by 88,407.3% in the fourth quarter. Canoe Financial LP now owns 8,113,468 shares of the company’s stock valued at $1,031,465,000 after buying an additional 8,104,301 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Diageo by 11.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 37,718 shares of the company’s stock valued at $4,795,000 after acquiring an additional 3,964 shares during the period. Maia Wealth LLC boosted its stake in Diageo by 24.7% during the 4th quarter. Maia Wealth LLC now owns 13,112 shares of the company’s stock worth $1,648,000 after acquiring an additional 2,593 shares during the last quarter. Aviso Financial Inc. grew its holdings in Diageo by 3.4% during the fourth quarter. Aviso Financial Inc. now owns 242,637 shares of the company’s stock valued at $30,846,000 after purchasing an additional 7,954 shares during the period. Finally, Tevis Investment Management increased its stake in Diageo by 159.7% in the fourth quarter. Tevis Investment Management now owns 13,869 shares of the company’s stock valued at $1,763,000 after purchasing an additional 8,528 shares in the last quarter. 8.97% of the stock is currently owned by institutional investors and hedge funds.

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.