Berenberg Bank Reiterates "Buy" Rating for Diageo (LON:DGE)

Key Points

• Berenberg Bank has reaffirmed a "buy" rating on Diageo and set a target price of GBX 2,372, indicating a potential upside of 21.45% from the stock's previous close.
• Diageo currently has an average rating of "Moderate Buy" with an average target price of GBX 2,458.67 ($32.69), as assessed by multiple analysts.
• Insider activity shows that insider John Alexander Manzoni purchased shares recently, contributing to a total of 981 shares bought by insiders over the past 90 days.

Berenberg Bank reaffirmed their buy rating on shares of Diageo (LON:DGE - Free Report) in a research report sent to investors on Tuesday, MarketBeat Ratings reports. Berenberg Bank currently has a GBX 2,372 ($31.90) target price on the stock.

Other equities research analysts have also issued reports about the company. Jefferies Financial Group reaffirmed a "buy" rating and issued a GBX 2,500 ($33.62) target price on shares of Diageo in a research report on Tuesday. Citigroup reaffirmed a "buy" rating on shares of Diageo in a research report on Monday, August 4th. Deutsche Bank Aktiengesellschaft increased their price target on Diageo from GBX 1,960 ($26.36) to GBX 2,010 ($27.03) and gave the stock a "hold" rating in a research note on Tuesday, July 8th. Finally, Royal Bank Of Canada reissued a "sector perform" rating and issued a GBX 2,400 ($32.28) price target on shares of Diageo in a research note on Wednesday, July 16th. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Diageo has a consensus rating of "Moderate Buy" and a consensus target price of GBX 2,393.14 ($32.19).

Diageo Stock Performance

LON DGE traded down GBX 5 ($0.07) during trading hours on Tuesday, hitting GBX 2,021 ($27.18). The company had a trading volume of 3,041,995 shares, compared to its average volume of 4,388,322. Diageo has a fifty-two week low of GBX 1,797 ($24.17) and a fifty-two week high of GBX 2,677 ($36.01). The company has a quick ratio of 0.62, a current ratio of 1.94 and a debt-to-equity ratio of 234.57. The business has a fifty day simple moving average of GBX 1,918.79 and a 200-day simple moving average of GBX 2,062.15. The firm has a market cap of £44.86 billion, a P/E ratio of 11.32, a price-to-earnings-growth ratio of 1.75 and a beta of 0.36.

Insider Activity

In other news, insider John Alexander Manzoni bought 335 shares of the firm's stock in a transaction that occurred on Wednesday, July 9th. The stock was acquired at an average price of GBX 1,955 ($26.29) per share, with a total value of £6,549.25 ($8,808.68). Insiders acquired a total of 981 shares of company stock valued at $1,999,510 over the last ninety days. Corporate insiders own 0.11% of the company's stock.

About Diageo

Diageo is a global leader in premium drinks, across spirits and beer, a business built on the principles and foundations laid by the giants of the industry. With over 200 brands sold in 180 countries, our portfolio has remarkable breadth. From centuries-old names to exciting new entrants, and global giants to local legends, we're building the very best brands out there, and with over 30,000 talented people based in over 135 countries, we're a truly global company.