Diageo (NYSE:DEO) Shares Gap Down - What's Next?

Diageo plc (NYSE:DEO - Get Free Report) shares gapped down before the market opened 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 changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. TD Cowen boosted their price objective on 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 raised Diageo from a "sell" rating to a "hold" rating in a research note on Monday, March 3rd. 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 research analyst has rated the stock with a sell rating, three have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Diageo presently has a consensus rating of "Hold" and a consensus price target of $129.00.

Diageo Stock Up 1.1 %

The business has a 50 day simple moving average of $107.87 and a 200-day simple moving average of $118.57. 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 firm has a market capitalization of $60.85 billion, a price-to-earnings ratio of 15.97, a P/E/G ratio of 2.39 and a beta of 0.63.

Diageo Announces Dividend

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

Institutional Trading of Diageo

Several institutional investors have recently made changes to their positions in DEO. Morse Asset Management Inc acquired a new position in shares of Diageo in the 3rd quarter valued at $95,000. Anchor Investment Management LLC raised its stake in shares of Diageo by 71.7% in the 3rd quarter. Anchor Investment Management LLC now owns 1,533 shares of the company's stock valued at $215,000 after acquiring an additional 640 shares during the period. World Investment Advisors LLC acquired a new position in shares of Diageo in the 3rd quarter worth approximately $5,510,000. Wilmington Savings Fund Society FSB boosted its position in shares of Diageo by 550.1% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 10,532 shares of the company's stock worth $1,478,000 after purchasing an additional 8,912 shares during the period. Finally, Optimist Retirement Group LLC raised its position in Diageo by 23.7% in the third quarter. Optimist Retirement Group LLC now owns 16,681 shares of the company's stock valued at $2,341,000 after purchasing an additional 3,193 shares during the period. Hedge funds and other 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.