Diageo (NYSE:DEO) Shares Gap Up to $136.03

Diageo plc (NYSE:DEO - Get Free Report) gapped up prior to trading on Wednesday . The stock had previously closed at $136.03, but opened at $140.46. Diageo shares last traded at $140.04, with a volume of 822,572 shares traded.

Analyst Ratings Changes

Several equities analysts have issued reports on the stock. Argus cut shares of Diageo from a "buy" rating to a "hold" rating in a research note on Thursday, January 4th. BNP Paribas cut shares of Diageo from a "neutral" rating to an "underperform" rating in a report on Friday, January 12th. Three investment analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $3,778.00.

Diageo Stock Performance

The company's 50 day moving average price is $147.32 and its two-hundred day moving average price is $146.61. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.65 and a current ratio of 1.58.

Diageo Cuts Dividend

The business also recently declared a semi-annual dividend, which will be paid on Wednesday, April 17th. Shareholders of record on Friday, March 1st will be given a $1.62 dividend. This represents a yield of 2.7%. The ex-dividend date is Thursday, February 29th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Pinnacle Holdings LLC purchased a new stake in shares of Diageo in the first quarter worth $33,000. Scarborough Advisors LLC purchased a new stake in Diageo in the 4th quarter worth $25,000. Compagnie Lombard Odier SCmA bought a new stake in Diageo during the third quarter valued at about $27,000. PCA Investment Advisory Services Inc. purchased a new position in shares of Diageo in the second quarter valued at about $31,000. Finally, Planned Solutions Inc. bought a new position in shares of Diageo in the fourth quarter worth about $27,000. 8.97% of the stock is currently owned by institutional investors.

About Diageo

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. It offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavoured malt beverages. The company also provides Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as ready to drink and non-alcoholic products.