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

Shares of Diageo plc (NYSE:DEO) gapped up before the market opened 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 changing hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on DEO shares. Argus cut shares of Diageo from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. BNP Paribas lowered shares of Diageo from a “neutral” rating to an “underperform” rating in a research note on Friday, January 12th. Three research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $3,797.50.

Diageo Price Performance

The company has a debt-to-equity ratio of 1.73, a current ratio of 1.58 and a quick ratio of 0.65. The stock’s fifty day simple moving average is $147.01 and its two-hundred day simple moving average is $146.52.

Diageo Cuts Dividend

The business also recently disclosed a semi-annual dividend, which was paid on Wednesday, April 17th. Shareholders of record on Friday, March 1st were issued a dividend of $1.62 per share. The ex-dividend date was Thursday, February 29th. This represents a yield of 2.7%.

Hedge Funds Weigh In On Diageo

A number of large investors have recently made changes to their positions in DEO. Morgan Stanley increased its holdings in Diageo by 13.2% in the fourth quarter. Morgan Stanley now owns 3,725,502 shares of the company’s stock worth $663,848,000 after buying an additional 433,105 shares during the last quarter. Clearbridge Investments LLC increased its holdings in Diageo by 0.4% in the third quarter. Clearbridge Investments LLC now owns 2,384,109 shares of the company’s stock worth $355,661,000 after buying an additional 10,269 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Diageo by 6.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,161,648 shares of the company’s stock worth $301,886,000 after buying an additional 137,397 shares during the last quarter. Moneta Group Investment Advisors LLC increased its holdings in Diageo by 98,968.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 2,023,969 shares of the company’s stock worth $360,651,000 after buying an additional 2,021,926 shares during the last quarter. Finally, Markel Group Inc. increased its holdings in Diageo by 0.3% in the fourth quarter. Markel Group Inc. now owns 1,354,708 shares of the company’s stock worth $197,327,000 after buying an additional 4,500 shares during the last quarter. Institutional investors and hedge funds 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. 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.