Short Interest in Diageo plc (NYSE:DEO) Decreases By 25.3%

Diageo plc (NYSE:DEO) was the recipient of a significant decline in short interest in September. As of September 15th, there was short interest totaling 1,330,000 shares, a decline of 25.3% from the August 31st total of 1,780,000 shares. Based on an average daily trading volume, of 1,280,000 shares, the days-to-cover ratio is presently 1.0 days. Approximately 0.2% of the shares of the stock are short sold. Approximately 0.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,280,000 shares, the days-to-cover ratio is presently 1.0 days.

Wall Street Analyst Weigh In

DEO has been the topic of a number of analyst reports. Bank of America decreased their price target on Diageo from $117.00 to $109.00 and set a “buy” rating on the stock in a research note on Friday, September 26th. Weiss Ratings restated a “sell (d)” rating on shares of Diageo in a research note on Wednesday. Finally, The Goldman Sachs Group raised Diageo from a “sell” rating to a “neutral” rating in a report on Thursday, August 7th. Four investment analysts have rated the stock with a Buy rating, three have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $119.00.

Diageo Stock Performance

NYSE DEO opened at $95.75 on Thursday. Diageo has a fifty-two week low of $93.42 and a fifty-two week high of $139.96. The stock has a market cap of $53.27 billion, a price-to-earnings ratio of 13.98, a price-to-earnings-growth ratio of 3.44 and a beta of 0.58. The business has a fifty day moving average of $104.35 and a 200-day moving average of $106.19. The company has a quick ratio of 0.64, a current ratio of 1.63 and a debt-to-equity ratio of 1.64.

Diageo Increases Dividend

The business also recently declared a semi-annual dividend, which will be paid on Thursday, December 4th. Stockholders of record on Friday, October 17th will be issued a $2.5192 dividend. This represents a dividend yield of 370.0%. This is a positive change from Diageo’s previous semi-annual dividend of $1.62. The ex-dividend date of this dividend is Friday, October 17th. Diageo’s payout ratio is presently 46.42%.

Hedge Funds Weigh In On Diageo

A number of institutional investors have recently made changes to their positions in the stock. Venturi Wealth Management LLC lifted its position in shares of Diageo by 3.6% in the 1st quarter. Venturi Wealth Management LLC now owns 2,582 shares of the company’s stock worth $271,000 after purchasing an additional 89 shares during the period. SageView Advisory Group LLC lifted its position in shares of Diageo by 1.7% in the 1st quarter. SageView Advisory Group LLC now owns 5,450 shares of the company’s stock worth $571,000 after purchasing an additional 89 shares during the period. Dorsey & Whitney Trust CO LLC lifted its position in shares of Diageo by 3.0% in the 2nd quarter. Dorsey & Whitney Trust CO LLC now owns 3,287 shares of the company’s stock worth $331,000 after purchasing an additional 96 shares during the period. Grove Bank & Trust lifted its position in shares of Diageo by 1.3% in the 1st quarter. Grove Bank & Trust now owns 7,560 shares of the company’s stock worth $792,000 after purchasing an additional 98 shares during the period. Finally, Pinnacle West Asset Management Inc. lifted its position in shares of Diageo by 3.2% in the 1st quarter. Pinnacle West Asset Management Inc. now owns 3,240 shares of the company’s stock worth $340,000 after purchasing an additional 100 shares during the period. 8.97% of the stock is owned by institutional investors and hedge funds.

Diageo Company Profile

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.