Diageo plc (DEO) To Go Ex-Dividend on August 24th

Posted by on Aug 10th, 2023

Diageo plc (NYSE:DEO – Get Free Report) declared a semi-annual dividend on Tuesday, August 8th, NASDAQ reports. Shareholders of record on Friday, August 25th will be given a dividend of 2.5089 per share on Tuesday, October 17th. This represents a dividend yield of 2.4%. The ex-dividend date is Thursday, August 24th. This is a boost from Diageo’s previous semi-annual dividend of $1.43.

Diageo has a dividend payout ratio of 35.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Diageo to earn $9.06 per share next year, which means the company should continue to be able to cover its $3.08 annual dividend with an expected future payout ratio of 34.0%.

Diageo Stock Performance

Shares of Diageo stock opened at $171.46 on Thursday. The company has a fifty day moving average of $172.64 and a 200-day moving average of $176.49. Diageo has a 52-week low of $160.09 and a 52-week high of $191.93. The company has a quick ratio of 0.62, a current ratio of 1.63 and a debt-to-equity ratio of 1.67.

Institutional Trading of Diageo

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Sei Investments Co. grew its holdings in shares of Diageo by 6.8% during the first quarter. Sei Investments Co. now owns 47,667 shares of the company’s stock valued at $9,647,000 after buying an additional 3,034 shares during the last quarter. Sequoia Financial Advisors LLC raised its stake in shares of Diageo by 27.8% in the first quarter. Sequoia Financial Advisors LLC now owns 3,749 shares of the company’s stock worth $762,000 after purchasing an additional 816 shares during the last quarter. Merit Financial Group LLC lifted its holdings in shares of Diageo by 19.2% during the first quarter. Merit Financial Group LLC now owns 1,228 shares of the company’s stock valued at $249,000 after purchasing an additional 198 shares in the last quarter. Ergoteles LLC boosted its position in shares of Diageo by 34.3% during the first quarter. Ergoteles LLC now owns 1,366 shares of the company’s stock valued at $277,000 after buying an additional 349 shares during the last quarter. Finally, Prudential Financial Inc. raised its position in Diageo by 33.5% in the 1st quarter. Prudential Financial Inc. now owns 6,788 shares of the company’s stock worth $1,379,000 after buying an additional 1,704 shares during the last quarter. Hedge funds and other institutional investors own 9.72% of the company’s stock.

Analysts Set New Price Targets

DEO has been the topic of a number of recent research reports. JPMorgan Chase & Co. reduced their price objective on Diageo from GBX 4,500 ($57.51) to GBX 4,000 ($51.12) in a research note on Tuesday, June 20th. Jefferies Financial Group downgraded Diageo from a “buy” rating to a “hold” rating in a research report on Friday, May 12th. StockNews.com cut shares of Diageo from a “buy” rating to a “hold” rating in a report on Friday, May 12th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Diageo from GBX 2,650 ($33.87) to GBX 2,920 ($37.32) in a report on Wednesday, August 2nd. Finally, Credit Suisse Group dropped their price objective on Diageo from GBX 3,850 ($49.20) to GBX 3,800 ($48.56) in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Diageo presently has a consensus rating of “Hold” and a consensus target price of $3,893.33.

Read Our Latest Stock Analysis on DEO

Diageo Company Profile

(Get Free Report)

Diageo plc, together with its subsidiaries, produces, markets, and sells alcoholic beverages. The company offers scotch, whisky, gin, vodka, rum, ready to drink products, raki, liqueur, wine, tequila, Canadian whisky, American whiskey, cachaca, and brandy, as well as beer, including cider and non-alcoholic products.

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Dividend History for Diageo (NYSE:DEO)

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