Credit Agricole SA Initiates Coverage on Diageo PLC (DEO)
Research analysts at Credit Agricole SA assumed coverage on shares of Diageo PLC (NYSE:DEO) in a research note issued on Thursday. The brokerage set a “buy” rating and a $130.00 price target on the stock. Credit Agricole SA’s price target would indicate a potential upside of 15.39% from the company’s current price.
A number of other brokerages have also commented on DEO. Zacks Investment Research lowered shares of Diageo PLC from a “hold” rating to a “strong sell” rating in a research report on Wednesday. JPMorgan Chase & Co. reissued a “buy” rating on shares of Diageo PLC in a report on Wednesday, September 7th. Goldman Sachs Group Inc. raised shares of Diageo PLC from a “sell” rating to a “neutral” rating in a report on Tuesday, June 28th. HSBC reissued a “hold” rating on shares of Diageo PLC in a report on Thursday, June 30th. Finally, Societe Generale raised shares of Diageo PLC from a “sell” rating to a “hold” rating in a report on Monday, June 27th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. Diageo PLC presently has an average rating of “Hold” and a consensus target price of $135.78.
Diageo PLC (NYSE:DEO) traded down 0.88% on Thursday, hitting $112.66. The stock had a trading volume of 556,117 shares. Diageo PLC has a 52-week low of $99.59 and a 52-week high of $117.95. The company’s 50 day moving average price is $114.41 and its 200 day moving average price is $111.14. The firm has a market cap of $70.70 billion, a price-to-earnings ratio of 24.26 and a beta of 0.78.
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The company also recently declared a dividend, which will be paid on Wednesday, October 12th. Shareholders of record on Friday, August 12th will be issued a $0.192 dividend. The ex-dividend date of this dividend is Wednesday, August 10th.
Large investors have recently bought and sold shares of the company. Citizens Financial Group Inc RI increased its stake in Diageo PLC by 3.0% in the second quarter. Citizens Financial Group Inc RI now owns 900 shares of the company’s stock valued at $101,000 after buying an additional 26 shares during the last quarter. Jackson Grant Investment Advisers Inc. increased its stake in Diageo PLC by 1.2% in the second quarter. Jackson Grant Investment Advisers Inc. now owns 1,050 shares of the company’s stock valued at $119,000 after buying an additional 12 shares during the last quarter. Integrated Wealth Management increased its stake in Diageo PLC by 2.4% in the second quarter. Integrated Wealth Management now owns 1,158 shares of the company’s stock valued at $131,000 after buying an additional 27 shares during the last quarter. Jolley Asset Management LLC increased its stake in Diageo PLC by 37.4% in the second quarter. Jolley Asset Management LLC now owns 1,237 shares of the company’s stock valued at $140,000 after buying an additional 337 shares during the last quarter. Finally, Washington Trust Bank increased its stake in Diageo PLC by 9.5% in the third quarter. Washington Trust Bank now owns 1,359 shares of the company’s stock valued at $158,000 after buying an additional 118 shares during the last quarter. Institutional investors and hedge funds own 10.97% of the company’s stock.
About Diageo PLC
Diageo PLC is an alcoholic beverage company. The Company operates in various categories, including spirits and beer. Its geographic segments include North America; Europe, Russia and Turkey; Africa; Latin America and Caribbean, and Asia Pacific. Its principal products includes Scotch whisky, Gin, Vodka, Rum, Beer, Irish Cream Liqueur, Wine, Raki, Tequila, Canadian Whisky, American Whiskey, Progressive Adult Beverages, Cachaca, Brandy and Ready to Drink.
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