Diageo plc (NYSE:DEO) Sees Large Growth in Short Interest

Diageo plc (NYSE:DEO) was the recipient of a significant growth in short interest during the month of September. As of September 30th, there was short interest totalling 930,000 shares, a growth of 16.4% from the September 15th total of 799,100 shares. Based on an average daily volume of 846,700 shares, the short-interest ratio is currently 1.1 days. Approximately 0.2% of the company’s stock are sold short.

Diageo Trading Up 0.9 %

Shares of Diageo stock traded up $1.24 on Wednesday, reaching $135.77. The company’s stock had a trading volume of 580,391 shares, compared to its average volume of 765,128. Diageo has a 52 week low of $119.48 and a 52 week high of $161.64. The firm’s fifty day simple moving average is $132.70 and its two-hundred day simple moving average is $133.96. The company has a quick ratio of 0.55, a current ratio of 1.53 and a debt-to-equity ratio of 1.62.

Diageo Announces Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Thursday, October 17th. Shareholders of record on Friday, August 30th will be given a $1.62 dividend. This represents a yield of 3.2%. The ex-dividend date is Friday, August 30th.

Hedge Funds Weigh In On Diageo

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Beacon Financial Group bought a new stake in shares of Diageo in the fourth quarter worth $296,000. Wellington Management Group LLP grew its stake in shares of Diageo by 56.7% during the 4th quarter. Wellington Management Group LLP now owns 677,478 shares of the company’s stock valued at $98,681,000 after purchasing an additional 245,255 shares during the period. QRG Capital Management Inc. lifted its stake in shares of Diageo by 16.4% in the 1st quarter. QRG Capital Management Inc. now owns 7,185 shares of the company’s stock worth $1,069,000 after purchasing an additional 1,011 shares during the period. Cetera Investment Advisers lifted its stake in shares of Diageo by 461.4% in the 1st quarter. Cetera Investment Advisers now owns 70,630 shares of the company’s stock worth $10,506,000 after purchasing an additional 58,048 shares during the period. Finally, Geneos Wealth Management Inc. boosted its holdings in shares of Diageo by 2,128.6% in the first quarter. Geneos Wealth Management Inc. now owns 9,494 shares of the company’s stock worth $1,412,000 after buying an additional 9,068 shares during the last quarter. Institutional investors own 8.97% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on DEO shares. The Goldman Sachs Group cut Diageo from a “neutral” rating to a “sell” rating in a research note on Friday, July 12th. Bank of America raised Diageo from a “neutral” rating to a “buy” rating in a research report on Thursday, September 12th. Royal Bank of Canada raised shares of Diageo from an “underperform” rating to a “sector perform” rating in a research report on Monday, August 12th. Finally, Citigroup upgraded shares of Diageo from a “neutral” rating to a “buy” rating in a research note on Wednesday, July 3rd. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold”.

About Diageo

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.