Diageo (LON:DGE – Free Report) had its target price trimmed by Royal Bank of Canada from GBX 2,500 ($32.16) to GBX 2,100 ($27.01) in a research note released on Wednesday, Marketbeat reports. The brokerage currently has an underperform rating on the stock.
DGE has been the topic of several other reports. Citigroup reissued a buy rating and set a GBX 3,000 ($38.59) price target on shares of Diageo in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft reissued a sell rating on shares of Diageo in a research report on Tuesday, April 30th. Jefferies Financial Group reaffirmed a hold rating and set a GBX 2,800 ($36.02) price target on shares of Diageo in a report on Wednesday, June 12th. Finally, Barclays boosted their price objective on shares of Diageo from GBX 3,550 ($45.67) to GBX 3,640 ($46.82) and gave the stock an overweight rating in a report on Wednesday, May 1st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of Hold and an average target price of GBX 2,948 ($37.92).
Read Our Latest Stock Analysis on DGE
Diageo Trading Down 0.8 %
Diageo Increases Dividend
The business also recently declared a dividend, which will be paid on Thursday, October 17th. Investors of record on Thursday, August 29th will be issued a $0.63 dividend. The ex-dividend date of this dividend is Thursday, August 29th. This is a boost from Diageo’s previous dividend of $0.41. This represents a yield of 1.92%. Diageo’s dividend payout ratio is currently 5,625.00%.
Insiders Place Their Bets
In related news, insider Javier Ferrán bought 314 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was bought at an average price of GBX 2,640 ($33.96) per share, with a total value of £8,289.60 ($10,663.24). Insiders purchased a total of 612 shares of company stock valued at $1,671,964 in the last ninety days. Corporate insiders own 0.13% of the company’s stock.
Diageo Company Profile
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.
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