Diageo plc (DGE) Receives Overweight Rating from J P Morgan Chase & Co
J P Morgan Chase & Co reaffirmed their overweight rating on shares of Diageo plc (LON:DGE) in a research report sent to investors on Wednesday morning. They currently have a GBX 2,800 ($37.75) target price on the stock.
A number of other research analysts have also weighed in on the company. Jefferies Group LLC set a GBX 3,000 ($40.45) price objective on Diageo plc and gave the company a buy rating in a report on Friday, September 1st. Liberum Capital restated a sell rating and issued a GBX 2,000 ($26.97) price objective on shares of Diageo plc in a report on Tuesday, July 11th. BNP Paribas restated an outperform rating and issued a GBX 2,435 ($32.83) price objective on shares of Diageo plc in a report on Wednesday, July 19th. Sanford C. Bernstein set a GBX 2,920 ($39.37) price objective on Diageo plc and gave the company a buy rating in a report on Friday, July 28th. Finally, Deutsche Bank AG set a GBX 2,175 ($29.32) price objective on Diageo plc and gave the company a neutral rating in a report on Monday, July 17th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the stock. The company currently has an average rating of Buy and a consensus target price of GBX 2,560.36 ($34.52).
Diageo plc (LON:DGE) opened at 2420.50 on Wednesday. The stock’s market cap is GBX 60.84 billion. The stock has a 50 day moving average of GBX 2,538.31 and a 200 day moving average of GBX 2,359.93. Diageo plc has a 12-month low of GBX 1,946.00 and a 12-month high of GBX 2,616.00.
The business also recently disclosed a dividend, which will be paid on Thursday, October 5th. Investors of record on Thursday, August 10th will be issued a GBX 38.50 ($0.52) dividend. This is a positive change from Diageo plc’s previous dividend of $23.70. This represents a yield of 1.6%. The ex-dividend date of this dividend is Thursday, August 10th.
In other news, insider Javier Ferran bought 65,000 shares of the company’s stock in a transaction on Monday, August 14th. The stock was bought at an average cost of GBX 2,503 ($33.75) per share, with a total value of £1,626,950 ($2,193,541.86). Also, insider Alan Stewart bought 4,076 shares of the company’s stock in a transaction on Friday, July 28th. The stock was purchased at an average cost of GBX 2,465 ($33.23) per share, with a total value of £100,473.40 ($135,463.66). Over the last 90 days, insiders purchased 69,099 shares of company stock worth $172,798,894.
Diageo plc Company Profile
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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