Diageo plc (NYSE:DEO) Short Interest Up 24.3% in March

Diageo plc (NYSE:DEO) was the target of a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 3,800,255 shares, a growth of 24.3% from the February 26th total of 3,056,944 shares. Approximately 0.7% of the company’s stock are short sold. Based on an average daily volume of 2,326,831 shares, the days-to-cover ratio is currently 1.6 days.

Diageo Stock Performance

Shares of NYSE DEO traded down $0.65 during mid-day trading on Monday, reaching $73.42. 3,039,087 shares of the company’s stock traded hands, compared to its average volume of 2,026,796. The business has a 50-day simple moving average of $87.71 and a 200 day simple moving average of $90.74. Diageo has a 1-year low of $72.45 and a 1-year high of $116.69. The company has a quick ratio of 0.71, a current ratio of 1.60 and a debt-to-equity ratio of 1.53.

Diageo Dividend Announcement

The firm also recently declared a dividend, which will be paid on Thursday, June 4th. Investors of record on Friday, April 17th will be given a $0.80 dividend. The ex-dividend date of this dividend is Friday, April 17th. This represents a yield of 207.0%.

Institutional Trading of Diageo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Diageo during the second quarter valued at approximately $26,000. Arlington Trust Co LLC raised its position in Diageo by 3,885.7% in the 3rd quarter. Arlington Trust Co LLC now owns 279 shares of the company’s stock valued at $27,000 after buying an additional 272 shares during the last quarter. Spire Wealth Management raised its position in Diageo by 123.6% in the 4th quarter. Spire Wealth Management now owns 322 shares of the company’s stock valued at $28,000 after buying an additional 178 shares during the last quarter. New England Capital Financial Advisors LLC bought a new position in Diageo during the 3rd quarter valued at $29,000. Finally, Sound Income Strategies LLC lifted its stake in Diageo by 8,000.0% during the 4th quarter. Sound Income Strategies LLC now owns 324 shares of the company’s stock valued at $29,000 after acquiring an additional 320 shares in the last quarter. 8.97% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

DEO has been the topic of several research reports. HSBC lowered shares of Diageo from a “buy” rating to a “hold” rating in a report on Monday, March 2nd. Zacks Research upgraded Diageo from a “strong sell” rating to a “hold” rating in a research note on Monday, March 23rd. Royal Bank Of Canada raised Diageo from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, January 6th. Sanford C. Bernstein set a $124.00 price target on Diageo and gave the stock an “outperform” rating in a research note on Monday, December 29th. Finally, Weiss Ratings reiterated a “sell (d)” rating on shares of Diageo in a report on Wednesday, January 21st. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, Diageo currently has a consensus rating of “Hold” and a consensus price target of $116.50.

Diageo Company Profile

Diageo plc is a global producer, marketer and distributor of alcoholic beverages, headquartered in London, England. The company was created through the 1997 merger of Guinness plc and Grand Metropolitan plc and is publicly traded on multiple exchanges, including the New York Stock Exchange (NYSE: DEO) and the London Stock Exchange. Diageo operates a worldwide business, selling products in a broad range of markets across the Americas, Europe, Africa, Asia and Latin America.

Diageo’s core activities cover the production, marketing and sale of a diverse portfolio of spirits, beer and liqueurs.