Diageo (LON:DGE) Stock Crosses Above 200 Day Moving Average – Here’s Why

Diageo plc (LON:DGE)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of GBX 1,557.74 and traded as high as GBX 1,654.50. Diageo shares last traded at GBX 1,635.73, with a volume of 1,352,899,000 shares trading hands.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on DGE shares. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a GBX 1,700 price target on shares of Diageo in a report on Friday. Berenberg Bank reissued a “buy” rating and set a GBX 2,223 target price on shares of Diageo in a research note on Friday. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a GBX 2,000 price target on shares of Diageo in a research note on Wednesday, May 27th. Jefferies Financial Group restated a “buy” rating and set a £222.30 price objective on shares of Diageo in a report on Friday, June 26th. Finally, UBS Group reiterated a “neutral” rating and issued a GBX 1,600 target price on shares of Diageo in a report on Tuesday, May 5th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of GBX 4,890.43.

Diageo Price Performance

The firm has a market capitalization of £39.80 billion, a P/E ratio of 16.54, a P/E/G ratio of 1.75 and a beta of 0.31. The company has a debt-to-equity ratio of 208.59, a current ratio of 1.60 and a quick ratio of 0.62. The stock’s fifty day simple moving average is GBX 1,553.50 and its 200 day simple moving average is GBX 1,559.85.

Insider Activity at Diageo

In other news, insider John Alexander Manzoni bought 436 shares of the stock in a transaction on Friday, July 10th. The stock was bought at an average cost of GBX 1,503 per share, for a total transaction of £6,553.08. Also, insider John Rishton purchased 3,274 shares of the business’s stock in a transaction on Monday, May 18th. The stock was purchased at an average cost of GBX 1,527 per share, for a total transaction of £49,993.98. Over the last 90 days, insiders acquired 4,606 shares of company stock valued at $7,012,849. 0.17% of the stock is owned by insiders.

Diageo Company Profile

Diageo is a global leader in premium drinks, across spirits and beer, a business built on the principles and foundations laid by the giants of the industry.

With over 200 brands sold in 180 countries, our portfolio has remarkable breadth. From centuries-old names to exciting new entrants, and global giants to local legends, we’re building the very best brands out there, and with over 30,000 talented people based in over 135 countries, we’re a truly global company. With such diversity, we’re able to truly represent our broad consumer base and think differently about the future.

To maintain our position as leaders in the alcoholic beverage market, we always invest in the future and are mindful of the impact we have.