Diageo (NYSE:DEO) Upgraded to “Hold” at Zacks Research

Diageo (NYSE:DEO) was upgraded by stock analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research note issued on Monday,Zacks.com reports.

Other equities analysts also recently issued reports about the stock. Argus upgraded shares of Diageo to a “hold” rating in a report on Tuesday, March 10th. Sanford C. Bernstein set a $124.00 price target on shares of Diageo and gave the company an “outperform” rating in a report on Monday, December 29th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Diageo in a research report on Wednesday, January 21st. UBS Group reiterated a “neutral” rating on shares of Diageo in a research note on Wednesday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Diageo in a research report on Friday, November 28th. Five equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $116.50.

Diageo Price Performance

Shares of NYSE DEO opened at $72.47 on Monday. Diageo has a 1-year low of $72.45 and a 1-year high of $116.69. The business has a fifty day moving average price of $88.66 and a 200 day moving average price of $91.40. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.71 and a current ratio of 1.60.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. World Investment Advisors lifted its holdings in shares of Diageo by 1.3% during the fourth quarter. World Investment Advisors now owns 48,643 shares of the company’s stock worth $4,196,000 after purchasing an additional 625 shares during the period. Advisortrust Partners LLC acquired a new position in Diageo in the 4th quarter worth approximately $412,000. Rehmann Capital Advisory Group increased its holdings in Diageo by 63.2% in the 4th quarter. Rehmann Capital Advisory Group now owns 3,970 shares of the company’s stock worth $339,000 after buying an additional 1,537 shares during the period. MidFirst Bank purchased a new position in Diageo during the 4th quarter worth approximately $118,000. Finally, Virtu Financial LLC raised its position in Diageo by 90.2% during the 4th quarter. Virtu Financial LLC now owns 46,086 shares of the company’s stock worth $3,976,000 after buying an additional 21,853 shares during the last quarter. 8.97% of the stock is owned by institutional investors and hedge funds.

About Diageo

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.