Diageo (NYSE:DEO) Stock Lifted to “Strong-Buy” by Zacks Research

Zacks Research upgraded shares of Diageo (NYSE:DEO) from a hold rating to a strong-buy rating in a research note released on Monday,Zacks reports.

Several other analysts also recently commented on DEO. UBS Group reiterated a “neutral” rating on shares of Diageo in a report on Thursday, August 27th. Weiss Ratings reiterated a “sell (d)” rating on shares of Diageo in a research note on Friday, July 17th. TD Cowen reissued a “buy” rating on shares of Diageo in a research report on Monday, August 10th. Finally, Loop Capital set a $99.00 target price on Diageo in a research note on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $105.33.

Diageo Price Performance

DEO opened at $84.84 on Monday. The company has a quick ratio of 0.62, a current ratio of 1.60 and a debt-to-equity ratio of 1.53. The firm’s fifty day moving average price is $89.64 and its two-hundred day moving average price is $83.76. Diageo has a 1 year low of $72.45 and a 1 year high of $102.74.

Diageo Dividend Announcement

The business also recently disclosed a dividend, which will be paid on Thursday, December 3rd. Investors of record on Friday, October 16th will be issued a dividend of $1.20 per share. This represents a yield of 252.0%. The ex-dividend date is Friday, October 16th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of DEO. First Trust Advisors LP raised its position in shares of Diageo by 12.0% in the first quarter. First Trust Advisors LP now owns 463,572 shares of the company’s stock valued at $34,513,000 after purchasing an additional 49,504 shares during the period. CORDA Investment Management LLC. boosted its holdings in Diageo by 14.5% in the 1st quarter. CORDA Investment Management LLC. now owns 169,084 shares of the company’s stock worth $12,588,000 after buying an additional 21,446 shares during the period. Gamco Investors INC. ET AL grew its stake in Diageo by 10.2% in the 1st quarter. Gamco Investors INC. ET AL now owns 186,176 shares of the company’s stock valued at $13,861,000 after buying an additional 17,241 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Diageo by 53.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,372,808 shares of the company’s stock valued at $102,124,000 after acquiring an additional 477,999 shares during the period. Finally, Bank of New York Mellon Corp raised its holdings in Diageo by 9.5% during the 1st quarter. Bank of New York Mellon Corp now owns 160,477 shares of the company’s stock valued at $11,948,000 after acquiring an additional 13,928 shares during the period. 8.97% of the stock is owned by institutional investors.

About Diageo

Diageo plc is a global beverage alcohol company headquartered in London, England. The company produces, markets and distributes a broad portfolio of spirits, beer and ready-to-drink beverages through a collection of internationally recognized brands.

Its portfolio includes Johnnie Walker, Crown Royal, Buchanan’s and Talisker whiskies; Smirnoff, Cîroc and Ketel One vodkas; Tanqueray and Gordon’s gins; Baileys liqueur; Don Julio and Casamigos tequila; Captain Morgan rum; and Guinness beer.