Diageo (NYSE:DEO) Lifted to “Buy” at Citigroup

Diageo (NYSE:DEO) was upgraded by stock analysts at Citigroup from a “neutral” rating to a “buy” rating in a research note issued on Wednesday, MarketBeat reports.

Diageo Stock Performance

DEO stock opened at $128.36 on Wednesday. The stock has a 50-day moving average price of $135.32 and a two-hundred day moving average price of $141.90. Diageo has a 1 year low of $124.80 and a 1 year high of $179.78. The company has a current ratio of 1.58, a quick ratio of 0.65 and a debt-to-equity ratio of 1.73.

Institutional Investors Weigh In On Diageo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Scarborough Advisors LLC bought a new position in shares of Diageo in the 4th quarter valued at about $25,000. Planned Solutions Inc. bought a new position in Diageo in the fourth quarter valued at approximately $27,000. Beacon Capital Management LLC increased its position in shares of Diageo by 777.3% during the 1st quarter. Beacon Capital Management LLC now owns 193 shares of the company’s stock worth $29,000 after purchasing an additional 171 shares during the last quarter. Concord Wealth Partners bought a new stake in shares of Diageo during the 1st quarter worth approximately $29,000. Finally, Addison Advisors LLC boosted its holdings in shares of Diageo by 97.3% in the 4th quarter. Addison Advisors LLC now owns 217 shares of the company’s stock valued at $32,000 after buying an additional 107 shares during the last quarter. 8.97% of the stock is currently owned by institutional investors and hedge funds.

Diageo Company Profile

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. It offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavoured malt beverages. The company also provides Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as ready to drink and non-alcoholic products.