Diageo (NYSE:DEO) Stock Rating Upgraded by Zacks Research

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

Several other equities analysts have also recently weighed in on DEO. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Diageo in a research note on Wednesday, January 21st. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Diageo in a research report on Friday, November 28th. UBS Group reaffirmed a “neutral” rating on shares of Diageo in a research report on Wednesday, December 3rd. Sanford C. Bernstein set a $124.00 price target on shares of Diageo and gave the company an “outperform” rating in a research note on Monday, December 29th. Finally, Barclays reissued an “overweight” rating on shares of Diageo in a research report on Thursday, December 11th. Five equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $116.50.

Diageo Trading Down 2.2%

NYSE DEO opened at $72.47 on Monday. The stock’s 50 day moving average price is $88.66 and its two-hundred day moving average price is $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. Diageo has a 52 week low of $72.45 and a 52 week high of $116.69.

Institutional Trading of Diageo

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of Montreal Can lifted its stake in Diageo by 428.7% in the fourth quarter. Bank of Montreal Can now owns 2,173,047 shares of the company’s stock valued at $187,469,000 after acquiring an additional 1,762,027 shares during the last quarter. Morgan Stanley increased its stake in shares of Diageo by 32.4% during the 4th quarter. Morgan Stanley now owns 1,947,245 shares of the company’s stock worth $167,989,000 after purchasing an additional 476,979 shares during the last quarter. Orbis Allan Gray Ltd raised its holdings in shares of Diageo by 12.4% in the 4th quarter. Orbis Allan Gray Ltd now owns 1,737,346 shares of the company’s stock valued at $149,881,000 after purchasing an additional 191,216 shares during the period. Raymond James Financial Inc. raised its holdings in shares of Diageo by 48.5% in the 3rd quarter. Raymond James Financial Inc. now owns 1,701,878 shares of the company’s stock valued at $162,410,000 after purchasing an additional 555,509 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its stake in Diageo by 72,871.7% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,568,162 shares of the company’s stock valued at $158,133,000 after purchasing an additional 1,566,013 shares during the last quarter. 8.97% of the stock is owned by institutional investors.

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.