Diageo (NYSE:DEO) Lowered to Hold Rating by TD Cowen

Diageo (NYSE:DEO) was downgraded by stock analysts at TD Cowen from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Friday,Zacks.com reports.

Several other analysts also recently commented on DEO. Argus upgraded Diageo to a “hold” rating in a research note on Tuesday, March 10th. Zacks Research raised Diageo from a “strong sell” rating to a “hold” rating in a research note on Monday, March 23rd. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Diageo in a research note on Monday, April 20th. HSBC lowered Diageo from a “buy” rating to a “hold” rating in a report on Monday, March 2nd. Finally, Loop Capital set a $99.00 price objective on Diageo in a research note on Thursday, June 18th. Five equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $106.25.

Diageo Price Performance

Shares of DEO opened at $83.47 on Friday. Diageo has a 52-week low of $72.45 and a 52-week high of $116.41. The business’s 50 day moving average price is $81.64 and its two-hundred day moving average price is $84.55. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.60 and a quick ratio of 0.71.

Hedge Funds Weigh In On Diageo

Several large investors have recently added to or reduced their stakes in the business. NewEdge Advisors LLC raised its stake in shares of Diageo by 13.4% in the first quarter. NewEdge Advisors LLC now owns 24,186 shares of the company’s stock worth $1,801,000 after purchasing an additional 2,850 shares during the last quarter. First Nebraska Trust Co bought a new position in shares of Diageo in the first quarter valued at approximately $245,000. Axiom Investment Management LLC purchased a new position in shares of Diageo during the first quarter valued at approximately $54,000. Western Wealth Management LLC purchased a new position in shares of Diageo during the first quarter valued at approximately $67,000. Finally, Orographic Financial Advisors LLC bought a new stake in Diageo during the first quarter worth $241,000. Institutional investors own 8.97% of the company’s stock.

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.