Diageo (NYSE:DEO) Upgraded at Zacks Research

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

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

Diageo Stock Down 0.1%

Shares of DEO stock opened at $84.71 on Monday. Diageo has a 1-year low of $72.45 and a 1-year high of $102.74. The stock’s fifty day moving average price is $89.55 and its 200 day moving average price is $83.83. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.62 and a current ratio of 1.60.

Diageo Announces Dividend

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

Hedge Funds Weigh In On Diageo

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of America Corp DE grew its position in shares of Diageo by 3.7% in the first quarter. Bank of America Corp DE now owns 2,913,707 shares of the company’s stock valued at $216,925,000 after purchasing an additional 103,531 shares during the period. Dimensional Fund Advisors LP lifted its stake in Diageo by 53.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,372,808 shares of the company’s stock valued at $102,124,000 after buying an additional 477,999 shares in the last quarter. Equity Investment Corp lifted its stake in Diageo by 16.7% in the 4th quarter. Equity Investment Corp now owns 1,137,390 shares of the company’s stock valued at $98,123,000 after buying an additional 163,168 shares in the last quarter. Gabelli Funds LLC boosted its holdings in Diageo by 15.7% in the 1st quarter. Gabelli Funds LLC now owns 659,821 shares of the company’s stock worth $49,124,000 after buying an additional 89,771 shares during the last quarter. Finally, Altshuler Shaham Ltd acquired a new stake in Diageo in the 1st quarter worth about $37,225,000. 8.97% of the stock is owned by hedge funds and other 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.