Diageo PLC (NYSE:DEO) gapped up before the market opened on Tuesday . The stock had previously closed at $113.35, but opened at $113.78. Diageo PLC shares last traded at $115.20, with a volume of 350,150 shares.

Several research analysts have recently weighed in on DEO shares. Barclays PLC lowered shares of Diageo PLC from an “overweight” rating to an “equal weight” rating in a report on Friday, July 8th. Societe Generale reiterated a “sell” rating on shares of Diageo PLC in a report on Wednesday, June 1st. HSBC reiterated a “hold” rating on shares of Diageo PLC in a report on Thursday, June 30th. Zacks Investment Research upgraded shares of Diageo PLC from a “sell” rating to a “hold” rating in a report on Tuesday, April 5th. Finally, Goldman Sachs Group Inc. upgraded shares of Diageo PLC from a “sell” rating to a “neutral” rating in a report on Tuesday, June 28th. Nine investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Diageo PLC has an average rating of “Buy” and an average target price of $128.86.

The stock’s 50 day moving average is $109.80 and its 200 day moving average is $107.81. The stock has a market capitalization of $71.97 billion and a P/E ratio of 22.05.

A number of hedge funds have recently added to or reduced their stakes in the company. MUFG Americas boosted its stake in Diageo PLC by 2.8% in the third quarter. MUFG Americas now owns 29,319 shares of the company’s stock valued at $3,160,000 after buying an additional 789 shares during the last quarter. Sei Investments Co. boosted its position in shares of Diageo PLC by 21.1% in the fourth quarter. Sei Investments Co. now owns 22,583 shares of the company’s stock valued at $2,463,000 after buying an additional 3,936 shares in the last quarter. First Trust Advisors LP boosted its position in shares of Diageo PLC by 22.6% in the fourth quarter. First Trust Advisors LP now owns 59,568 shares of the company’s stock valued at $6,497,000 after buying an additional 10,990 shares in the last quarter. Comerica Bank boosted its position in shares of Diageo PLC by 4.9% in the fourth quarter. Comerica Bank now owns 36,750 shares of the company’s stock valued at $3,843,000 after buying an additional 1,726 shares in the last quarter. Finally, Brown Advisory Inc. boosted its position in shares of Diageo PLC by 9.9% in the fourth quarter. Brown Advisory Inc. now owns 45,728 shares of the company’s stock valued at $4,988,000 after buying an additional 4,121 shares in the last quarter.

Diageo plc (Diageo) is a drinks business company. The Company is a provider of beverage alcohol of various brands in spirits, beer and wine. The Company produces its brands from more than 200 sites in over 30 countries. Diageo owns manufacturing production facilities across the globe, including maltings, distilleries, breweries, packaging plants, maturation warehouses, cooperages, vineyards, wineries and distribution warehouses.

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