Diageo PLC (NYSE:DEO) shares saw unusually-strong trading volume on Friday . Approximately 1,489,368 shares changed hands during trading, an increase of 53% from the previous session’s volume of 971,284 shares.The stock last traded at $116.80 and had previously closed at $116.99.

Several research analysts have issued reports on DEO shares. Goldman Sachs Group Inc. upgraded Diageo PLC from a “sell” rating to a “neutral” rating in a research note on Tuesday, June 28th. HSBC reiterated a “hold” rating on shares of Diageo PLC in a research note on Thursday, June 30th. Barclays PLC lowered Diageo PLC from an “overweight” rating to an “equal weight” rating in a research note on Friday, July 8th. Zacks Investment Research upgraded Diageo PLC from a “sell” rating to a “hold” rating in a research note on Tuesday, April 5th. Finally, Societe Generale upgraded Diageo PLC from a “sell” rating to a “hold” rating in a research note on Monday, June 27th. Nine research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Diageo PLC presently has a consensus rating of “Buy” and an average target price of $128.86.

The stock has a 50-day moving average price of $110.34 and a 200 day moving average price of $108.00. The company has a market cap of $73.10 billion and a PE ratio of 24.88.

Other hedge funds recently added to or reduced their stakes in the company. MUFG Americas increased its stake in Diageo PLC by 2.8% in the third quarter. MUFG Americas now owns 29,319 shares of the company’s stock worth $3,160,000 after buying an additional 789 shares during the last quarter. Bank of Montreal Can increased its stake in Diageo PLC by 17.4% in the fourth quarter. Bank of Montreal Can now owns 134,704 shares of the company’s stock worth $14,691,000 after buying an additional 19,961 shares during the last quarter. Manitou Investment Management Ltd. increased its stake in Diageo PLC by 2.0% in the fourth quarter. Manitou Investment Management Ltd. now owns 112,210 shares of the company’s stock worth $12,239,000 after buying an additional 2,190 shares during the last quarter. Smith Salley & Associates increased its stake in Diageo PLC by 3.1% in the fourth quarter. Smith Salley & Associates now owns 29,492 shares of the company’s stock worth $3,217,000 after buying an additional 881 shares during the last quarter. Finally, Suntrust Banks Inc. increased its stake in Diageo PLC by 20.8% in the fourth quarter. Suntrust Banks Inc. now owns 24,800 shares of the company’s stock worth $2,704,000 after buying an additional 4,278 shares during 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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