Diageo (NYSE:DEO) Rating Increased to Hold at Argus

Diageo (NYSE:DEO) was upgraded by research analysts at Argus to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

DEO has been the subject of a number of other research reports. UBS Group reissued a “neutral” rating on shares of Diageo in a research report on Wednesday, December 3rd. Royal Bank Of Canada upgraded shares of Diageo from a “sector perform” rating to an “outperform” rating in a research note on Tuesday, January 6th. Sanford C. Bernstein set a $124.00 price target on Diageo and gave the stock an “outperform” rating in a report on Monday, December 29th. HSBC downgraded Diageo from a “buy” rating to a “hold” rating in a research report on Monday, March 2nd. Finally, Weiss Ratings reaffirmed a “sell (d)” rating on shares of Diageo in a research report on Wednesday, January 21st. Five equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $116.50.

Diageo Trading Down 0.8%

Shares of DEO opened at $81.41 on Tuesday. The company has a quick ratio of 0.71, a current ratio of 1.60 and a debt-to-equity ratio of 1.53. Diageo has a twelve month low of $80.45 and a twelve month high of $116.69. The firm’s 50 day moving average price is $91.08 and its two-hundred day moving average price is $93.91.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of DEO. Bank of Montreal Can boosted its holdings in shares of Diageo by 428.7% during the fourth quarter. Bank of Montreal Can now owns 2,173,047 shares of the company’s stock worth $187,469,000 after acquiring an additional 1,762,027 shares during the period. The Manufacturers Life Insurance Company grew its holdings 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 buying an additional 1,566,013 shares in the last quarter. Equity Investment Corp bought a new position in Diageo during the 3rd quarter worth $92,970,000. Orbis Allan Gray Ltd raised its stake in Diageo by 236.6% in the 2nd quarter. Orbis Allan Gray Ltd now owns 1,157,991 shares of the company’s stock worth $116,772,000 after purchasing an additional 813,973 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its stake in Diageo by 353.7% in the second quarter. Arrowstreet Capital Limited Partnership now owns 717,740 shares of the company’s stock valued at $72,377,000 after acquiring an additional 559,547 shares during the last quarter. 8.97% of the stock is owned by institutional investors.

About Diageo

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.