Diageo (NYSE:DEO) Stock Rating Upgraded by BNP Paribas Exane

Diageo (NYSE:DEO) was upgraded by investment analysts at BNP Paribas Exane from an “underperform” rating to a “neutral” rating in a research report issued to clients and investors on Wednesday, Marketbeat reports.

A number of other equities research analysts also recently weighed in on DEO. Barclays restated an “overweight” rating on shares of Diageo in a research report on Thursday, December 11th. Sanford C. Bernstein set a $124.00 price target on Diageo and gave the company an “outperform” rating in a report on Monday, December 29th. Royal Bank Of Canada upgraded Diageo from a “sector perform” rating to an “outperform” rating in a research report on Tuesday, January 6th. Weiss Ratings restated a “sell (d)” rating on shares of Diageo in a research report on Wednesday, January 21st. Finally, HSBC lowered shares of Diageo from a “buy” rating to a “hold” rating in a research note on Monday, March 2nd. Five research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $116.50.

Diageo Trading Down 2.2%

DEO stock opened at $72.47 on Wednesday. The company has a 50 day moving average price of $88.66 and a 200 day moving average price of $91.40. Diageo has a fifty-two week low of $72.45 and a fifty-two week high of $116.69. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.71 and a current ratio of 1.60.

Hedge Funds Weigh In On Diageo

Several hedge funds have recently added to or reduced their stakes in the stock. Bank of Montreal Can increased its stake in shares of Diageo by 428.7% in the 4th quarter. Bank of Montreal Can now owns 2,173,047 shares of the company’s stock valued at $187,469,000 after acquiring an additional 1,762,027 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Diageo by 72,871.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,568,162 shares of the company’s stock worth $158,133,000 after acquiring an additional 1,566,013 shares during the last quarter. Equity Investment Corp acquired a new position in Diageo during the third quarter valued at approximately $92,970,000. Orbis Allan Gray Ltd grew its holdings in Diageo by 236.6% during the second quarter. Orbis Allan Gray Ltd now owns 1,157,991 shares of the company’s stock valued at $116,772,000 after purchasing an additional 813,973 shares during the period. 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 purchasing an additional 559,547 shares in the last quarter. Institutional investors and hedge funds own 8.97% of the company’s stock.

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.