Diageo plc (NYSE:DEO) Receives Average Rating of “Hold” from Brokerages

Diageo plc (NYSE:DEO) has received an average recommendation of “Hold” from the thirteen brokerages that are covering the stock, MarketBeat Ratings reports. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and six have assigned a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $106.25.

DEO has been the topic of a number of research reports. Loop Capital set a $99.00 price objective on Diageo in a report on Thursday, June 18th. Argus raised shares of Diageo to a “hold” rating in a report on Tuesday, March 10th. Weiss Ratings reiterated a “sell (d)” rating on shares of Diageo in a research report on Monday, April 20th. TD Cowen raised shares of Diageo from a “hold” rating to a “buy” rating and raised their price target for the stock from $88.00 to $93.00 in a research note on Thursday, June 25th. Finally, Zacks Research raised shares of Diageo from a “strong sell” rating to a “hold” rating in a research note on Monday, March 23rd.

Institutional Investors Weigh In On Diageo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DEO. Spire Wealth Management lifted its stake in shares of Diageo by 123.6% in the 4th quarter. Spire Wealth Management now owns 322 shares of the company’s stock valued at $28,000 after purchasing an additional 178 shares during the last quarter. Sound Income Strategies LLC raised its holdings in Diageo by 8,000.0% in the 4th quarter. Sound Income Strategies LLC now owns 324 shares of the company’s stock valued at $29,000 after buying an additional 320 shares during the period. Flagship Harbor Advisors LLC purchased a new stake in Diageo in the 4th quarter valued at about $30,000. Texas Capital Bancshares Inc TX acquired a new position in Diageo in the third quarter valued at about $32,000. Finally, Cassaday & Co Wealth Management LLC acquired a new position in Diageo in the first quarter valued at about $34,000. Institutional investors and hedge funds own 8.97% of the company’s stock.

Diageo Trading Up 4.5%

NYSE DEO opened at $82.28 on Friday. The company has a debt-to-equity ratio of 1.53, a quick ratio of 0.71 and a current ratio of 1.60. The stock’s 50 day simple moving average is $81.61 and its 200-day simple moving average is $84.36. Diageo has a 1-year low of $72.45 and a 1-year high of $116.41.

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.