Diageo (NYSE:DEO) Stock Rating Upgraded by Zacks Research

Diageo (NYSE:DEO) was upgraded by analysts at Zacks Research from a “hold” rating to a “strong-buy” rating in a research report issued to clients and investors on Monday, Zacks reports.

DEO has been the subject of several other reports. TD Cowen reaffirmed a “buy” rating on shares of Diageo in a research note on Monday, August 10th. UBS Group restated a “neutral” rating on shares of Diageo in a report on Thursday, August 27th. Loop Capital set a $99.00 price target on Diageo in a research report on Thursday, June 18th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Diageo in a report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Diageo has a consensus rating of “Moderate Buy” and an average target price of $105.33.

Diageo Price Performance

Shares of DEO stock opened at $84.84 on Monday. The company has a quick ratio of 0.62, a current ratio of 1.60 and a debt-to-equity ratio of 1.53. Diageo has a 12-month low of $72.45 and a 12-month high of $102.74. The stock’s 50-day moving average price is $89.64 and its 200-day moving average price is $83.76.

Institutional Trading of Diageo

A number of institutional investors have recently modified their holdings of DEO. First Trust Advisors LP increased its position in Diageo by 12.0% during the 1st quarter. First Trust Advisors LP now owns 463,572 shares of the company’s stock valued at $34,513,000 after buying an additional 49,504 shares in the last quarter. CORDA Investment Management LLC. boosted its stake in Diageo by 14.5% in the 1st quarter. CORDA Investment Management LLC. now owns 169,084 shares of the company’s stock worth $12,588,000 after purchasing an additional 21,446 shares in the last quarter. Gamco Investors INC. ET AL boosted its stake in Diageo by 10.2% in the 1st quarter. Gamco Investors INC. ET AL now owns 186,176 shares of the company’s stock worth $13,861,000 after purchasing an additional 17,241 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Diageo by 53.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,372,808 shares of the company’s stock worth $102,124,000 after purchasing an additional 477,999 shares during the last quarter. Finally, Bank of New York Mellon Corp grew its position in Diageo by 9.5% during the 1st quarter. Bank of New York Mellon Corp now owns 160,477 shares of the company’s stock worth $11,948,000 after purchasing an additional 13,928 shares during the last quarter. 8.97% of the stock is currently owned by institutional investors.

Diageo Company Profile

Diageo plc is a global beverage alcohol company headquartered in London, England. The company produces, markets and distributes a broad portfolio of spirits, beer and ready-to-drink beverages through a collection of internationally recognized brands.

Its portfolio includes Johnnie Walker, Crown Royal, Buchanan’s and Talisker whiskies; Smirnoff, Cîroc and Ketel One vodkas; Tanqueray and Gordon’s gins; Baileys liqueur; Don Julio and Casamigos tequila; Captain Morgan rum; and Guinness beer.