Diageo (NYSE:DEO) Stock Dropped to Hold by Zacks Research

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

Several other equities research analysts have also weighed in on the company. Deutsche Bank restated a “neutral” rating on shares of Diageo in a report on Wednesday, October 14th. Morgan Stanley upped their target price on Diageo from $76.00 to $83.00 and gave the stock an “underweight” rating in a research report on Monday, October 26th. Barclays reiterated a “buy” rating on shares of Diageo in a report on Friday, August 7th. The Goldman Sachs Group reissued a “neutral” rating on shares of Diageo in a research report on Monday, August 10th. Finally, Royal Bank Of Canada reissued a “buy” rating on shares of Diageo in a research report on Sunday, August 23rd. Seven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $99.75.

Diageo Trading Down 1.2%

Shares of NYSE DEO opened at $100.31 on Tuesday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.60 and a quick ratio of 0.62. The business’s 50-day simple moving average is $90.57 and its 200-day simple moving average is $86.24. Diageo has a 52 week low of $72.45 and a 52 week high of $102.74.

Institutional Investors Weigh In On Diageo

Several hedge funds and other institutional investors have recently made changes to their positions in DEO. Mather Group LLC. increased its stake in shares of Diageo by 794.4% in the third quarter. Mather Group LLC. now owns 322 shares of the company’s stock worth $28,000 after purchasing an additional 286 shares during the period. Continuum Advisory LLC acquired a new position in shares of Diageo during the 2nd quarter worth about $29,000. Cassaday & Co Wealth Management LLC bought a new stake in Diageo during the 1st quarter valued at approximately $34,000. Financial Network Wealth Advisors LLC boosted its stake in Diageo by 28.1% during the 3rd quarter. Financial Network Wealth Advisors LLC now owns 598 shares of the company’s stock valued at $51,000 after purchasing an additional 131 shares during the period. Finally, Axiom Investment Management LLC bought a new stake in Diageo during the 1st quarter valued at approximately $54,000. 8.97% of the stock is owned by institutional investors and hedge funds.

About Diageo

Diageo plc is a global beverage company that produces and markets alcoholic drinks, including spirits, beer and ready-to-drink products. Its portfolio includes brands such as Johnnie Walker, Guinness, Smirnoff, Baileys, Tanqueray and Captain Morgan. The company sells its products in markets around the world through a combination of owned operations, distributors and other commercial partners. Its offerings span categories including Scotch whisky, vodka, gin, rum, tequila, liqueurs and stout. Diageo was formed in 1997 through the merger of Guinness and Grand Metropolitan.