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

Diageo (NYSE:DEO) was downgraded by investment analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Monday,Zacks.com reports.

DEO has been the topic of several other reports. Weiss Ratings restated a “sell (d)” rating on shares of Diageo in a report on Friday, July 17th. Loop Capital set a $99.00 price target on Diageo in a research note on Thursday, June 18th. Deutsche Bank Aktiengesellschaft raised Diageo from a “hold” rating to a “buy” rating in a report on Tuesday, March 31st. Finally, TD Cowen raised Diageo from a “hold” rating to a “buy” rating and raised their price objective for the company from $88.00 to $93.00 in a research note on Thursday, June 25th. Six analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, Diageo currently has an average rating of “Hold” and an average price target of $106.25.

Diageo Stock Performance

DEO stock opened at $88.90 on Monday. 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 1 year low of $72.45 and a 1 year high of $116.41. The company has a fifty day simple moving average of $82.35 and a 200 day simple moving average of $83.84.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of DEO. Spire Wealth Management lifted its position in Diageo by 123.6% during the 4th quarter. Spire Wealth Management now owns 322 shares of the company’s stock worth $28,000 after acquiring an additional 178 shares during the last quarter. Sound Income Strategies LLC grew its position in shares of Diageo by 8,000.0% in the fourth quarter. Sound Income Strategies LLC now owns 324 shares of the company’s stock valued at $29,000 after purchasing an additional 320 shares during the last quarter. Flagship Harbor Advisors LLC acquired a new stake in shares of Diageo in the fourth quarter valued at about $30,000. Cassaday & Co Wealth Management LLC bought a new position in shares of Diageo in the first quarter worth about $34,000. Finally, Cromwell Holdings LLC bought a new position in shares of Diageo in the fourth quarter worth about $49,000. Institutional investors 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.