Diageo (NYSE:DEO) Downgraded to Strong Sell Rating by Zacks Research

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

A number of other equities analysts have also commented on the company. Weiss Ratings reissued a “sell (d)” rating on shares of Diageo in a research note on Wednesday, October 8th. The Goldman Sachs Group raised shares of Diageo from a “sell” rating to a “neutral” rating in a research note on Thursday, August 7th. Finally, Bank of America dropped their target price on Diageo from $117.00 to $109.00 and set a “buy” rating for the company in a report on Friday, September 26th. Four research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $119.00.

Diageo Stock Down 0.4%

Diageo stock opened at $96.97 on Tuesday. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.63 and a quick ratio of 0.64. Diageo has a 12-month low of $86.57 and a 12-month high of $132.34. The firm has a 50 day moving average of $96.99 and a 200 day moving average of $104.02.

Institutional Investors Weigh In On Diageo

Several hedge funds have recently made changes to their positions in the company. Venturi Wealth Management LLC grew its holdings in Diageo by 3.6% during the 1st quarter. Venturi Wealth Management LLC now owns 2,582 shares of the company’s stock worth $271,000 after acquiring an additional 89 shares in the last quarter. SageView Advisory Group LLC raised its stake in Diageo by 1.7% in the first quarter. SageView Advisory Group LLC now owns 5,450 shares of the company’s stock worth $571,000 after buying an additional 89 shares in the last quarter. Dorsey & Whitney Trust CO LLC lifted its holdings in Diageo by 3.0% during the second quarter. Dorsey & Whitney Trust CO LLC now owns 3,287 shares of the company’s stock worth $331,000 after buying an additional 96 shares during the period. Pinnacle West Asset Management Inc. boosted its position in Diageo by 3.2% during the 1st quarter. Pinnacle West Asset Management Inc. now owns 3,240 shares of the company’s stock valued at $340,000 after acquiring an additional 100 shares in the last quarter. Finally, Aaron Wealth Advisors LLC increased its holdings in shares of Diageo by 2.9% in the 2nd quarter. Aaron Wealth Advisors LLC now owns 3,541 shares of the company’s stock valued at $357,000 after acquiring an additional 101 shares during the period. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

About Diageo

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. The company offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavored malt beverages. It also provides Chinese, Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as flavored malt beverages, ready to drink, and non-alcoholic products.