Diageo (NYSE:DEO) Upgraded at Zacks Research

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

DEO has been the subject of a number of other research reports. Sanford C. Bernstein set a $124.00 price objective on Diageo and gave the company an “outperform” rating in a research note on Monday, December 29th. Barclays restated an “overweight” rating on shares of Diageo in a research note on Thursday, December 11th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Diageo in a report on Friday, November 28th. Weiss Ratings reissued a “sell (d)” rating on shares of Diageo in a report on Wednesday, January 21st. Finally, UBS Group restated a “neutral” rating on shares of Diageo in a research report on Wednesday, December 3rd. Five analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $116.50.

Diageo Price Performance

NYSE DEO opened at $72.47 on Monday. Diageo has a 1 year low of $72.45 and a 1 year high of $116.69. 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 company has a fifty day moving average of $88.66 and a 200 day moving average of $91.40.

Hedge Funds Weigh In On Diageo

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DEO. Twin Peaks Wealth Advisors LLC purchased a new stake in shares of Diageo during the second quarter worth about $26,000. Arlington Trust Co LLC raised its position in shares of Diageo by 3,885.7% during the 3rd quarter. Arlington Trust Co LLC now owns 279 shares of the company’s stock worth $27,000 after purchasing an additional 272 shares during the last quarter. Spire Wealth Management lifted its stake in 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 buying an additional 178 shares in the last quarter. New England Capital Financial Advisors LLC purchased a new position in Diageo in the 3rd quarter valued at about $29,000. Finally, Sound Income Strategies LLC boosted 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 worth $29,000 after buying an additional 320 shares during the last quarter. 8.97% of the stock is owned by hedge funds and other institutional investors.

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.