Diageo (NYSE:DEO) Stock Rating Lowered by TD Cowen

Diageo (NYSE:DEO) was downgraded by analysts at TD Cowen from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Friday,Zacks.com reports.

A number of other research firms have also recently issued reports on DEO. Argus upgraded shares of Diageo to a “hold” rating in a research report on Tuesday, March 10th. HSBC lowered shares of Diageo from a “buy” rating to a “hold” rating in a research report on Monday, March 2nd. Loop Capital set a $99.00 target price on shares of Diageo in a research note on Thursday, June 18th. Deutsche Bank Aktiengesellschaft upgraded shares of Diageo from a “hold” rating to a “buy” rating in a report on Tuesday, March 31st. Finally, Zacks Research upgraded Diageo from a “strong sell” rating to a “hold” rating in a research note on Monday, March 23rd. Five research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Diageo has an average rating of “Hold” and an average price target of $106.25.

Diageo Stock Performance

Shares of NYSE DEO opened at $83.47 on Friday. The company has a debt-to-equity ratio of 1.53, a current ratio of 1.60 and a quick ratio of 0.71. Diageo has a 12 month low of $72.45 and a 12 month high of $116.41. The stock has a 50-day moving average price of $81.64 and a two-hundred day moving average price of $84.55.

Institutional Investors Weigh In On Diageo

A number of institutional investors have recently modified their holdings of DEO. Spire Wealth Management raised its stake in Diageo by 123.6% during the fourth quarter. Spire Wealth Management now owns 322 shares of the company’s stock worth $28,000 after buying an additional 178 shares during the last quarter. Sound Income Strategies LLC boosted its position in Diageo by 8,000.0% during the fourth quarter. Sound Income Strategies LLC now owns 324 shares of the company’s stock valued at $29,000 after acquiring an additional 320 shares during the last quarter. Texas Capital Bancshares Inc TX acquired a new stake in Diageo during the 3rd quarter worth about $32,000. Flagship Harbor Advisors LLC acquired a new stake in Diageo during the 4th quarter worth about $30,000. Finally, Cassaday & Co Wealth Management LLC acquired a new stake in Diageo during the 1st quarter worth about $34,000. 8.97% of the stock is owned by institutional investors.

Diageo Company Profile

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.