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

Zacks Research lowered shares of Diageo (NYSE:DEO) from a hold rating to a strong sell rating in a research note published on Monday morning,Zacks.com reports.

A number of other equities research analysts also recently issued reports on DEO. Loop Capital set a $99.00 target price on shares of Diageo in a report on Thursday, June 18th. Deutsche Bank Aktiengesellschaft raised shares of Diageo from a “hold” rating to a “buy” rating in a report on Tuesday, March 31st. Weiss Ratings reiterated a “sell (d)” rating on shares of Diageo in a research report on Friday, July 17th. Finally, TD Cowen raised shares of Diageo from a “hold” rating to a “buy” rating and lifted their price objective for the company from $88.00 to $93.00 in a research note on Thursday, June 25th. Six research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $106.25.

Diageo Price Performance

Shares of NYSE DEO opened at $88.90 on Monday. The business has a fifty day moving average price of $82.35 and a two-hundred day moving average price of $83.84. 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 fifty-two week low of $72.45 and a fifty-two week high of $116.41.

Institutional Investors Weigh In On Diageo

A number of hedge funds have recently made changes to their positions in DEO. Glenview Trust Co increased its position in Diageo by 3.7% during the 4th quarter. Glenview Trust Co now owns 2,928 shares of the company’s stock worth $253,000 after purchasing an additional 104 shares in the last quarter. Mission Wealth Management LP boosted its position in Diageo by 4.0% in the fourth quarter. Mission Wealth Management LP now owns 2,992 shares of the company’s stock valued at $258,000 after buying an additional 114 shares in the last quarter. Intrust Bank NA boosted its position in Diageo by 4.4% in the fourth quarter. Intrust Bank NA now owns 3,270 shares of the company’s stock valued at $282,000 after buying an additional 138 shares in the last quarter. Elevation Point Wealth Partners LLC grew its stake in shares of Diageo by 5.3% during the fourth quarter. Elevation Point Wealth Partners LLC now owns 2,792 shares of the company’s stock worth $241,000 after buying an additional 141 shares during the last quarter. Finally, Autumn Glory Partners LLC grew its stake in shares of Diageo by 1.5% during the fourth quarter. Autumn Glory Partners LLC now owns 9,908 shares of the company’s stock worth $855,000 after buying an additional 143 shares during the last quarter. 8.97% of the stock is currently owned by institutional investors and hedge funds.

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.