Zacks Research Upgrades Diageo (NYSE:DEO) to “Hold”

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

A number of other analysts also recently issued reports on DEO. TD Cowen reaffirmed a “buy” rating on shares of Diageo in a report on Monday, August 10th. Loop Capital set a $99.00 target price on Diageo in a research note on Thursday, June 18th. Finally, Weiss Ratings restated a “sell (d)” rating on shares of Diageo in a research report on Friday, July 17th. Six analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $106.25.

Diageo Price Performance

Shares of Diageo stock opened at $93.69 on Tuesday. The company has a current ratio of 1.60, a quick ratio of 0.62 and a debt-to-equity ratio of 1.53. Diageo has a 1 year low of $72.45 and a 1 year high of $113.28. The company has a 50 day simple moving average of $86.78 and a two-hundred day simple moving average of $84.11.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. OceanIQ Capital LLC bought a new stake in shares of Diageo in the 2nd quarter valued at about $567,000. Sapient Capital LLC bought a new position in Diageo during the 2nd quarter worth approximately $212,000. Syon Capital LLC purchased a new position in Diageo in the 2nd quarter worth approximately $289,000. Concurrent Investment Advisors LLC lifted its position in Diageo by 19.4% in the second quarter. Concurrent Investment Advisors LLC now owns 20,635 shares of the company’s stock valued at $1,659,000 after purchasing an additional 3,348 shares during the last quarter. Finally, Continuum Advisory LLC bought a new stake in Diageo in the second quarter valued at approximately $29,000. 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.