Brokerages Set Diageo plc (NYSE:DEO) Target Price at $120.67

Shares of Diageo plc (NYSE:DEO) have been given a consensus rating of “Hold” by the twelve analysts that are presently covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell rating, four have given a hold rating and five have assigned a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $120.6667.

DEO has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d)” rating on shares of Diageo in a research note on Wednesday, October 8th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating on shares of Diageo in a report on Friday, November 28th. Barclays reaffirmed an “overweight” rating on shares of Diageo in a research note on Thursday, December 11th. Royal Bank Of Canada raised Diageo from a “sector perform” rating to an “outperform” rating in a research note on Tuesday. Finally, Bank of America dropped their target price on shares of Diageo from $117.00 to $109.00 and set a “buy” rating for the company in a report on Friday, September 26th.

Diageo Stock Performance

Shares of Diageo stock opened at $88.48 on Friday. The company has a quick ratio of 0.64, a current ratio of 1.63 and a debt-to-equity ratio of 1.64. The company has a 50 day moving average of $89.97 and a 200-day moving average of $98.30. Diageo has a 1-year low of $85.11 and a 1-year high of $126.73.

Institutional Trading of Diageo

A number of hedge funds have recently added to or reduced their stakes in the stock. The Manufacturers Life Insurance Company lifted its position in shares of Diageo by 72,871.7% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,568,162 shares of the company’s stock valued at $158,133,000 after acquiring an additional 1,566,013 shares during the period. Equity Investment Corp bought a new position in shares of Diageo during the 3rd quarter worth about $92,970,000. Orbis Allan Gray Ltd grew its stake in shares of Diageo by 236.6% in the 2nd quarter. Orbis Allan Gray Ltd now owns 1,157,991 shares of the company’s stock valued at $116,772,000 after buying an additional 813,973 shares during the period. Arrowstreet Capital Limited Partnership increased its position in Diageo by 353.7% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 717,740 shares of the company’s stock valued at $72,377,000 after buying an additional 559,547 shares in the last quarter. Finally, Raymond James Financial Inc. raised its stake in Diageo by 48.5% during the 3rd quarter. Raymond James Financial Inc. now owns 1,701,878 shares of the company’s stock worth $162,410,000 after buying an additional 555,509 shares during the period. Institutional investors and hedge funds own 8.97% of the company’s stock.

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.