Diageo (NYSE:DEO) Stock Rating Lowered by Zacks Research

Diageo (NYSE:DEO) was downgraded by investment analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research note issued on Tuesday, Zacks reports.

A number of other equities research analysts have also issued reports on DEO. UBS Group reaffirmed a “neutral” rating on shares of Diageo in a research report on Thursday, October 8th. Morningstar downgraded Diageo to a “hold” rating in a report on Friday, August 7th. Jefferies Financial Group reiterated a “buy” rating on shares of Diageo in a research report on Tuesday, October 13th. Deutsche Bank reissued a “neutral” rating on shares of Diageo in a research note on Wednesday, October 14th. Finally, Weiss Ratings raised Diageo from a “sell (d)” rating to a “sell (d+)” rating in a research note on Monday. Seven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $99.75.

Diageo Stock Performance

Shares of NYSE:DEO opened at $100.31 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. The stock has a fifty day moving average of $90.57 and a 200-day moving average of $86.24. Diageo has a one year low of $72.45 and a one year high of $102.74.

Hedge Funds Weigh In On Diageo

Several institutional investors and hedge funds have recently added to or reduced their stakes in DEO. Advisors Asset Management Inc. acquired a new position in shares of Diageo in the 3rd quarter valued at about $5,933,000. Private Wealth Asset Management LLC increased its stake in shares of Diageo by 17.4% during the 3rd quarter. Private Wealth Asset Management LLC now owns 2,745 shares of the company’s stock worth $235,000 after purchasing an additional 406 shares during the last quarter. Private Advisor Group LLC increased its stake in shares of Diageo by 144.2% during the 3rd quarter. Private Advisor Group LLC now owns 9,754 shares of the company’s stock worth $835,000 after purchasing an additional 5,759 shares during the last quarter. Ieq Capital LLC raised its holdings in shares of Diageo by 17.1% during the 3rd quarter. Ieq Capital LLC now owns 13,709 shares of the company’s stock valued at $1,174,000 after purchasing an additional 1,999 shares in the last quarter. Finally, Independent Advisor Alliance bought a new position in shares of Diageo during the 3rd quarter valued at $243,000. 8.97% of the stock is currently owned by hedge funds and other institutional investors.

Diageo Company Profile

Diageo plc is a global beverage company that produces and markets alcoholic drinks, including spirits, beer and ready-to-drink products. Its portfolio includes brands such as Johnnie Walker, Guinness, Smirnoff, Baileys, Tanqueray and Captain Morgan. The company sells its products in markets around the world through a combination of owned operations, distributors and other commercial partners. Its offerings span categories including Scotch whisky, vodka, gin, rum, tequila, liqueurs and stout. Diageo was formed in 1997 through the merger of Guinness and Grand Metropolitan.