Diageo plc (NYSE:DEO) Sees Significant Growth in Short Interest

Diageo plc (NYSE:DEO) saw a large growth in short interest in the month of December. As of December 31st, there was short interest totaling 2,880,062 shares, a growth of 43.1% from the December 15th total of 2,012,433 shares. Based on an average daily volume of 1,462,814 shares, the days-to-cover ratio is currently 2.0 days. Approximately 0.5% of the company’s shares are sold short. Approximately 0.5% of the company’s shares are sold short. Based on an average daily volume of 1,462,814 shares, the days-to-cover ratio is currently 2.0 days.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on DEO. Weiss Ratings restated a “sell (d)” rating on shares of Diageo in a research report on Wednesday, October 8th. Zacks Research cut Diageo from a “hold” rating to a “strong sell” rating in a report on Tuesday, November 11th. Sanford C. Bernstein set a $124.00 target price on Diageo and gave the stock an “outperform” rating in a research note on Monday, December 29th. Bank of America cut their price target on shares of Diageo from $117.00 to $109.00 and set a “buy” rating on the stock in a report on Friday, September 26th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating on shares of Diageo in a research note on Friday, November 28th. Five equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Diageo has a consensus rating of “Hold” and an average price target of $116.50.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of DEO. Perigon Wealth Management LLC boosted its stake in Diageo by 8.3% in the fourth quarter. Perigon Wealth Management LLC now owns 2,869 shares of the company’s stock valued at $248,000 after acquiring an additional 219 shares in the last quarter. HF Advisory Group LLC lifted its holdings in shares of Diageo by 896.1% during the 4th quarter. HF Advisory Group LLC now owns 97,760 shares of the company’s stock valued at $8,434,000 after purchasing an additional 87,946 shares during the last quarter. Legacy Capital Wealth Partners LLC boosted its position in shares of Diageo by 21.9% in the 4th quarter. Legacy Capital Wealth Partners LLC now owns 5,399 shares of the company’s stock worth $466,000 after purchasing an additional 969 shares in the last quarter. Shrier Wealth Management LLC purchased a new position in Diageo during the 4th quarter worth $821,000. Finally, Allspring Global Investments Holdings LLC grew its stake in Diageo by 31.4% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 6,310 shares of the company’s stock worth $550,000 after buying an additional 1,507 shares during the last quarter. Institutional investors own 8.97% of the company’s stock.

Diageo Stock Down 0.9%

DEO traded down $0.81 on Friday, hitting $88.54. The company had a trading volume of 1,464,715 shares, compared to its average volume of 1,614,818. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.63 and a quick ratio of 0.64. The stock has a fifty day moving average price of $89.51 and a 200-day moving average price of $97.68. Diageo has a 12-month low of $84.52 and a 12-month high of $125.94.

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.