Diageo plc (NYSE:DEO) Short Interest Update

Diageo plc (NYSE:DEO) was the target of a large drop in short interest in December. As of December 15th, there was short interest totaling 2,012,433 shares, a drop of 24.7% from the November 30th total of 2,672,976 shares. Approximately 0.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 1,819,937 shares, the days-to-cover ratio is presently 1.1 days. Based on an average daily trading volume, of 1,819,937 shares, the days-to-cover ratio is presently 1.1 days. Approximately 0.4% of the shares of the stock are sold short.

Diageo Trading Up 0.5%

Shares of NYSE:DEO traded up $0.44 during trading hours on Tuesday, hitting $86.70. 1,364,914 shares of the company’s stock traded hands, compared to its average volume of 1,622,211. The business has a fifty day moving average price of $90.82 and a 200-day moving average price of $98.80. Diageo has a 1 year low of $85.11 and a 1 year high of $127.33. The company has a quick ratio of 0.64, a current ratio of 1.63 and a debt-to-equity ratio of 1.64.

Hedge Funds Weigh In On Diageo

Several hedge funds have recently bought and sold shares of the business. Osaic Holdings Inc. increased its position in shares of Diageo by 42.2% during the second quarter. Osaic Holdings Inc. now owns 99,998 shares of the company’s stock worth $10,099,000 after acquiring an additional 29,674 shares during the period. Savant Capital LLC purchased a new stake in shares of Diageo in the second quarter valued at approximately $310,000. Philip James Wealth Mangement LLC grew its stake in Diageo by 81.8% in the second quarter. Philip James Wealth Mangement LLC now owns 33,107 shares of the company’s stock worth $3,338,000 after purchasing an additional 14,895 shares in the last quarter. Martin Capital Partners LLC increased its holdings in Diageo by 225.8% during the 2nd quarter. Martin Capital Partners LLC now owns 32,525 shares of the company’s stock worth $3,280,000 after purchasing an additional 22,542 shares during the period. Finally, Confluence Investment Management LLC increased its holdings in Diageo by 0.9% during the 3rd quarter. Confluence Investment Management LLC now owns 1,363,504 shares of the company’s stock worth $130,119,000 after purchasing an additional 12,678 shares during the period. Institutional investors own 8.97% of the company’s stock.

Analyst Upgrades and Downgrades

DEO has been the subject of a number of research reports. Zacks Research downgraded Diageo from a “hold” rating to a “strong sell” rating in a research report on Tuesday, November 11th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Diageo in a research note on Wednesday, October 8th. Bank of America lowered their price objective on shares of Diageo from $117.00 to $109.00 and set a “buy” rating for the company in a research report on Friday, September 26th. UBS Group reissued a “neutral” rating on shares of Diageo in a research note on Wednesday, December 3rd. Finally, Sanford C. Bernstein set a $124.00 target price on shares of Diageo and gave the stock an “outperform” rating in a report on Monday. Four analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Diageo has a consensus rating of “Hold” and an average target price of $120.67.

About Diageo

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.