Diageo plc (NYSE:DEO) Given Consensus Recommendation of “Reduce” by Brokerages

Diageo plc (NYSE:DEO) has been assigned an average rating of “Reduce” from the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. Three investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $166.37.

Separately, Citigroup upgraded Diageo from a “neutral” rating to a “buy” rating in a research note on Wednesday.

Diageo Stock Performance

Shares of NYSE DEO opened at $126.26 on Wednesday. Diageo has a twelve month low of $124.80 and a twelve month high of $179.78. The business’s 50 day moving average price is $135.85 and its two-hundred day moving average price is $142.11. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.58 and a quick ratio of 0.65.

Institutional Trading of Diageo

Several large investors have recently modified their holdings of the stock. Confluence Investment Management LLC bought a new position in Diageo in the first quarter worth approximately $125,474,000. Public Employees Retirement Association of Colorado grew its position in Diageo by 4,665.2% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 482,713 shares of the company’s stock valued at $70,312,000 after purchasing an additional 472,583 shares during the period. Saratoga Research & Investment Management bought a new stake in Diageo during the 4th quarter valued at $42,225,000. Wellington Management Group LLP raised its holdings in Diageo by 56.7% during the fourth quarter. Wellington Management Group LLP now owns 677,478 shares of the company’s stock worth $98,681,000 after buying an additional 245,255 shares during the last quarter. Finally, Natixis Advisors L.P. lifted its stake in shares of Diageo by 55.9% in the fourth quarter. Natixis Advisors L.P. now owns 645,642 shares of the company’s stock valued at $94,044,000 after buying an additional 231,396 shares in the last quarter. Institutional investors and hedge funds own 8.97% of the company’s stock.

About Diageo

Diageo plc, together with its subsidiaries, engages in the production, marketing, and sale of alcoholic beverages. It offers scotch, gin, vodka, rum, raki, liqueur, wine, tequila, Chinese white spirits, cachaça, and brandy, as well as beer, including cider and flavoured malt beverages. The company also provides Canadian, Irish, American, and Indian-Made Foreign Liquor whiskies, as well as ready to drink and non-alcoholic products.